Even if you know nothing else about the justice system, you are aware of this: lawyers and legal processes are expensive. However, if you are suing someone, then there is always a chance of a payout. Under these circumstances, how can you wrangle the best possible legal assistance and afford it at the same time? Well, here are the top options available to you:
Use Your Settlement as a Payment
There are some attorneys who offer this method as an option. Here, the lawyer will negotiate a percentage of your settlement for themselves. Thus, if you win, this portion of the money goes over to them. If you lose, some lawyers may not charge you any fees at all while others may bill you for some or all of their time.
Before you go down this route, it is important to get all the facts. For instance, will you have to pay any money if you don’t receive any money? Is the percentage that the attorney asking for fair? Also, make sure to get any agreements in writing. Read the fine print before signing anything.
Get a Lawsuit Loan
Have you heard of lawsuit settlement loans – if not, it is time to familiarize yourself with them! This is where a lender gives you the money to pay off your legal fees and any additional expenses. You are required to pay back the amount at a predetermined rate, along with an interest rate tacked on. In short, it functions like any other loan.
One of the main benefits of settlement loans in Ontario is that it gives you some much-needed breathing room and time. For one thing, you are given the opportunity to push for a higher settlement, netting you more money. For another, you often have a lot of time to pay back the loan, making it less of a burden for you.
Consider a Payment Plan
There are some attorneys that may offer you a payment plan. This way, your large bill gets broken down into smaller, more affordable installments. You should be aware that not every law firm will accept this form of payment. Furthermore, some may require to pay interest or offer some other assurance.
Make sure to talk about the possibility of a payment plan before you sign on with a lawyer. Take a look at the agreement, including all the terms and conditions. This will let you know what you are getting into.
Use a Credit Card
In the event that your attorney isn’t willing to work out any kind of payment options for you, then you will need to pay via a credit card. When doing so, though, you should be careful. The last thing that you need is to get into credit card debt.
Make sure that whatever you charge to your card that you are capable of paying it off every month. You should also check that the interest rate is fair and that you aren’t paying too much for it.
These are your top guidelines for paying your legal expenses. Now that you know what options are available to you, you can select the best route for you.
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