Lawyers are not cheap, but they are often a necessity if you need legal representation. If you are looking into getting a loan, lawyer costs and legal fees could be a worry in the past! Many financing options are available to you and worth exploring. A loan can cover the services of a lawyer and other legal fees, but how can you know which loan is the right fit for your situation?
Some of the most common ways to pay for attorney fees are:
- Title Loans
- Personal Loans
- Or Credit Card Advances
If you have trouble affording a lawyer, consider all of your financial options available before making a decision.
How Do Lawyer Cost Structures Work?
Each of these finance options have individual benefits, so it’s important to know the differences before applying for a specific loan to cover lawyer costs.
When you are looking into applying for a loan, lawyer cost structures can be confusing. Without the right knowledge of how your cost will be structured, it can be difficult to find the right loan to apply for.
There are three main types of cost structures with lawyers:
- Hourly Fee: This is one of the most common structures. You will be charged only a flat rate per hour or half hour when you work sessions with a lawyer, or they are working on the case for you. Typically, a lawyer can let you know an estimation of hours per case to give you an idea of what to expect.
- Contingency Fee: With this structure, a lawyer will take a certain percentage of the amount of money you win for the case. This is typically a structure used in settlement cases.
- Retainer Fee: This is the amount of money a lawyer requests upfront to have them on retainer. A lawyer will often charge anywhere between $500-$5,000 depending on the area they work in and the type of case. This retainer fee covers many additional costs, including subpoena fees or other charges. If the number of work hours is less than estimated, you may receive a portion of the retainer back.
- Flat Fee: With this cost structure, you will pay one fixed amount to the lawyer.
Other fees may be required during the legal process, but these you can expect if you are hiring legal representation. When choosing representation, ask the lawyer up front what the estimated cost will be and what structure they are using so you can plan your loan accordingly.
A Personal Loan, Lawyer Costs, and Other Financial Options Available
Personal loans can be a helpful financial tool to cover legal expenses. The typical hourly fee of an attorney is anywhere between $150 an hour to $500 an hour, so the costs can add up quickly. If you have a decent credit score, you may be able to take out enough money to cover your legal fees and any additional fees for the case through a personal loan.
With a personal loan, your credit history and income will be used to determine your eligibility for the loan and your loan amount. If you do not have a decent credit score of at least 670 or above, it may be difficult to obtain all the funding you need, or eligibility.
If your credit is in good shape, you can apply for a personal loan in these main places:
- Online Through a Lender
- At a Bank
- Through a Credit Union
If you do choose a bank that you are already a customer at, you could receive a larger loan amount! The less debt you have, the higher your credit score and the greater your income, the larger your personal loan amount could be. If your credit is not in the best shape due to any change in your financial situation, there are other options to consider.
What are Credit Card Advances?
If you already have access to a credit card, you may use it to apply for the funding you need! With a credit card cash advance, you are turning your available credit into cash you can access as a short-term loan.
You can access as much as your available credit will allow for. To apply for a credit card cash advance, simply find the closest ATM that your credit card company partners with if your card has a PIN.
Or, apply for this advance online through your account portal with that company. You can also apply at a bank that offers advances through your card’s payment network. It is important to remember that this advance is very expensive to repay, as your cash will be subjected to the same interest rate that a regular purchase with your card would have.
Are Title Loans a Better Alternative to Personal Loans and Credit Card Advances?
Title loans can be another financial loan to consider when looking to apply for funding! If you need to apply for a loan, lawyer costs and legal fees can be intimidating.
Luckily, you can access anywhere between 25%-75% of your vehicle through a title loan- even if you have an imperfect credit history. Title loans are secured through collateral, unlike personal loans and credit card advances. Secured loans can offer an approval process with more flexibility to borrowers with bad credit. Title loans can even offer more competitive interest rates, which helps make the repayment process easier!
If you do need to apply for a loan to cover legal fees, consider using your paid-off or close-to-paid-off vehicle to apply for a car title loan. With just your vehicle’s title, you could qualify for the cash you need.1 Another benefit of choosing a loan option like ChoiceCash Title Loans is the speed of the loan. Qualified borrowers can get their funds in as little as one business day after approval!1
How Much Cash is Available Through a Title Loan?
The amount you can receive through a car title loan and your eligibility for the loan depend on two facts:
- Your Income and Ability to Repay the Loan
- Your Vehicle’s Equity
Equity is simply the difference between the market value of the vehicle and what you owe on it. The less of a difference this is, the more equity you may have to access through a title loan! A loan agent with ChoiceCash Title Loans will take a look at your monthly income to determine what you can afford and what your loan payment should be. This, along with your vehicle’s available equity, will determine your loan amount.
You’ll be able to access anywhere between 25%-75% of your car’s value!1
Apply for a Loan Online to Pay for a Lawyer
If you’re thinking of applying for a loan, lawyer costs and other legal fees can be daunting. Luckily, you can find out if you qualify for a ChoiceCash Title Loan in no time at all! Get started on your loan inquiry today by heading over to the website and filling out a few questions about your vehicle and income. You can also give a loan agent a personal call at 855-422-7402 to be walked through the process and have any questions about your loan answered. If you can get your cash in as little as one business day, why wait to see if you qualify?1