There are a large number of legal services, the payment of which often requires huge resources. Legal services include payment of court costs, fees for legal defense in cases of drunk driving and other violations of the law, representation in court in case of divorce proceedings, and others. Often, legal fees are as high as $50,000, excluding attorney fees if they win the case. Often, when applying for legal assistance, there is also a need to pay an advance payment, the amount of which often reaches several thousand dollars. Consequently, payment for legal services often requires expensive investments, which are not possible to carry out independently. In this case, to cover these costs, you can use a consumer loan to pay for legal services, comparing some of them from different companies.

Compare the Best Loans for Legal Fees

Loans for Lawyers – how to qualify?

There are many online lenders on the loan market that carry out lending operations to pay for lawyer services. Many lenders provide potential borrowers with all the necessary information about rates, conditions, lending limits, and other conditions. At the same time, a number of creditors do not carry out a rigorous credit checks. This means that it will be possible to pay for legal services without compromising your credit history.

Many lenders do not define this type of loan as a “consumer loan for legal services”, but do not restrict borrowers in their ability to finance such services.

Credit Score

When issuing consumer loans, most lenders require that potential borrowers have a high credit rating (670 points or more), a stable source of income, and an up-to-date bank account. However, many lenders consider lending even with a lower credit rating and with a bad credit history. It should only be remembered that a potential borrower with a bad credit history will have to pay a higher interest rate when attracting such loans than a potential borrower with a good credit rating.

Citizenship Status

In the US, potential borrowers may be predominantly citizens or permanent residents aged 18 or over. However, a number of credit companies provide this kind of loan to non-US citizens.

Loan Amounts

An important factor to pay attention to when applying for a loan is the credit limit. Depending on the level of the potential borrower's credit rating and the amount of his income, lenders approve loans from $2,500 to $10,000. Sometimes their amount can reach 100,000 dollars.

How Loans for Legal Fees Typically Work

If you plan to apply for a consumer loan for legal services, you should study the composition of these costs to determine the amount of loan you need. While attorney fees may vary, a number of fees will be roughly the same and include:

  • advance payment is an initial payment that is used to cover a portion of the fees incurred during the entire litigation and is generally non-refundable;
  • lawyer's hourly rate, which depends on the hourly rate and the number of hours the lawyer spends working on your case. So, with a lawyer's rate of $100 an hour and working on your case for 7 hours, his fee will be $700;
  • court costs - a collective concept, including fees for the involvement of witnesses, access to records, work at the scene, etc.
  • contingency fee - a percentage of the amount set in case of winning the case. For example, if a case awards $60,000 and the attorney's fee is 30 percent (which is common practice), the fee would be $18,000.

Lawsuit Loans

Lawsuit loans are loans on a lawsuit settlement.

You can apply for this kind of loan to finance any type of legal costs. If you are pending litigation and need an urgent cash advance to fund your legal costs, you can apply now for online personal loans and receive cash within 24 hours.

These types of loans to maturity are somewhat different from traditional loans. The need to pay this kind of loan arises only when the borrower receives a cash reward or your case is settled.

What if I can’t afford attorney legal fees?

If you need to use an attorney and are unable to pay your attorney's fees, you can apply for funding for the cost of professional representation. Such financing is available not only to borrowers with a good credit rating. Some lawyers accept both credit cards and payments from third parties. Finally, there are lenders who will finance the potential borrower's legal costs. It should be remembered that with this type of loan, as with all types of loans, interest payments and additional fees will be charged, the amount of which depends on the credit rating of the borrower. A person in need of financing legal costs must weigh the importance of his case and the amount that the creditor will have to pay in financing this amount.

Depending on the borrower's credit rating, you can get financing ranging from $2,000 to $20,000 or more. Some lenders offer long-term loans (up to a year or more) with 0% interest if the borrower has a high credit rating.

Of course, sometimes, in order to minimize costs, you can represent yourself in a lawsuit yourself. But if you are not a professional in this field, then you may lose a case that a lawyer could handle more effectively. Therefore, hiring a professional lawyer will save you time and money in the long run, although it may cause some financial difficulties to pay for a lawyer.

It should be remembered that you have the opportunity to finance such expenses by attracting credit resources, but care should be taken if you decide to participate in any loan extension program.