When you’re looking for a good lawyer to help your legal situation, the added stress of money can be overwhelming. However, you can consider several potential options to help you get the cash you need. It doesn’t have to be a burden. What you’ll need to do is figure out the most suitable loan for your personal situation and finances. If you need a loan to pay for hourly attorney fees, you potentially have choices.
Three options stand out – a title loan, a personal loan, or simply a credit card. There are upsides to each option, so it’s best to understand how each works before using them to pay your attorney fees.
Understanding Lawyer Costs
Lawyers can bill for their services in several different ways. A lawyer can take a flat fee upfront that covers the entirety of their services. Or, they can have a contingency fee that promises a percentage of monetary gains awarded in a case, a retainer, or an hourly fee. We’re discussing how to get a loan to pay for hourly fees, so we’ll look at what a retainer fee is, the hourly pay set up, and why each would benefit you.
Hourly Fee
An hourly fee for an attorney is exactly what it sounds like. Your lawyer charges a certain amount for every hour they work on your case and the time they’re in court. It is typical for lawyers to track their time by the tenth of an hour in six-minute increments. This may seem confusing, but your lawyer will keep up with it. All you need to know is that you will be charged by the hour, and those hours can get expensive.
There’s a very wide range on how much a lawyer charges hourly, the low end starts at around $150, while the high end is $500 and above. Hourly fees are helpful because you don’t have to pay upfront; you’ll only have to pay for the hours your lawyer works for you. Be upfront about what you can pay, even capping the number of hours they work on your case, and make sure the loan you get can cover that amount of time. If you need a loan to pay for an hourly attorney, this is what you’re paying for.
Retainer Fee
A retainer fee works similarly to an hourly fee in that you’re still charged per hour, however, with a retainer fee, you pay upfront. You’ll deposit a lump sum with the lawyer that they will deduct from according to the hours they work. Once your balance declines to a certain amount, you’ll be asked to make another deposit to continue paying the lawyer’s hourly fee.
This can be helpful when planning for your loan because you’ll know exactly how much you’ll need upfront. It can be tricky if you have to make additional deposits after, but you can plan ahead. Talk to your lawyer about your case and ask for an estimate on the total number of hours it may take. All the information you can get will help you prepare to decide on your loan amount.
Type of Work
The amount your lawyer costs also depends on what type of case you have, which will affect how much work the lawyer will have to do preparing, as well as the time spent in court. More difficult cases will also require more seasoned lawyers, so you’re also paying for their expertise and experience. Speak with your lawyer about all of these factors and ensure it’s a good fit for you and that you’ll be able to pay for their services with your loan amount.
Personal Loans to Pay for Hourly Attorney Fees
Personal loans are a great option to help you pay your attorney fees. With attorney fees having a large cost range, depending on how your lawyer charges, expenses can add up fast. With a personal loan, you’ll be able to ask to borrow pretty much any amount you need to cover your expenses while getting a decent interest rate. However, this all depends on your credit score. If your score is in the “Excellent” or “Good” range, you should have no issues procuring a loan with great terms. If your score is “Average” or “Bad”, it may be harder to be approved for a large loan, and your terms may be higher. See the table below for a better understanding of the credit score brackets.
Credit Score Ratings
| Excellent | 740-850 |
| Good | 670-739 |
| Average | 580-669 |
| Bad | 300-579 |
If your credit score is close to being in the next bracket, there are some ways you can try to raise your score quickly to be approved for different types of loans quickly. If you inquire about your credit report, you can see if any errors need to be removed. Around 25% of Americans have a mistake on their credit report due to fraudulent activity or misreported payments, so this is worth checking on. You can also see if any negative entries on your report can be removed if you’ve already paid them off. If you have a little more time before you need to make payments to a lawyer, you can also work on paying off older loans or credit cards to improve your credit score.
There are several options on where you can go to get a personal loan, including a bank, a credit union, or an online lender. Just like the type of loan you get is important, where you get the loan is also important. Each of these three options has different benefits, so it’s important to make the right choice.
Personal Loan From a Bank
If you already have an account with a bank, you could be well on your way to securing your loan. Since you’re established at the bank, you may receive incentives for your loan, such as getting a larger loan amount and waiving certain fees. It’s important to remember that bank loans are often unsecured, meaning your credit score will play a bigger role in your loan approval. It’s good to have your credit in the “Excellent” or “Good” range when applying for a personal loan from the bank. If you do not have a good credit score, you may not receive approval for this type of loan. If you do receive approval, it may come with expensive interest rates.
Personal Loan From an Online Lender
Using an online lender will be very similar to the process of applying for a loan from a bank, you’ll just get to do the application process online. However, it can be difficult to find a lender on your own. You may have to do a bit of digging.
Credit Cards to Pay for an Hourly Attorney
If you aren’t able to secure a personal loan, a credit card is another option to pay for a lawyer. Using a credit card isn’t an ideal solution for a few reasons. Since lawyer fees are typically very high, one credit card might not be able to cover all the expenses. This means you have charges split up between different cards that have varying interest rates. That can be hard to keep track of, and missing payments can hurt your credit. If the interest rates on the card are high, this can be a big negative. However, some credit cards have lower interest rates than other types of loans do. If you have to open new credit cards to pay for your lawyer, this might not be your best option.
Title Loans to Pay for an Hourly Attorney
If your credit isn’t where it needs to be for an unsecured loan, a title loan is a great option. A title loan uses your vehicle’s title as collateral. This secures the loan and helps to minimize the lending risk if you do not have a strong credit history. It is quick and simple to apply for an online loan. You just have to input some information about yourself and your vehicle.
The amount you’ll get for the loan depends on how much your vehicle is worth and your ability to pay back the loan. To establish how much your vehicle is currently worth, you’ll need to know this about your car:
- Make and model
- Year
- Style
- Current Mileage on the Odometer
- Current Condition
With this information, a lender will determine the amount of your loan based on a percentage of what your vehicle is worth. Title loans are a great option when your credit isn’t great, and when you need your cash in a hurry. With a title loan, your funds can be allocated as quickly as the day you apply, typically within 24 hours.2 5
If you need a loan to pay for an hourly attorney, consider a title loan! It could be the most suitable and convenient option for your current situation.
Why Choose Max Cash® Title Loans If you Need a Loan for an Hourly Attorney?
Finding a title loan online yourself can be quite difficult. With Max Cash Title Loans, you do not need to do the hard work yourself! Max Cash Title Loans is the #1 Nationwide Title Loan Marketplace. With our network of online lenders, you can potentially get connected to the most suitable match for your situation.
Just fill out the online preapproval form and see if your vehicle/income can qualify!5 Or, call a title loan agent at 855-561-5626 to learn more about online title loans to pay for an hourly attorney.