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There are a few different ways lawyers structure fees:
- Hourly – You will be charged a flat rate for each hour, or part of an hour, the lawyer works
- A flat fee – You pay a fixed amount, no matter how long it takes to complete the job
- A contingency fee – The lawyer will take a certain percentage of the amount of money you win
You will probably also be responsible for certain other fees accrued during the lawyer’s work, if they have a paralegal assisting them for part of the process for example. But using money from title loans may help with costs. What are title loans? Title loans are one of the best kinds of emergency cash that can help pay the initial costs for a lawyer. But before we can talk title loans, here are some factors that determine how much a lawyer can charge you.
How much will my lawyer charge me?
Just like the cost of gas, the cost to hire a lawyer varies based on location and quality. The cost will also depend on what you want the lawyer to do. For example, having a simple will written up should be relatively inexpensive, while a complicated corporate law case may require a lawyer charging $1,000 an hour.
When choosing a lawyer, it’s best to look for one that specializes in whatever you need; it doesn’t make sense to hire a divorce attorney to represent you in a criminal trial. Once you’ve determined the type of lawyer you need, you can shop around to find one with that you are both comfortable with and can afford.
How do I know how much my lawyer will charge me?
The only way to know how much a lawyer will charge you is to ask. Generally, if the amount of time it takes to perform a specific task is pretty well-known, write a will for example, your lawyer will probably charge a fixed fee. They may even charge a fixed fee for types of cases they encounter frequently, drunk driving cases with no injuries or property damage. If you have a complicated court case and it is difficult to predict the exact amount of time it will require, your lawyer will probably charge you by the hour.
That said, you will also likely be responsible for any incidental costs that occur or any fixed fees that come up during the course of the lawyer’s activities, a copying fee for copying a large number of documents or a subpoena fee for serving a subpoena for example. Because of this, it’s critical to have a strong understanding of not only the cost to have the lawyer work, but also any other charges you may be responsible for. The best way to do this is to ask your lawyer a lot of questions.
Note, that even though lawyers may charge you hourly or a flat fee, the due dates for payments may vary from lawyer to lawyer.
What are the different fee structures lawyers’ use?
A common way to structure fees is to first ask for a retainer. This is an upfront payment for the lawyer to begin working. For example, if a lawyer is charging you $100 an hour and you pay them a retainer of $1,000, it will cover their first ten hours of work. Some lawyers stipulate that they keep the whole amount even if they finish before the whole retainer is used. Once the retainer is spent, the lawyer will bill you as hours accrue.
If your lawyer is charging a flat fee, they may set up a payment plan with you.
You can also participate in a prepaid-legal plan. This works like insurance. You pay a fixed monthly fee, and in exchange you receive certain legal services as you need them. Make sure you check what is covered by each plan before agreeing to one.
How do I pick a lawyer?
Many people learn about lawyers through word of mouth. With the advent of the internet however, you no longer need to rely on your friends and family for recommendations. You can find recommendations online, from your local bar association or a website like LegalZoom. Once you have a few lawyers that you like, check out their websites. Try to pick three or four that you’ll try to speak to over the phone or in person. It’s important to note, some lawyers may charge you for this initial meeting.
When you speak to the lawyers you are considering, you’ll want to ask them a number of different questions:
- What do they charge for the type of service you want?
- Are there other charges you might be responsible for?
- How long will it take?
- When can they start?
- Who do you contact for details about your case?
- What is the attorney’s success rate with this type of work?
- Does the attorney have any misconduct or reprimands on their record? (Note, it should say this on your state bar’s association website, and it may be for something as minor as paying a membership fees on time).
Court cases and legal documents can be confusing. What doesn’t have to be confusing is how you pay for your lawyer. If you have any questions, it’s important to ask them so you can get a proper understanding of what you will be paying.
When in need of additional funding to pay for a lawyer, title loans may be a favorable option. Car title loans from LoanMart can be a great way to get essential funding without all the hassles that can come with traditional lenders.
One of the best things about car title loans in Orlando and other cities is that they are fast and efficient1. You could even receive your car title loan funding as soon as the next business day3!
Check out our application and see how you can use emergency money from title loans to pay for a lawyer!
What is a Retainer Fee?
A retainer is an amount of money that a lawyer requests as an upfront payment for their services. Retainers can range from as little as $500 dollars to as high as $5,000— possibly more.
Lawyers use a retainer as a way to cover some of their costs. To determine what the retainer fee will be, lawyers typically take their hourly rate and multiply it by the number of hours they expect to work on your case. If your case does not require the full amount of your retainer, then whatever money remains may be returned to you.
A Title Loan Can Help Pay for a Retainer
If you need the services of an attorney fast but don’t have the means to cover their retainer then a title loan may be your best option. By posting your vehicle’s title as collateral, you don’t have to worry to much about your credit score because the main qualifying factors are your vehicle’s value and the ability to repay the loan.
To determine how much money you could get, your lender must first evaluate your car to properly determine its value. The evaluation process will take several factors into account, such as:
- The damage on your car
- The miles on your car
- The age of your car
- The make and model of your car
Once your lender values your car, they may be able to offer you a loan that is a percentage of your car’s value. While the amount of money you could receive is based on your cars value, you could possibly receive up to $50,000 with LoanMart1.
One of the upsides to getting title loans in Lexington, or whatever city you are in, is how fast the process can be. Usually, it takes about 24 hours to get a title loan from LoanMart, but it may be possible to get your funds the same day you apply3.
If you decide to become a LoanMart customer, just know that you will be subject to a credit check. If you are approved for a loan, we encourage you to make your monthly payments on time to avoid any possible late charges5.
Emergency Cash to Pay for a Bail Bond
Bail amounts can be set quite high. It can be a challenge to scrape the money together to pay for one. If you or someone you know needs to post bail, one option is to get a bail bond. Are there other options for emergency cash when you need to release someone in jail? Let’s review your options.
A bail bond is a type of bond provided by a surety bond company, a type of insurance company, through a bail agent or a bail bondsman that secures the release of someone from jail.
- Surety Bond: A bond that guarantees you will fulfill a task or obligation.
- For example, when you take out a bail bond, you are promising (guaranteeing) that you, or the person you are taking the bail bond out for, will show up to trial.
Title loans can help alleviate the costs of a bail bond. But what are title loans? With LoanMart, title loans are the fastest and easiest ways to get money. Before we talk title loans as emergency cash, here’s how bail bonds work.
How do Bail Bonds work?
When someone needs a bail bond, they go to a bail agent or bondsman. The Principal, that’s the person asking for the bail bond, must pay the bail agent 10% of the total amount of the bail.
- The cost of the bail will either be set by the judge or comes from a list of set bail prices based on the crime
In addition to paying the bail agent 10%, the principal must pledge collateral of equal or greater value to the remaining 90% of the loan.
- For example, if bond is set at $3,000, the principal must pay the bail agent $300, leaving $2,700 that must be secured with collateral. The principal can use something like a car as collateral to cover the remaining $2,700.
Once the 10% is paid and the remaining 90% is secured through collateral, the bond agent will provide the court with the full value of the bail.
Once the bail is posted, the accused is released under the assumption that they will appear for their court date.