Legal fees across a wide spectrum of situations can stretch into the tens of thousands of dollars. Higher, even, if any judgments are assessed. Not even celebrities and public figures famed for living lifestyles of the rich and famous are spared. News stories about household names selling a house to cover legal expenses appear time and again. If selling property to finance legal protection is right for them, could it be right for you too?
Did you know? Lawyer services are far from cheap. The average hourly rate for a lawyer is between $250 and $520, says UpCounsel. On top of a lawyer’s hourly fees, the client typically has to pay for a number of other fees as well. These can include expert witness fees, investigator hourly fees, paralegal hourly fees, travel expenses, and more. The price of legal protection can add up fast!
In criminal proceedings, the U.S. legal system is required to provide legal representation at no cost to you. It’s a different matter with civil cases. That’s when two private parties enter into legal proceedings as part of a dispute. If you receive a court summons in either scenario, you must respond to it. Depending on the particulars, you’ll almost certainly want an attorney representing you.
Since it’s difficult to find an attorney who charges anything under $100 per hour — and up to $400 per hour — you need to have a financial game plan in place quickly. It may be the difference between protecting yourself and your assets or watching as both are overtaken by financial stress.
Share any concerns you might have about affording legal counsel with your attorney and, if you’re currently receiving government assistance, the court. Payment plans and waivers (which free you from paying some or all court costs and fees) can help tremendously.
Did you know? In some cases, your lawyer might be willing to convert a case to one that provides her or him a contingency fee so you have a little bit of financial breathing room. That can be you don’t have to worry about how to pay for lawyer fees right away.
Barring any sort of contingency arrangement or fee waiver — or perhaps even alongside them — liquidating your assets may prove your only available option. The court might even dictate this to settle a ruling against you since a ruling of payment is considered debt for which you are responsible.
If liquidation is required, you will be appointed a trustee who determines whether anything can be sold to pay your debt. Trustees could decide to liquidate everything or nothing at all. You will not, however, be left empty-handed. Laws are in place to prevent such a thing from happening. If the amount you owe is less than the worth of your home, the money left over will be returned to you.
Did you know? Listing your home with a traditional Realtor can eat up a lot of time and money you may not have, especially when dealing with legal matters. You’ll need to find one you’re comfortable with, make any repairs she or he requests schedule showings, and so on.
If you choose to sell your house fast to cover legal fees, HomeGo House Buyers can help you find financial peace in a matter of days. We simplify the home sale process to three straightforward steps:
You receive the money you need without spending anything on closing costs or commissions, and you bank valuable time to take care of pressing legal matters.
We understand the financial strain that comes along with legal troubles. That’s why we make the home selling workload as light as possible. If you cannot afford high legal fees and are considering selling your house, HomeGo is here to help. Reach out to see how you can sell your house to pay for legal fees today!