Long, drawn-out court matters can eat through money quickly. Avoiding long court cases can help to save a significant amount of money. Here is why you should avoid long court cases if you can.
Legal Fees
You will be billed every time a new action needs to be filed in a long court case. Eventually, the money will dry up, and you won’t be able to pay any more of the bills. If you can’t pay anymore, you will be forced to go into debt or settle. It is far better to make that choice early on.
According to a Pew Research Center study, in 2018, about 80,000 people were charged with a crime, but only 2% went to trial and an overwhelming 90% pled guilty, while 8% had the case dismissed. Most people will take the shorter route to avoid the legal fees piling up. Avoiding throwing good money after bad is essential when you are facing court action.
Filing Fees and More
The fact is when a court case is dragged out, it’s not just attorney fees that will pile up; there are other legal fees that are ready to siphon off your money. Filing fees, expert witness testimony fees, investigation fees, discovery fees, and more all become cost-prohibitive when you are focused on proving a point and not putting the problem in your rearview mirror.
Sometimes, the hill you are willing to die on will drain your money. Sometimes, the fight is not worth the investment. According to the Federal Courts, only civil cases ever make it to trial. In 1962, when costs were less, about 11.5% of cases went to trial. Saving money can be as simple as making a deal early in the process.
Personal Expenses
Of course, the cost doesn’t end up with what you must pay out. You must consider the cost of missing work to attend court hearings. You also must consider travel costs. There are costs that will drain your income.
According to Court Watch, even DUI cases are not making it to trial. DUI cases are being settled during the early stages through plea bargaining. The personal cost of dragging out of a court case can be tremendous. After all your employer needs you at work and you need the income. Spending an excessive amount of time fighting in court can cost you, your income.
Lost Opportunities
A lengthy court case can cost you earning opportunities. It can also cost you relationship opportunities, social networking opportunities, and other opportunities. When you are busy and focused on a court case, you don’t have the attention to pay to other areas of your life. Your finances and money will take a hit, as will other areas of your life.
You could miss out on work opportunities; this is especially true if you are a business owner. Focusing your energies on a lengthy court case can keep you from other gains. Ultimately, when considering the fight you want to put up, you should consider the cost of the fight, including the potential opportunities you will miss out on.
Lengthy court cases are seemingly a thing of the past. More people are concerned about saving their money and finding a resolution to their court matters than they are about proving a point. Be careful what hill you are willing to take your last stance on. That hill may cost you more money than you are willing to pay.
Learn more about how to avoid lengthy court cases and how to save some money in the process. There are ways you can avoid lengthy court cases. Learn more today and protect your nest egg by advocating for your wallet.