If you’re like most people, you don’t have a lot of experience being arrested and charged with a crime, so you may not be aware of the potential financial issues that can come alongside an arrest. Even if you have had run ins with the law in the past, you don’t want a new situation to significantly affect your finances, so you need to be smart about how you manage your money following an arrest. We talk about some financial aspects following an arrest in today’s blog.
Budgeting After An Arrest
The bills can start to add up in a hurry following an arrest, but it’s important that you take a moment to assess the situation and make some smart decisions at the outset that will set you up for success in the future. The first thing you’ll want to do after an arrest is do what you can to keep your employment. You’re going to need to keep money coming in, so don’t miss work because you’re in jail or at court if you can help it.
For example, some parents want to teach their kids a lesson and have them spend some time in jail after a stupid decision. We understand that there needs to be consequences, but if not bailing them out will cost them their job and cripple their ability to meet financial obligations to you or the court, it’s probably not a wise move. If you’re the one that needs to get out of jail in a timely manner, consult with a lawyer. Avery and the team at Appelman Law Firm can help to quickly secure your release and help you get back to employer or family obligations without interruption.
Speaking of talking to a lawyer, that is another great step to take if you want to be budget conscious about your arrest. Now, you might be thinking, “How does paying for a lawyer help to keep costs down,” but as we’ve talked about on the blog in the past, paying for a lawyer can actually help save you money in the long run. You have a much better chance at getting the charges dropped or reaching a favorable outcome if you hire a lawyer, and typically that involves much cheaper penalties, which save you money over time.
For example, instead of pleading guilty to DWI and facing fines, court costs and big spikes to your car insurance premiums, you could pay a lawyer who could help get the charges dropped or strike a plea deal for reckless driving, which will not lead to a massive spike in car insurance premiums like a DWI conviction does. You may pay $2,000 for a lawyer, but if that saves you $10,000 preventable car insurance premium increases over the next five years, it will be well worth it. At a minimum, take a free consultation with a lawyer and see if hiring them makes fiscal sense.
And finally, you’ll want to start setting aside some income to help pay legal fees or fines that may be coming when your case plays out. If you can start saving some money, any expenses at the conclusion of your case will not be as financially crippling as if you had not started to save for this upcoming expense. It’s never fun to set aside money for fines, fees or court-related expenses, but being proactive as your case plays out will help keep a conviction from really hurting your family budget.
If you work to keep your job, you take a free consultation with a lawyer and you start to squirrel away any extra income to prepare for some court-related expenses, we’re confident that a conviction will not become a financial disaster for you and your family. For more information, or for help with your criminal case, reach out to the team at Appelman Law Firm today at (952) 224-2277.
