One of the most stressful aspects of filing an appeal is figuring out how to cover the costs. Thankfully, there are many options available for financing the costs of an appeal to help overcome that barrier to justice. The expert appeals attorneys at The Appellate Law Firm understand how confusing the process of financing your appeal can be and are here to provide you with options for covering the costs. To learn about other methods for financing an appeal call our office today and read Parts 1, 2, and 3 of this article.
Options for Funding an Appeal
There are many ways to finance the costs of an appeal through the use of an institutional lender, friends and family, or through your own resources. Be sure to do your research and due diligence before committing to a contract for financing and talk to your appellate lawyer about your options. Some of the most common methods for financing an appeal include the following:
401(k) and Pension Plans
A 401(k) and similar pension plans allow you to borrow money that you have accrued for any reason, including to finance an appeal. You repay the loan with deductions from your paycheck according to the terms of your particular plan. If you have an old 401(k) plan from a previous employer, you can either roll it into a new plan or cash it out to pay for an appeal. However, it is important to note that if you are under the age of 59 ½ years old, you may incur a penalty for withdrawing funds early.
Sell Personal Property
If you do not want to go to friends and family or to an institution for a loan to cover the costs of your appeal, another option is to sell your personal property for a profit. Take stock of what you own and what you do not use or need in your life. Vehicles, collections, firearms, antiques, clothing, accessories, jewelry, and other items of personal property may be worth a considerable amount that can cover the costs of your appeal.
Using credit cards is another way to pay for an appeal; however, you need to have a plan in place before utilizing this method to finance appeal costs. Credit cards are notorious for having high interest rates that could easily get you in over your head if you charge too much on a card. You can use more than one card to pay for your appeal, and utilizing low or zero introductory rates, balance transfers, and other options on the cards it is possible to pay for an appeal without incurring much in finance charges.
Call or Contact Our Office
If you would like to learn more about how to finance your appeal, call or contact The Appellate Law Firm today. We can explain your options, including the use of legal financing. Our team can walk you through the application over the phone and pre-approve you for trustworthy lenders that can approve your loan for appellate financing in as little as a few days. Talk to us today to learn more.