How To Stop A Court Visit Ruining Your Finances

| April 21, 2017 | 0 Comments

There is little doubt that going to court for any reason can be a stressful experience. The formality of it can be intimidating for even the most self-assured people, and of course, you never truly know what the outcome of your case will be. But there are some scenarios where the court can be even more stressful than normal, such as when you are there over a personal injury claim. Being the injured party means you have most likely already gone through a significant amount of drama and hassle. A long, drawn-out case is the last thing when you need and when you are quite possibly still injured. Additionally, it’s not just your mental health that a personal injury claim can affect. It can also have a significant impact on your finances too, especially if you have had to take time off work to recover, and then, even more time off to attend court. None of this is ideal, but you can take certain action to help minimize the effect that your personal injury claim has on your life.

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Try mitigating the situation

Many people rush straight to court when they have suffered a personal injury, keen to hit the other party with the hand of the law and therefore claim as much money as possible. While the legal system for personal injury does exist for a reason, it is not always necessary for the case to even make it to court. You could instead try hiring a mediator, who will try to negotiate a satisfactory deal between you and the other party without the need for a court case. The mediator should be someone who is neutral in the situation, so it can’t be anyone you know. The cost of hiring a mediator is usually split between the two parties, so you don’t have to worry about footing an expensive bill all on your own.

Ask for a structured settlement

If you do end up winning the case, either in court or via a mediator, you can expect a large sum of compensation to come your way pretty fast. However, getting a lump sum in this manner isn’t always financially viable. Many people are not used to having so much money paid to them in one single transaction, and it can be tempting to spend it or not take care of it properly. Asking for a structured settlement instead means that the money is filtered down to you over a period of time. You can read the Novation Settlement Solutions structured settlement review for more information on how and why this is often a better option for many personal injury victims.

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Find legal aid

Court bills are expensive: we all know that. But did you know that you might be entitled to legal aid? If you are on a particularly low income, help may be offered to ease some of the pressure from your court bills. Of course, you may also not be offered it, but there’s no harm in asking – it could end up saving you a lot of money.


Category: Personal Finance

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