Most people would rather play a round or two of golf than go to court to thrash out a law suit. Whether you are the plaintiff or the defendant you are going to incur some sort of expense and if it is not managed properly; then as a plaintiff, it will reduce the value of your settlement. And as the defendant it could mean a lot of out-of-pocket expense. Knowing how to manage your business could mean the difference between sinking into debt and making wise decisions to protect your financial health.
1) Do it yourself
There are certain cases where you will definitely need to hire a lawyer to seek your interest. However, in cases where there are minor disputes between yourself and someone else. You can fore go lawyer’s fees by representing yourself in small claims court – especially in cases where the sued amount is less than a thousand dollars.
The small claims court system requires a lower burden of proof, and with the experience of the judge, you will have a fair trial, minus the layers fees. In fact, in some cases the judge may find that you deserve more compensation than what you originally asked for.
If you go the DIY way, consider simple settlement loans instead of diving into more debt or selling off your belongings. Be sure to closely review the small print and make the wise decision in your situation – every situation is different. If you decide this is the best route for you – try AnyLawsuits first, they offer a great service.
2) Do not exaggerate your claims
In situations where the plaintiff is suing for medical compensation, they tend to tack on claims that they think is related to their claim, anticipating that it would be recovered. For example, someone is suing for a fall, and went ahead to do a MRI scan that their doctor did not authorize. The judge will not award you that money because it was irrelevant to your situation.
3) Do not assume a win
Some plaintiffs are so convinced that their case is airtight that they actually amp up their spending habits based on an anticipated win. When their financial expectations are not met, they end up in debt that is totally unnecessary. The irony of this situation is that the plaintiff quickly becomes the defendant, as he is now pursued by creditors for their money.
Financial debt is very easy to get into and can take a long while to get out of. The best strategy to avoid debt during a lawsuit is to be honest. Usually, when you are motivated by greed you lose perspective about what is really best for you. In the end you may wind up worse off than when you started.
Bio: Aaron B. is an under-graduate writer who enjoys writing financial articles that help readers understand their options and how they can save money.