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Seven Questions to Ask Your Car Crash Attorney

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If you look around, you’re bound to come across a lawyer or two, right? And, believe it or not, that number is on the lower end of the scale. It begs the question: How do you go about choosing one who’ll be a suitable fit for you?

Picking a Car Crash Attorney

Finding yourself in a car accident is among the worst things that could happen to anyone. You’ll likely want to get out of that fix, and fast. What you should do in such a situation is meet and ask an accident lawyer some questions to determine suitability. This article sheds light on what questions you can ask a lawyer before retaining them.

1. What Is Your Legal Specialty?

While many attorneys are generally equipped to handle your car crash claim, some are specialized in particular legal areas. To win your case, it would be best to select a lawyer that is well-versed in car accident cases.

2. Will You Personally Handle My Case?

It baffles many clients that, after a long period of vetting potential lawyers, they end up being represented by the junior staff. This is not to say that these paralegals and junior attorneys are not qualified, just that it would be better to know what you are getting yourself into from the get-go.

3. Do I Have a Good Chance of Success?

It is the norm for most car accident claims to bear the burden of proof to show the extent of the other party’s negligence. This can be due to their breach of duty of care toward you that resulted in the accident. 

Supposing the chances of winning the civil claim are low, it would be advisable to simply accept a settlement from the insurers rather than proceeding to trial. Always ask for the genuine opinion of your lawyer before biting off more than you can chew.

4. What Is Your Fee for My Case?

Many car accident attorneys work on a contingency fee basis, which means they will only receive a payment if you win or settle with the insurers. Attorneys who work on such a basis are typically compensated with a percentage of the total compensation. Suppose you cannot afford an attorney’s retainer. In that case, a contingency fee may be a better option for you.

5. What Fees and Costs Will I Be Responsible For?

If you choose to retain an attorney who agrees to accept your case on contingency, you may still be obligated to pay any associated costs and fees, including attorney fees, that were incurred while your case was being investigated and prepared for filing.

To prepare better, be aware of the specific expenses that you may be liable for.

6. How Long for My Case to Be Resolved?

Suppose you sustained severe injuries resulting from your automobile accident. In that case, you might be alarmed to discover that your hospital expenses are piling up. You may find yourself in an even more precarious financial situation if you cannot go back to work due to your accident. It is critical to inquire about how long the attorney anticipates it to take to settle your case.

7. What Can I Do to Ensure Success?

Many injury victims mistakenly believe that their only task is to sit back and wait for reimbursement after they employ an attorney. The truth is, however, that your lawyer will want you to take the initiative and see more doctors, meet with investigators, and stay completely involved in the case until it is resolved.

Stay Well-Informed

Make a list of questions you’d like addressed with your personal injury lawyer. You want to get an attorney who can answer all of your questions and make you feel at ease. At the end of the day, you should be confident that you chose the best specialist for the job.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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What Is Debt Consolidation and How Does It Work? 

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Debt consolidation combines all debts of an individual, often high-interest ones like credit card bills, into one payment system. 

Suppose you can secure a reduced interest rate. In that case, debt consolidation may be an ideal option for you, assisting you in reducing your overall debt and restructuring to help you clear it quicker.

This guide will walk you through what debt consolidation is and how it works. 

What Is Debt Consolidation?

Debt consolidation is a debt relief alternative that helps consumers bind multiple financial obligations in to one that can be regularly paid with a consolidation loan or a debt management plan (DMP).

This approach lowers the charges on debts and reduces the monthly payment. Debt consolidation sorts out the challenges faced by consumers, especially those who find it hard to service their numerous bills on time.

How Debt Consolidation Works

To consolidate debts, a borrower may request their bank or other loan providers for a balance transfer credit card, a personal loan, or a similar debt consolidation instrument. 

In the event of a debt consolidation loan, the lender may instantly clear off the borrower’s outstanding bill, or the borrower may collect the money and pay their remaining sums. 

Similarly, most balance transfer credit cards feature a recommended method for combining a cardholder’s current credit cards.

Although debt consolidation frequently reduces the amount a debtor owes monthly, it prolongs the repayment term of the merged debts. 

However, consolidating debts simplifies the payments process, making it simpler to handle finances—this is particularly beneficial for borrowers who have problems managing their money. 

Once the debtor’s old liabilities have been sorted with cash from the new loan, they’ll make just one monthly payment plan on the new loan.

Is Debt Consolidation The Same As Debt Settlement? (50 words)

While these are debt-relief options, they have a distinct difference. 

Debt consolidation transfers the borrower’s loan from multiple creditors to a single creditor but does not reduce the initial amount. 

On the other hand, debt settlement targets to lower the consumer’s debt levels. Settlement firms do not give loans; instead, they negotiate with creditors on behalf of the debtors.

Types of Debt Consolidation 

1. Debt Consolidation Loan

Debt consolidation loans are personal loans used to reduce a debtor’s interest rate, simplify payments, and generally better loan terms. 

While personal loans are often accessible in credit unions and banks, many online loan providers also provide debt consolidation services. 

However, before picking an alternative, you need to seek debt advice to give you an insight into the hidden risks. Reputable FREE debt advice platforms, such as Reform Debt Solutions, could help you. 

2. Credit Card Balance Transfer

A credit balance transfer happens when a debtor applies for another credit card, often one with lower rates, and transfers their entire balance to the new credit card. 

Similar to other debt consolidation methods, this approach leads to a single repayment to manage, may cut on the debtor’s monthly payment, and can lower the general fee of the debt by reducing the interest rate. 

Before deciding to go for a credit card balance transfer option, you should consider the accessibility of interest rates, transfer charges, transfer deadlines, and the implications of defaulting payment. 

3. Student Loan Consolidation

Student loan consolidation refers to binding different student loans into one. 

Besides reducing and streamlining monthly payments, graduates can benefit from borrower protections such as Public Service Loan Forgiveness. 

This concept is frequently used in combination with student loan consolidation, which entails consolidating multiple governments or private student loans into one personal loan.

4. Home Equity Loan

A home equity loan is a debt consolidation approach that includes obtaining a loan guaranteed by the debtor’s home value. The cash is given to the debtor in a single payment, and they can use it for clearing off or consolidating previous obligations. 

After the money is disbursed, the borrower pays interest on the whole loan. Still, since their property secures the loan, they are likely eligible for a considerably lesser interest than a debt consolidation loan.

5. Cash-out Mortgage Refinance

A cash-out mortgage refinance happens when consumers refinance their mortgage for a sum more significant than the outstanding loan balance. The borrower can then withdraw the excess in cash and clear off other debts. 

This approach then allows the borrower to combine their other loan payments with the mortgage payment to make one payment. Additionally, when the loans are folded into a guaranteed mortgage, the rate is likely to be significantly less than the rate on the initial obligations.

Pros and Cons of Debt Consolidation 

Pros

  • Combines multiple loans into one and simplifies payment 
  • Can lower the borrower’s gross interest rate
  • May reduce a borrower’s gross monthly payment 

Cons

  • Providers can charge loan origination, balance transfer, or closing fees
  • Borrowers may lose their houses if they fail to pay off the consolidation loan
  • Some come with high rates

Bottom Line

Using debt consolidation as an option for debt relief comes with many shortcomings. And indeed, it’s not the ultimate solution to the debt issue. Unlike the debt settlement approach, which reduces your loan, debt consolidation only transfers you to another lender. Besides, most of its methods tend to extend the time for settling your debts, attracting more interest rates. 

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