How to Get a Personal Loan for Legal Fees
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Legal fees can be complex. There are many different types, and they can add up quickly. While every case is different, many find themselves spending thousands of dollars just to employ the services of a lawyer.
For example, legal defense fees for a DUI quickly reach upwards of $8,000. A collaborative divorce can cost anywhere between $25,000 and $50,000. Other cases can cost just as much, if not more, depending on what percentage a lawyer is paid if he or she wins the case.
Additionally, you could be required to pay a retainer fee up front, which depends on your lawyer’s hourly rate, which can easily reach several thousand dollars.
Long story short, legal troubles can quickly become costly troubles. If you need help covering these fees, you can consider personal loans for legal fees.
On this page:
Personal Loans for Legal Fees
Compare Legal Loans
- Rates starting at 5.75% APR
- Prequalify without impacting your credit score
- A minimum credit score of 680 is required
- Fixed rates between 7.99% and 35.97% APR
- You can check rates without hurting your credit score
- A minimum credit score of 620 is required
- Rates are typically between 8.41% and 35.99% APR1
- Funds can be received in as fast as one business day
- A minimum credit score of 600 in most states
The companies below offer personal loans that can be used to cover legal fees. Be sure to check the eligibility requirements before applying.
Figure
Rates (APR)
5.75% – 22.94%
Loan Amounts
$5,000 – $50,000
Credit Score
680+
Figure is a good option for those with good or excellent credit. The entire application process is completed online and can be finished in minutes. One benefit of Figure is that you can get prequalified for a loan without any impact on your credit score.
- Credit score category: Good or excellent
- Soft credit check: Yes
- Deposit time: As fast as two days
- Origination fee: 0% – 3%
- Late fee: Not disclosed
- Discounts: 0.25% for making automatic payments
- Repayment terms: 36 or 60 months
Upgrade
Rates (APR)
7.99% – 35.97%
Loan Amounts
$1,000 – $35,000
Credit Score
620+
Upgrade offers loans for borrowers with bad or fair credit, as well as those that need smaller loans. You can check rates without affecting your credit score.
- Credit score category: Fair, bad
- Soft credit pull to check rates: Yes
- Deposit time: As soon as the next day
- Origination fee: 2.9% – 8%
- Late fee: $10
- Repayment terms: 36 or 60 months
Upstart
Rates (APR)
8.41% – 35.99%1
Loan Amounts
$1,000 – $50,0002
Credit Score
600+
Upstart is an online lending platform that partners with banks to provide personal loans that can be used for almost anything. Upstart’s lending model considers education, employment, and many other variables when determining eligibility.3 This model leads to 27% more approvals and 16% lower rates than traditional models.4
- Credit score category: Fair, bad
- Soft credit pull to check rates: Yes
- Deposit time: As fast as one business day
- Origination fee: 0% – 8%
- Late fee: $15 or 5% of payment
- Repayment terms: 36 or 60 months
Eligibility Requirements for Legal Loans
There are a variety of online lenders that provide loans for lawyer fees. Many of those lenders allow potential borrowers to see the loan information (rates, terms, and limits) without a hard credit check, meaning you can shop around without damaging your credit score.
Though few lenders specifically call out “legal fees” as a reason for a loan, many lenders will allow qualifying borrowers to use the loan funds in any way they choose.
Credit Score
Eligibility can be based on a variety of unique factors and can vary from lender to lender. However, most lenders require borrowers to have a good credit score (670 or higher), a reliable source of income, and an active bank account.
There are, however, fair credit loans and bad credit loans available for people with less-than-stellar credit. Many lenders, like Avant and Upstart extend personal loans to those with fair or bad credit scores. You will, however, likely be required to pay a higher APR for those loans.
Citizenship Status
Additionally, borrowers in the United States are typically required to be citizens or permanent residents who are at least 18 years old. However, there are non-U.S. citizen personal loan options.
Loan Amounts
Another important factor to consider is how much the lender will allow you to borrow. This can also vary, though many lenders will approve loans as high as $35,000 to $50,000. Some lenders even grant loans for $100,000, depending on your credit score and income.
If you have existing or approaching legal fees and need a way to pay them, a personal loan might be a reasonable option for payment. As you review your sources of financing, be sure to get a firm idea on how much you may need, and shop around to review the best personal loan lenders and rates.
How Legal Fees Typically Work
If you plan on taking out a personal loan for legal fees, it’s important to identify the types of fees you may incur and get a general idea of how much money you’ll need to borrow.
Though lawyer fees vary, here are a few fees you will likely need to account for:
- Retainer: A retainer can be considered as somewhat of a down payment and is typically required up front before the lawyer works on the case. In most cases, the retainer is then used to cover a portion of the fees that are incurred throughout the process. Retainers are typically non-refundable, however, so if you decide to stop working with a particular lawyer, it’s likely you won’t get that money back.
- Hourly costs: Much like it sounds, this is a fee a lawyer charges per hour to work on your case. For example, if the lawyer’s fee is $100 per hour, and they work on your case for seven hours, the fee would be $700. The hourly fee depends on a variety of factors, including the type of case, the lawyer’s experience, and even your geographical location.
- Litigation costs: “Litigation costs” is somewhat of a catch-all phrase that includes attorney fees, court fees, and copy fees, as well as fees related to obtaining or hiring witnesses, accessing records, recreating an accident scene, etc.
- Contingency fee: A contingency fee is a percentage of the sum awarded if you win the case, resulting in a monetary sum. For example, if a case resulted in an award of $60,000 and your lawyer charged a one-third contingency fee (which is common), the fee would be $20,000. As the name would suggest, this fee is contingent on the outcome of the trial, and if the lawyer loses the case, a contingency fee will not be paid.
Recap of Loans for Legal Fees
The lenders below are only some of your options for taking out a personal loan. Make sure to compare all of your options and remember that you should never borrow more than you can afford to repay.
| Lender | Credit Score | Rates (APR) | Loan Amounts |
| Figure | 680+ | 5.75% – 22.94% | $5,000 – $50,000 |
| Upgrade | 620+ | 7.99% – 35.97% | $1,000 – $35,000 |
| Upstart | 600+ | 8.41% – 35.99%1 | $1,000 – $50,0002 |
1The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 21.97% and 36 monthly payments of $35 per $1,000 borrowed. For example, the total cost of a $10,000 loan would be $12,646 including a $626 origination fee. APR is calculated based on 3-year rates offered in the last 1 month. There is no down payment and no prepayment penalty. Your APR will be determined based on your credit, income, and certain other information provided in your loan application.
2Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. Loans are not available in West Virginia or Iowa. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5100. The minimum loan amount in GA is $3,100.
3Although educational information is collected as part of Upstart’s rate check process, neither Upstart nor its bank partners have a minimum educational attainment requirement in order to be eligible for a loan.
4Approval numbers compare the 2020 loan approval rate by the Upstart model and a hypothetical traditional credit decision model. The APR calculation compares the two models based on the average APR offered to borrowers up to the same approval rate. The hypothetical traditional model used in Upstart’s analyses was developed in connection with the CFPB No Action Letter access-to-credit testing program, is trained on Upstart platform data, uses logistic regression and considers traditional application and credit file variables.
