How a DUI Can Affect Your Financial Opportunities
ignition_interlock (Photo credit: VCU CNS)
Statistics show that 2010 about 31% of the fatal accidents that take place in United States are caused by drunk drivers. Therefore driving under the influence is considered a serious crime and the penalties for the offenders are also quite stringent. DUI charges are costly to defend – the amount of fines, attorney fees, and even increased rates for car insurance. In Atlanta a DUI Attorney explained that the courts can require installation of an Ignition Interlock Device. The amount of money laid out is not the only consequence, it can even negatively impact employment opportunities in the future Here are some ways whereby your finance might be affected after being caught for drunk driving:
Onetime expense:
After being charged with a DUI, the offenders have to spend large amounts, which can cause a significant loss to your personal financial standing.
Get out of jail, but it isn’t free! Bail bonds can vary depending on the flight risk and seriousness of the charge. They will vary from around $100 to even as much as $3,000.
Next is the fine. Fines are assigned to different charges based on their impact on others and what will be involved in resolving the case. If the case goes to court, the court costs will be added. Each state varies on cost and can be as high as $3,000.
Thirdly, if the court orders the offender to opt for a rehabilitation program, then it would mean an added expense of at least $2,000 USD.
The attorney costs can be extremely high depending on the complication or seriousness of the charges. Attorney rates can vary from as low as $2,000 USD to in excess of $22,000.
Apart from that the there are many other miscellaneous cost that the offender needs to pay out which would mean a huge financial drain.
Continuing expense:
After all is said and done in court, there will still be residual charges. One of the regular financial outlays will be the increased insurance premiums for high risk driving record. Were you aware that you could also incur an increased premium for life insurance policy? Once you have been considered a high risk for an insurance company, they have to make sure they are protected. Therefore, one bad decision might impact your budget for the rest of your life.
Thus driving under influence has many long-term and short-term consequences. It will put a strain on your budget. Just one bad decision can cost anywhere between $8,000 to $12,000 in total. It not only has a one time effect on your life financially and personally, it can take years to clear your record and get back on track. It isn’t worth it!
Share this:
Category: Family Finances
