A Deep Impact: Criminal Records And How They Affect Your Finances


We all hit periods of financial instability in our lives at the best of times. If you are someone who ended up on the wrong side of the law and had a criminal conviction, it can have a devastating impact on your life in so many ways. Financially speaking, the impact of a criminal record can have a further reach than you realize.

The cost of attorneys…
The big cost throughout the whole justice process would be the criminal defense. Although there are many criminal defense lawyers, like Takakjian & Sitkoff, LLP who can discuss the costs on a case by case basis, the overarching cost does depend on varying factors. It does depend on the crime firstly, but also the attorneys themselves could charge a flat rate, or they could charge hourly fees. As a result, the complexity of the crime involved could mean a higher rate.

Your employment…
Financially speaking, a criminal record is going to have a financial impact on your ability to hold down or even apply to, a job. Overall, because of a criminal record, however small, this can cause issues during the application process. And if you spent time in jail, it might set you back in life. But also, the loss of income could mean that any fines you face could be more difficult to pay. And if you throw into the mix the terms that the court imposes, the difficulties in finding sustainable employment are very real for most people who have a criminal record.

The resultant financial problems…
It’s not just in relation to your own financial difficulties, but there could be impacts on your dependents or loved ones. If you end up losing a job because of a criminal record or having to go to court and serve time in jail, as well as pay fines, the financial problems that arise as a result can impact you in other areas. A good example would be if you were convicted of a DUI, and had your license restricted. As a result, the costs of getting to work could mount up in other ways.

The personal impacts…
It all depends on the sentence you serve, but if you go to jail, there is minimal financial support from the government, but the impact on your life could be detrimental. Financially, losing your job, trying to pay fines, and attempting to get your life back on track can result in personal problems. Of course, the overarching problems that arise with a criminal record spill over into someone’s personal life. But that’s not to say that criminals can’t get back on track. You can be assigned a mentor, and they can help you get back to some semblance of normality. These mentors can help you apply for support in a financial sense, but you can also get the personal support needed if everyone else in your life has deserted you.

A criminal record can be a millstone around your neck, especially when it comes to your finances, but that’s not to say that it won’t impact you forever. A criminal record can have an effect on your finances but there are ways to bounce back.