Impact of Texas DWI on Your Credit Score
There are many reasons to avoid a DWI. After all, a driving while intoxicated charge can lead to fines, jail time, job loss, increased auto insurance payments, and more. There is also significant strain on relationships and the need to carve time out for alcohol education courses and community service requirements.
Plus, there are situations when a DWI negatively impacts your credit score, particularly if you are unable to pay the costs of a DWI and rely on credit cards or simply do not pay fines. An experienced Houston DWI lawyer can inform you of all of your options for moving forward after a DWI charge.
Collections and Percentage of Credit Utilization
Texas DWIs often carry fines, and if you do not have the resources to pay the fine and it is unresolved, the fine could be sent to collections. Financial responsibilities that end up with a debt collection agency can negatively impact your credit score.
There are also times when people settle large fines they cannot afford by paying them with a credit card. Credit utilization is a large part of your credit score. Ideally, credit card users keep their revolving credit, the amount you carry from one month to the next, under 30% of the credit limit. Of course, best practice is to pay off the full balance each month. But if finances are tight and individuals revolve the balance, carry it forward to the next month, keeping it under a third is best.
Maintaining a quality credit score is part of good financial health. The score can be influential. A good score can lead to access to favorable debt terms for credit card and mortgages, better insurance rates, and smoother approval of rental properties.
Additional Costs and Concerns
Driving while intoxicated can impact many areas of your life, and while you may not feel a charge is connected to your finances it can result in financial harm. Talk to an experienced Houston DWI lawyer about your situation and what options are available.
Some additional costs that may need to be addressed include the following:
- Fines from $1,000 to $4,000
- Fees for vehicle impoundment
- Alcohol education class costs
- Charges for Ignition Interlock Device
- Auto insurance premiums increase
Even if you have the resources to pay all of the costs and fees, if you are convicted the conviction will be part of your record. In the event of a criminal background check, it will appear. This can be an issue in some employment situations, another candidate may secure a position you wanted because their criminal record was clear. To fight a charge, talk to an experienced Texas DWI lawyer.
Are you worrying about how a Texas DWI is impacting the finances of your family? Our experienced legal team can defend you against criminal charges. We have the knowledge to protect you whether the alleged crime was minor or serious. Reach out to the legal team at Ayson Law Firm to understand your rights. Contact us today for a free consultation with a Houston criminal defense attorney today.