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2 ways a DUI conviction can hurt your credit

On Behalf of | Mar 25, 2022 | Uncategorized |

Besides risking your life and other road users and landing you in legal hot soup, driving under the influence (DUI) can also have long-term effects on your finances. If you are convicted, you might end up paying heavy fines for the offense. This is just one of the direct financial consequences of a DUI conviction.

However, besides the direct penalties, a DUI conviction can also impact your finances indirectly in the following ways.

Higher insurance premiums

A DUI conviction may not put you in the right standing with your car insurance carrier. According to studies, drunk driving is one of the major causes of fatal car accidents. Even if you do not cause accidents, insurance companies will consider you a high-risk client following your conviction. The result, you will be slapped with a higher premium (that is if they do not terminate your contract).

Obviously, a higher insurance premium will translate into financial distress for you. And the more times you are convicted for DUI, the higher your premiums will be. This added expense may compel you to rely on credit cards to keep up with your financial obligations.

Loss of income

One of the penalties of a DUI conviction in Mississippi is jail time. Even if you go to jail for a few days, you might end up losing or getting suspended from your job. And if your job requires that you drive to work, you may experience difficulty getting to work following the suspension of your driver’s license. A conviction can also cost you your professional license. And once you lose your income, or source of income, you are likely to fall behind on your bills and even get into debt.

A drunk driving conviction can greatly impact your finances and credit. Find out how you can protect your rights and have a favorable outcome if you are charged with a DUI.