Who Can Afford To Litigate In This Economy?

December 11, 2008

When litigation can cost tens to hundreds of thousands of dollars, who can afford to litigate in this economy?  Okay, who can afford to litigate other than the bailed out banking institutions?

Conflicts do not generally dissipate when money is short.  In fact, more conflicts tend to arise when money is short.  It has been said that money issues is one of the top causes for relationship problems.  Further, with a bad economy, more people are failing to comply with contractual terms, such as repaying a loan.

The bad economy has sent companies and individuals alike back to the drawing board to look for new ways to do things.  For example, people are cutting coupons, and companies are cutting employees.

Perhaps the economy is the impetus people /companies need to try mediation instead of litigation.  Mediation is generally a much less expensive process than litigation.  Instead of paying two attorneys and often multiple experts for their assistance over a period frequently lasting a year or more, both parties pay one mediator who can often help resolve the conflict in a couple of days or less.

Mediation makes good sense, especially when you are short on dollars and cents.

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