Either way you are going to pay, with a lawyer you have better chances of keeping your license if you are under 21, without a lawyer you are still gonna pay big money and will probably get really fucked over.
So when you do get a lawyer, and he really lowers the fine or completely take the charges off, you will end up losing about the same amount of money.
Street racing is dumb, all that money you are going to spend now could have gone into your car...