Personal Injury Claims
As the victim of a personal injury accident, you might benefit from hiring a lawyer to help you file a lawsuit. if you do, you might wonder how you’re going to pay for your legal assistance. Do you have to pay upfront? Can you pay out of your settlement? Each type of lawyer does things differently, but most personal injury lawyers work on a contingency fee basis.
What Is a Contingency Fee?
Because most people can’t come up with a large sum of money in advance, personal injury lawyers will often work on a contingency fee agreement. This fee is paid from your settlement and is contingent upon you winning your case. If your case is lost, the lawyer does not receive the payment. Most contingency fees hover around the range of 33%, though it could be less or more depending on the lawyer and the severity of the case.
Are There Any Additional Costs?
In addition to the contingency fee, the lawyer will deduct any court costs from your settlement. These costs might include filing fees, investigative costs, office work and payment for other similar services. If there are other professionals working on the case with your lawyer, you should discuss beforehand how those individuals will be paid. It could be included in the costs, in the contingency fee or as an entirely different bill.
How Does the Lawyer Collect From Your Settlement?
There are two ways in which a lawyer will collect his or her contingency fee from your settlement. The first way is by deducting the fee first and the costs after that. The second way is by deducting court costs first and the contingency fee after those come out. The benefit of having costs deducted first is the contingency fee is calculated off a lower amount, and will, therefore, be a smaller payout. You should speak with your lawyer about which order he or she collects fees and costs so you can try to find someone who deducts costs first.
Is It Worth Paying?
Whether it’s worth paying a contingency fee to a lawyer really depends on your case. If it’s complicated and expected to have a large settlement, it could be worth it to hire a lawyer and pay the fee. If your case is pretty straightforward and not expected to have a very high settlement, you would have to decide if the morality of the case is more important than the cost.
Contacting a Personal Injury Lawyer Today
Personal injury cases are never fun to deal with, but you don’t have to try and navigate the situation on your own. Contact a personal injury lawyer, today to learn more.