Contingency Fees & Personal Injury Lawyers
By far, most personal injury attorneys charge their clients a contingency fee. With a contingency fee, you only pay the lawyer if he or she is able to negotiate a monetary settlement or win a judgment on your behalf. If you receive no money from the party responsible for your accident, then the lawyer collects no fee. If you win, you’ll also be responsible for any expenses the attorney incurred in preparing your case. Many personal injury lawyers will waive the expenses if the case is lost.
Typically, contingency fees are charged as a percentage of any money you are awarded. The exact percentage will vary from region to region, but you may find that every personal injury lawyer you meet charges the same percentage. You can try to negotiate a lower percentage, but do this before hiring the lawyer.
There are two advantages to contingency fees: A contingency fee costs you nothing if you win no money, and your attorney is motivated to get the biggest award possible because he or she also stands to benefit.nnThe primary disadvantage to contingency fees is that you may not feel as if your lawyer has earned his or her fee if your lawyer is quickly able to secure a large settlement on your behalf.
Understand Your Legal Options. Contact the Personal Injury and Accident Law Center, P.A. 561-373-3800
Personal Injury lawyer fee
Most personal injury attorneys do not require accident victims to pay attorneys’ fees out of their own pockets. Instead, these cases are generally paid through a contingent fee agreement, by which a lawyer will be paid an agreed-upon portion of the total settlement. This gives the lawyer even more incentive to secure as much compensation as possible for her client. This also helps a client share the risk of loss with the attorney. If there is no award through settlement or after a trial judgment, the attorney will receive no payment.
Contingent fee agreements are also subject to litigation costs and court fees. These can include the fee to file a lawsuit, expert witness fees, copying costs for medical records, and other such expenses. It is important to know whether your attorney’s contingent fee will be calculated before or after such expenses are deducted from the total settlement amount.
Settlements can also be subject to medical liens. While many providers will accept private health insurance, some will secure their fee by filing a lien against the personal injury award. This obligates the attorney to pay the lien before distributing the settlement proceeds to the injury victim. Check with your attorney and medical providers to be sure you understand how they will be paid, what claims exist against your settlement, and if there are any other financial issues that must be addressed.
Understand Your Legal Options.
Contact the Personal Injury and Accident Law Center, P.A. 561-373-3800