If you were involved in some type of accident, having legal representation can make a huge difference when it comes to your settlement award.
But, like everyone else, attorneys do not work for free.
That leaves many victims wondering if they can actually afford the help of a personal injury firm.
Fortunately, personal injury lawyers are incredibly affordable.
Personal injury lawyers work on what is known as a contingency fee basis instead of an hourly basis.
Accident victims aren't expected to offer up any upfront payment before legal services are finalized, so anyone who needs an injury lawyer can afford one.
This also lets accident victims focus on receiving proper medical care to treat their physical injuries without worrying about another financial burden.
In the article below, we will discuss lawyer fees after a personal injury accident.
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A typical contingency fee is about one-third of your final settlement offer.
So a settlement of $100,000 would result in a $33,333 payment to your lawyer.
Lawyers who work on contingency only get paid if they win your settlement.
The fees you pay your attorney will never prevent you from paying for your medical bills or other accident-related expenses.
Working with an experienced lawyer increases your chances of getting a higher settlement offer than you could alone, even after paying the fees.
Attorney contingency fees will vary from firm to firm and case to case.
The contingency fee will fluctuate depending on the details of your case.
Although we can't say the exact percentage your legal representation with cost, the vast majority of personal injury attorneys have a contingency fee structure between 33 and 45%.
You can always negotiate a specific percentage or alternative agreement as an accident victim.
Sometimes the percentage fee paid to your attorney is determined by the merits of the case.
The longer it takes to solve your case and the more effort that goes into winning, the higher the contingency fee.
This is referred to as a "sliding scale."
The biggest advantage of a contingency fee agreement is that you don't pay the attorney for the work done if you lose your case.
This is a plus because many accident victims can't afford to pay the attorney unless they win the case.
It's also a plus because, in many cases, the plaintiff can't afford a lawyer unless there is a successful outcome.
This also motivates the attorney to do the best work they can because the larger your settlement, the more they get paid.
And if they lose, they miss out on payment completely.
The cost of legal procedures do not include personal injury attorney fees.
The costs of your case are the expenses paid by the law firm while investigating your accident or injury claim, conducting settlement negotiations, and pursuing a personal injury lawsuit.
Depending on the agreement you make with your attorney, you will have to repay the lawyer for these costs.
These costs will be deducted from your final settlement amount.
Your lawyer will try to spend as little as possible, but some costs are unavoidable.
For example, if the lawyer must file a lawsuit to protect your rights, filing fees will be a necessary cost.
If your lawyer needs to hire a medical expert to testify in a medical malpractice case, you will have to pay expert witness fees.
If you have to file a lawsuit, the costs of your case can rapidly reach thousands of dollars.
You will need to discuss several matters about costs with your accident lawyer and have them laid out clearly in your written agreement.
Once you've won your case and signed release forms, your insurance company will process them and send your settlement check to your attorney.
The check will be for the agreed-upon amount, but several steps need to happen before putting your check in the bank.
Checks are typically sent out within 7-10 business days.
When your accident attorney receives the check, they will deposit the settlement offer into a trust account until the bank clears the funds.
This ensures the insurance company has the funds to pay the amount of your check.
This step is required by law to make sure the money is there.
If you have liens filed against you, your attorney will pay those liens before sending you the rest of your check.
Liens could be:
Your attorney will deduct their agreed-upon fees from your total settlement amount when your debts and liens have been paid off.
Before hiring your personal injury lawyer, you should have signed a contingency fee arrangement that detailed the percentage your attorney will take out for legal fees.
Once they have their percentage, your attorney will write you a check for the remaining funds.
It usually takes about six weeks for you to receive the check, and then you can deposit the funds into your personal account.
Fortunately, personal injury settlements are one of the few types of lawsuits that are tax exempt.
Almost every other type of lawsuit settlement is taxable, so the winning party would have to give a portion of their compensation to the IRS.
You can absolutely settle your own personal injury case.
But this usually isn't the best way to give your case its best shot at success.
A personal injury law firm with knowledgeable, professional, and experienced attorneys gives you better access to resources that can help your case, such as expert witnesses.
Personal injury claims are complicated and require extensive knowledge of the legal system.
Unless you have extensive knowledge of the legalities of personal injuries, you will be much more likely to receive a fair settlement working with an attorney.
If you are unhappy with your personal injury lawyer, you can fire them at any time.
And if you do, it won't cost you more money.
You will only pay one personal injury lawyer fee.
When your personal injury case settles, your attorney fee is divided between the law firms that represent you.
It's divided based on "quantum meruit," or how much work each firm did.
If the second attorney did the most work, they'd get the biggest chunk of the attorney's fees from your settlement money.
Working with a skilled attorney can help ease your concerns about being able to pay your lawyer fees.
If you've been injured in an accident and need to speak to a lawyer, contact Helping The Hurt.
They understand the struggle that every personal injury client faces, and their goal is to make each client feel appreciated and ensure their individual needs are met.
The team at Helping the Hurt has helped thousands of clients get the results they deserve, and they are prepared to help you today.
Click "call now" or fill out the form below to schedule a free consultation.
References:
https://phillylaw.com/typical-personal-injury-lawyer-fees/
https://www.ligorilaw.com/faqs/how-much-will-my-attorney-make-off-my-settlement
https://www.dlawgroup.com/what-are-attorney-contingency-fees/
https://www.sweeneymerrigan.com/blog/pros-cons-contingency-agreements/
https://www.alllaw.com/articles/nolo/personal-injury/lawyer-costs-case-expenses.html
https://www.theadvocates.com/blog/what-is-the-settlement-check-process/
https://sobolaw.com/personal-injury/are-personal-injury-settlements-taxable/
https://www.thekahnlawfirm.com/faqs/can-i-settle-my-personal-injury-case-on-my-own-in-texas-without-a-personal-injury-attorney.cfm
https://www.hg.org/legal-articles/can-i-fire-my-personal-injury-attorney-24793