Personal injury attorneys usually charge clients in one of two ways: hourly rates or contingency fees. Hourly rates are a common fee arrangement where the attorney charges a set hourly rate for their services, and the client is billed for the actual time spent working on their case. The hourly rate may vary depending on the attorney's experience, location, and the complexity of the case. On the other hand, contingency fees are a payment arrangement where the attorney's fee is contingent upon the successful outcome of the case. This means that the lawyer only gets paid if they win the case, and the payment comes as a percentage of the compensation received by the client.
What are contingency fees?
A contingency fee arrangement allows clients who might not otherwise be able to afford legal representation to have access to the justice system. It also incentivizes personal injury attorneys to work diligently and efficiently on behalf of their clients. Typically, this percentage ranges from 33% to 40% of the total settlement or verdict amount. However, clients should understand the specifics of their contingency fee agreement, including any additional expenses that may be deducted from the final settlement or verdict. It's important for clients to feel comfortable with their attorney and confident in their ability to represent their best interests.
What percentage will your personal injury attorney take from your case?
The percentage that a personal injury attorney takes from a client's case depends on the fee agreement signed between the client and the attorney. In a contingency fee arrangement, the payment comes as a percentage of the compensation received by the client, and the percentage typically ranges and is dependent upon the attorney's experience and location. It's important to carefully review and understand the fee agreement with your personal injury attorney and to ask any questions you may have before signing the agreement to ensure you are comfortable with the fee structure.
Reaching a settlement in personal injury cases
In personal injury cases, a settlement is an agreement between the injured party and the party responsible for the injury, or their insurance company, to resolve the case outside of court. The terms of the settlement are typically negotiated by the parties and their attorneys, and the settlement amount may be paid in a lump sum or in installments over time.
A settlement can be reached either before or after a lawsuit is filed. If a settlement is reached before a lawsuit is filed, it is often referred to as a pre-litigation settlement. In this case, the injured party and their attorney negotiate with the other party or their insurance company directly. If a settlement is reached, the injured party will typically receive compensation for their injuries without the need for a lawsuit.
If a settlement is reached after a lawsuit is filed, it is often referred to as a litigation settlement. In this case, the injured party files a lawsuit against the responsible party, and the case proceeds through the legal system. However, the parties may still negotiate a settlement at any point during the legal process. If a settlement is reached, the injured party will typically dismiss the lawsuit in exchange for the settlement amount.
Why is it important to work with a personal injury attorney?
It's important to work with an experienced personal injury attorney who can help determine the best approach for the case and negotiate a settlement that is fair and just. Both pre-litigation and litigation settlements have their advantages and disadvantages, and the best approach depends on the specific circumstances of the case.
That is why you should call the experienced accident attorneys at Demesmin and Dover Law Firm. We handle your case with the utmost care and ensure that you are informed at every stage of the process. We believe it is our responsibility to help our clients find ways to stay safe on the road and to help them in the time of need. Call us today at 866-954-MORE (6673) for your free consultation.