If the other driver is at fault for your automobile crash, you will, in all likelihood, be able to hire a personal injury attorney on a “contingency fee” basis.
How Long Ago Did The Incident Occur?
If you were involved in a car accident, and the other driver was at fault, you’ll be looking for a car accident lawyer. The lawyer will be representing the person filing a lawsuit. How much will you want to pay?
Most attorneys will offer a “contingency fee” to tackle an injury case.
A contingency fee means that the attorney gets paid after you win your case and at the percentage that was agreed upon.
In this article, we’ll take a closer look at how contingency expenses work and what you could count on if you decide to hire an attorney to handle your vehicle accident case.
The Contingency Percentage
The percentage that a personal injury attorney can get hold of in a contingency rate settlement varies. Still, it usually ranges from 25 to 40 percent and 33 percent (or one-third) are pretty widespread.
So, when you have a 33% contingency rate and recover $90,000 in your car accident case, your attorney will collect around $30,000.
If the case settles earlier than it goes to court, the settlement recovered may be on the lower aspect. If an agreement occurs after the defendant has a formal answer for your argument, or if the case proceeds to trial and a jury verdict is reached, the lawyer’s share might also grow to forty percent.
For example, assume your attorney despatched a demand letter to the other driver’s insurance company and you reached an agreement for $90,000. In this situation, the legal professional could again receive $30,000 (33%).
However, assume that the case instead ended in a jury verdict of $90,000. Your settlement allows the legal professional to obtain 40% of a recovery after the complaint is answered. In this situation, the legal professional will obtain $36,000.
Additionally, similar to everything in a contract, the rate is negotiable. Suppose yours is a “cut and dry” case.
For example, you can, without a doubt, negotiate a lower contingency percentage if the guilty party:
- Admits guilt,
- There are no damages to the vehicles,
- The defendant has car insurance, and
- There is sufficient proof backing up your claim
It’s always vital to talk with your attorney about the contingency price and cautiously overview the contract. If you don’t understand the fee that is stated inside the contract, ask your attorney to explain it to you.
Fees and Expenses
Your attorney will take care of:
- Court expenses
- Litigation fees
- Medical data
- Police reports
- Courtroom reporter charges, and
- Expert witness fees
Many firms require the patron to pay the above-stated charges as they turn out to be due. Some law firm’s contracts will state that their clients are responsible for those charges. If you cannot pay these fees, your case will possibly not proceed until the amount is paid.
Other law firms (normally huge firms) will cover all fees and expenses. However, the fees and expenses might be deducted from your settlement or the fee that was agreed upon. Let’s say you settled your vehicle accident case for $100,000. Your contract stated that charges and fees could be deducted from the settlement this time. Your attorney incurred $10,000 in fees and prices. In this example, your attorney might acquire $10,000 as repayment for the charges, prices, and $30,000 for legal services. You’ll be receiving $60,000 as a settlement ($100,000-$10,000 – $30,000 = $60,000).
Make sure that your attorney takes their fee out of the “net agreement”—this is the amount left after the case costs are deducted. This net agreement is typical. Some law firms might also try to maximize their pay by taking their cash out first. Let them know that you won’t accept. If it will become a deal-breaker, it’s probably better to seek another attorney.
Other Fee Arrangements
Not all instances will involve a natural contingency fee association. Lawyers might also collect a preliminary retainer to start your case and also collect a contingency fee at the start of your case.
But, if you recover money, the quantity already paid to the attorney ought to be subtracted from the share. For example, if you paid $2,000 to the lawyer as a retainer and recovered $90,000 in a settlement, the lawyer will acquire $28,000 from the agreement ($30,000-$2,000 = $28,000).
Usually, car accident cases will not have a flat fee for legal services. Flat-fee preparations are typically reserved for much less complicated instances. A law firm may also charge a flat rate. In that case, the fee might also range from $300 to $1,000.
Is a Car Accident Lawyer Worth The Cost?
The general rule is this: The more extreme the accident, the greater the fee of hiring a legal professional. In case you have been in a minor fender bender with little or no damages, you may probably negotiate a private injury settlement without an attorney. Alternatively, if you have been injured and need any medical treatment, the price of your case rises quickly.
Even if you decide to settle the case on your own, the insurance adjuster may take advantage and offer a very low amount of compensation or deny your claim altogether. This is why it is crucial that you hire an attorney to negotiate for you as they are trained and skilled to maximize your settlement. That way you can focus on recovery and obtain the settlement you deserve.
This indicates that the insurance adjuster will try to minimize your damages and try to get you to just accept a meager settlement.
They are inside the business of earning profits, not spending it, despite everything. In that situation, having a skilled attorney on your facet will become necessary.
Joe I. Zaid & Associates are experienced and skilled attorneys that will fight for your rights and recover what you deserve. Don’t hesitate to get ahold of us, call us today at (281) 990-5200 to schedule an appointment.