If you’ve been injured, you likely have a growing pile of bills to pay before you: medical bills, expenses from the crash, lost wages, and more. The last thing you need is another debt to pay off, especially to a lawyer billing hundreds of dollars an hour. Insurance companies often use this fear of legal costs to pressure people into settling their cases on their own.
Fortunately, we might be able to debunk the misconception that personal injury attorneys are too expensive to be available to you after an injury. While it’s true that hiring an attorney can often be a large expense depending on the case and area of practice, personal injury attorneys typically operate on a contingency fee basis.
If you’ve recently been injured and are wondering if you can afford an attorney to pursue a claim, this article is for you.
Contingency fees
Operating on a contingency fee basis means that you don’t have to pay your attorney up front. Instead, if the firm wins your case for you, they will take a cut of the total settlement or trial verdict. Currently, the industry standard contingency fee sits around 33%, though it can rise depending on a case’s unique needs. If a case goes to trial or requires significant expenses to be resolved successfully, the fee may increase.
A contingency fee payment system allows clients who would otherwise not be able to afford to add the costs of an attorney onto their existing injury-related expenses. They are able to receive legal help without financial risk, if the attorney doesn’t win the case, he or she does not get paid.
Case costs
During your case, additional costs may arise while your attorney works. To obtain medical records, police reports, and other necessary documents, and if the case moves towards trials, additional expenses like expert witnesses and deposition fees may be incurred. The firm handling your case will likely front these costs for you and subtract them from the settlement or trial verdict amount if they win.
However, if they lose your case, the firm may require that you pay the costs out of pocket. Other firms absorb the case costs on your behalf. That’s why it’s important to have an open discussion with your attorney at the beginning of your case so you are fully aware of the financial responsibility you may face if your case is unsuccessful.
Before choosing a firm to handle your personal injury claim, make sure you understand their financial policies, including how they handle both contingency fees and case costs.
If you have any questions, don’t hesitate to reach out.
Contributed to by Abby Chalmers