After being injured in an accident, you’re facing mounting debt, high medical bills, and chronic pain and trauma. You want to fight to be fairly compensated, but you can’t take on the insurance companies alone, and you know you need an attorney to advocate for you. But how much does a personal injury attorney cost?
We understand you’re worried that you can’t afford attorney fees, but fortunately, most personal injury attorneys work on a contingency fee basis. To help you better understand this system, we’re breaking down what it all means.
What Is a Contingency Fee?
An attorney working on a contingency fee basis means that rather than charging an hourly fee or requiring a retainer, they only take payment if and when their client receives compensation. Any fees are then taken from the settlement directly, rather than you having to worry about paying a bill. Often, the attorney takes a fixed percentage of the settlement fee, so the higher the settlement for the client, the larger benefit to the law firm.
How Much is the Percentage of a Contingency Fee
The contingency fee varies depending on the law firm. Typically, the amount ranges between 25 and 40 percent. It’s important to note that higher percentages don’t necessarily mean the best attorney, nor that the lowest percentage is the best option. It’s important to talk to the law firm, find out what’s included, how they will investigate your case, and learn more about what they do before determining if the fee is a good value.
Factors that may affect the fee include:
- Whether court fees are included;
- Whether the case goes to trial (the fee may be increased);
- Whether extensive costs are anticipated;
Everything should be clearly spelled out in the contingency fee agreement, and it’s important to ask questions if you aren’t sure what something means.
Benefits to Hiring on a Contingency Basis
Having a contingency fee agreement is highly beneficial to accident victims. During this time, you’re focusing on recovery and struggling with lost wages and medical bills, so hiring an attorney on a contingent basis means you don’t have to worry about the up-front costs or hourly rate. If there is no recovery or settlement, you don’t need to pay the attorney fees.
This method puts the risk on the lawyer, rather than you. We work without getting paid during the case, striving to get the largest recovery for you. Only then do we accept payment, taking fees directly from the recovery, so you don’t need to worry about complicated billing.
Court Fees and Expenses;
Many personal injury attorneys include court fees and case expenses within the contingency fee agreement, though some do not. These include all the out-of-pocket costs the lawyer incurs in order to investigate and handle the case and can include:
- Medical record acquisition
- Police report acquisition
- Expert witness fees
- Court filing fees
Schedule a Free Consultation with Our Personal Injury Attorneys Today
If you’ve been injured in an accident, the Ivey Law Firm is here for you. We will fight on your behalf to secure a fair settlement and only accept payment for our services if you receive compensation. To schedule a free case consultation, reach out to us today at 888-335-0015 or fill out the form below to get started.