It's not exactly a secret that hiring lawyers is a potentially expensive proposition. That's especially the case for folks who are hurt and unable to work as a consequence. You might wonder how you're going to pay a personal injury attorney to represent your interests. There are two common ways to pay attorneys in the injury field so this article takes a look at both.
Contingency
Working on contingency is easily the more common approach. A contingency case is one that's contingent on you obtaining compensation for your injuries. In other words, lawyers who work this way only get paid when they win and get money for their clients.
The obvious benefit of this approach for clients is that they don't have to front any money to pay for counsel. If you're staring at medical and utility bills that keep piling up, a contingency basis for a case is possible a big deal for your financial outlook. Taking cases on contingency also incentivizes attorneys. After all, they're not paying their bills either if they don't get money for their clients.
A slight downside to this approach is that the personal injury attorney takes a fairly sizeable of any settlement or judgment. 33% is a long-standing figure that many lawyers use, although you're welcome to negotiate. Bear in mind some attorneys may go higher on cases that have low payoffs.
Also, your lawyer will take their expenses out of your compensation. That can add up when you're looking at filing fees, the costs of paper and printer ink, and travel expenses. On the flip side, the attorney is paying all of this out of pocket. Worse, they risk not getting a nickel of it back if they lose.
Flat Fees
Of the two possible fee structures, a flat fee is vastly less common. A lawyer might elect to go with a flat fee if a case is fairly small and simple, such as an uncontested claim that requires basic paperwork.
Some attorneys will take injury cases for flat fees. However, they will expect to be paid upfront. Likewise, these lawyers will continue to charge expenses as they come in. There's nothing wrong with that approach, but it may be far from ideal for someone who can't make rent, let alone pay for counsel.
Which Approach Is Best?
Each has its virtues. However, taking cases on contingency is far and away the popular option with both clients and attorneys. For more information, speak with an attorney.
Share24 August 2020
Did you know that many personal injury and car accident cases do not even end up being heard in front of a judge or jury? That's because most defendants would rather settle out of court so that they do not have to go through the expense and annoyance of a lengthy court battle. Personal injury attorneys need to be prepared for this. In addition to being ready to defend their clients in court, they need to be skilled negotiators. As you can see, this is a job that requires many diverse skills! Learn more about those skills, and about personal injury attorneys in general, right here on this site.