What’s The Cost of Accident Attorneys: Here’s What You Should Know

When you need to hire a personal injury lawyer, it is inevitable to think about the cost of accident attorneys. Most personal injury lawyers will charge either contingency fees or hourly fees.

Contingency Fees

Most personal injury lawyers may charge you a contingency fee. This means that you only need to pay the attorney if he or she gets a favorable judgment for your case or successfully negotiates a settlement.

When this is the kind of arrangement, you do not need to pay the lawyer anything if you do not get money from the party who you believe caused your injuries. In case you win, you will have to shoulder the expenses of the lawyer incurred while preparing for your case.

Contingency fees are often billed as a portion of the money you will be awarded. There is no exact percentage on how much attorneys get but it varies based on your location. If you want to negotiate for a lower percentage, you have to do it prior to formally hiring the personal injury lawyer.

This arrangement is often considered a win-win situation as you do not have to shoulder anything if the judge rules against your case and it also helps the lawyer to be more aggressive as he gets paid better when the settlement or award money is higher.

If your lawyer charges contingency fees, you need to know how it will be computed. Will the fees be based on the gross award– the amount before deducting expenses of the lawyer– or will be a net judgment which is computed by first deducting the attorney’s expenses.

Hourly Fees

As the name suggests, this method of payment means you will be billed based on the hours your lawyer works on your personal injury case. You will need to pay the cost of accident attorneys whether you win or lose. The lawyer will also reimburse other expenses incurred through the course of managing your case.

Take note that hourly billing is not so common when it comes to personal injury cases. This is not popular because it requires clients to pay up front and no one in the right mind will do that especially when one is against the wall following medical expenses or other related expenses after an accident.

Hourly billing for personal injury cases is also not favorable for lawyers because they will be compensated much lower in case they win a case quickly compared to what they can get on contingency.

If a personal injury lawyer opts to go with an hourly rate, then this is a good indication that he or she might be seeing your case as a weak one. Ask the attorney if other cases are handled the same way or if they do contingency, why your case should be handled differently.

When a personal injury lawyers tries to bill you an hourly rate, it will be best to consider other

Take note that there will be other costs involved when you press charges against another party. There will be filing fees, preparation of necessary documents, possible hiring of private investigators, expert witnesses, among others. You need to factor these things in when negotiating with your lawyer and keep in mind the overall expenses that you might incur.

Planning to hire a personal injury lawyer but wondering about the cost of accident attorneys? Read more about personal injury lawyers at AccidentsAttorney.co.

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