Though it may be surprising, the most straightforward answer is that it could cost nothing or something.
That seems vague, but the cost for a personal injury lawyer depends on your case. Whether it is a settlement, goes to trial, whether your case is won or lost, and the amount of compensation won are all factors that play a part.
Though it is difficult to give an exact number based on those circumstances, we will dig deeper to help you understand how personal injury lawyer’s fees are determined.
How does a personal injury lawyer get paid?
Personal injury lawyers are often paid through a contingency fee, which is the amount of money a lawyer receives if the case is won. This is the agreement many people prefer because it’s more affordable.
If the case is lost, the client won’t owe the attorney any money. If the contingency fee is the chosen payment option, you will owe the agreed-upon percentage no matter how long it takes to win the settlement or the amount won.
What is the standard contingency fee?
A standard contingency fee is a percentage rather than a fixed amount. This is because it’s challenging to know how much a client will receive in a settlement or trial.
A personal injury lawyer’s most common percentage is 33% of the settlement amount and 40% if a lawsuit goes to trial.
How will my lawyer receive payment?
The process of receiving payment begins at your first consultation. This is when your attorney will evaluate your case to decide if it is worth taking on. This evaluation includes a risk assessment to determine the likely outcome of the case and an estimation of how much work your case may require to win.
In some cases, an attorney may find that you are better off handling your case on your own. Good personal injury lawyers will tell you this upfront.
The evaluation may also lead the injury lawyer to say your case isn’t viable.
If your personal injury attorney decides to take on your case, their payment will come directly from your settlement payment when the law firm receives it. It is important to remember personal injury attorneys are only paid if and when they collect on your behalf.
Now that you understand how a personal injury lawyer’s fees relate to a win and the possible percentage you pay, this should help get rid of any nervousness you have when seeking assistance.
Timberlake & League provides free consultation, which we can conduct by phone or in our office. If you cannot come to us, we could visit you.
We are here to help and will put all the power at our disposal in service for you. We want to make sure you and your family get fair compensation for losses and damages stemming from a personal injury.
If you or a loved one have questions regarding a personal injury lawsuit, please contact the experienced attorneys at the law office of Timberlake & League. We can help.
