Many car accident victims readily agree that they want the help of a personal injury attorney after an accident. However, many are stumped at how to pay the legal fees. Many personal injury lawyers know how difficult that situation can be and offer some victims an opportunity to get the attorney help they need before they are paid any money. Read on and learn more.
Money to Hire a Lawyer
Legal fees have a reputation for being expensive. However, this way of paying a lawyer is different. Rather than pay a lawyer by the hour or by the case, a contingency fee arrangement is based on a percentage of the amount won by the victim. The lawyer is paid a certain percentage of either a settlement or a court judgment. As the victim taking action against the at-fault driver, you won't owe your lawyer any money until the case is over and you have won money. If you don't win any money, you won't owe your lawyer.
The lawyer will begin working on your case after they agree to represent you and you sign an agreement that sets out the scope of their work. The agreement lists what the lawyer will do for you and how much of a percentage you will owe the lawyer once the other side pays you. In most cases, the lawyer is paid directly from the settlement when you agree to it.
For example, if you agree to settle your car accident case for $150,000, you might owe your lawyer $45,000 of that if you agreed to pay them 30% of your winnings. The percentages lawyers are paid vary from case to case.
What to Know About Percentages
While many personal injury lawyers base their rates on what is common in the local area, victims should know that the percentage rate is negotiable. Rates are often set based on these factors:
- Years of attorney experience
- The dollar amount of your medical bills
- Local reputation
- The complexity of the case. For example, if fault is in contention, the case may be more complex.
- Settlement or court case. Court cases require more work and victims may pay more for trial representation.
Will They Take Your Case?
Your lawyer will only take a case that they predict will result in monetary compensation. That usually means you have physical injuries, the other driver had insurance, and the other driver was at fault. The lawyer must have confidence in winning your case because otherwise, they won't make any money.
To learn more about this way of paying legal fees, contact a personal injury lawyer.