Attorney fees can vary dramatically from one firm to the next, and they don't all use the same fee structures either. This can make the process of finding the right lawyer frustrating and confusing for prospective clients, but it is an important step in determining who to hire for your case. Most personal injury attorneys will offer a fee structure based on either an hourly rate or contingency fees. You need to be sure you fully understand the different fees and what services you are paying for before moving forward with any attorney you consider working with.
Our experienced Denver, CO personal injury attorney knows what it takes to negotiate with insurance companies to get you fair compensation to help cover your medical bills, damages, and other costs resulting from your injury. If you are considering filing an injury claim our team can help guide you through the process to ensure you get the settlement you deserve. Contact us today to schedule a free, no-obligation consultation for your case.
How Much Does it Cost to Hire an Injury Attorney?
One of the first things many people who have been involved in an accident want to know is how much an attorney will cost. Between property damage costs, medical bills, and possible loss of work it is common to believe that you will be unable to afford to hire a lawyer to take on your case, but most personal injury lawyers understand this situation and work on a contingency fee basis, rather than billing hourly rates or flat fees.
When a lawyer agrees to take your case with a contingency fee contract, this means that they will take their fees and recover the costs associated with your case from the settlement or judgment you receive from your personal injury lawsuit. You will want to read the contingency fee agreement carefully to be sure you understand the arrangement fully, but these situations often mean that if your lawyer is unable to recover damages for you, you will not owe them any money.
When you are going through the process of choosing the right personal injury lawyer for your case you should be sure to ask them questions about their fee structure. They should be more than happy to go over their pricing with you and make sure everything is clear before you put pen to paper. If you do not have a full understanding of how they will bill you or what services they provide, you should avoid signing anything.
You will have to weigh the pros and cons of hiring an attorney on a contingency fee bases, but for many people filing personal injury claims-paying with a portion of their settlement check will be preferable to dealing with paying on an hourly basis for billing or paying money upfront.
Factors That Affect the Percentage of Contingency Fees
Following the successful conclusion of a personal injury case, whether through settlement or court judgment, your attorney will take their payment from the money you are awarded based on the contingency fee agreement. The percentage they take will depend on the contingency fee structure you agreed to at the beginning of the case.
There are a number of different factors that will be written into the contingency fee arrangement that impact the percentage your attorney will collect from your financial award. These can include:
- Expenses paid by the attorney during the case
- If the case is settled out of court or goes to trial
- How complex your particular case is
Given that most attorneys will not collect anything if your case is unsuccessful, it stands to reason that they will take a higher percentage for more complicated or difficult cases, as they are taking on more risk. This will be made clear to you before any work begins on your case.
Settlements generally require much less work than taking a case to trial. Due to this most attorneys will charge a larger percentage if your case goes to trial vs getting settled out of court. There is no particular rule for what exactly this percentage will be, but typically they will agree on around 30% for a settlement offer vs 40% for an award won in a trial. These numbers will be specified in the contingency fee structure you agree to before any work on your case starts.
Many accident attorneys will pay for certain unavoidable expenses throughout the litigation process and recoup these out-of-pocket costs from your fair settlement. These can include travel costs, administrative expenses, expert witness fees, and more. This is especially true of cases that make it to trial, as they will have court fees and other expenses associated with it. In these situations, your attorney will include the details of how they will be reimbursed written into your agreement.
They may recover their expenses either before or after taking their agreed-upon percentage from your financial award. Be sure to read your agreement thoroughly and ask questions about anything you are unclear on to ensure you have a full understanding of the payment structure you are signing.
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This may seem like a lot to understand and you may be tempted to represent yourself or attempt to negotiate your settlement alone to cut out the fees your attorney will collect, but this is typically a bad idea. Remember that an experienced lawyer with a track record of success is likely to get you a far larger award than you will be able to manage to attempt to handle your settlement negotiations alone.
Review Your Case With an Attorney For Free
If you have been injured in an accident and are looking for the compensation you will want to find legal representation as quickly as possible. An experienced attorney will be able to file your injury claim and help you recover monetary damages through your settlement or financial award, and many are willing to work on a contingency basis. Recovering from an accident can be a difficult time as many accident victims try to focus on their case, their healing process, and the stress that financial losses often bring.
At Denver Car Accident Lawyers we understand how devastating these situations can be, and are prepared to help you through them. We will fight to get you the maximum compensation for your damages while you focus on your recovery. Work with a talented accident attorney at Denver Car Accident Lawyers to get the best result possible from your personal injury claim. Call us today or schedule an appointment online for a free initial consultation!