If you’ve been in a car accident, and someone else is to blame, you’ll be looking for a plaintiff’s car accident lawyer. We all know lawyers are expensive, but how much will you need to pay?
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| Car Accident Lawyer |
In this article, we'll take a closer look at how contingency fees work and what you can expect if you decide to hire a lawyer to handle your car accident case.
Fees and Expenses
Depending on the lawyer and your contract for legal services, you may or may not be responsible for upfront court fees and other litigation expenses.
These fees and expenses include court filing fees, cost of serving summonses and subpoenas, costs of obtaining medical records and police reports, court reporter fees, and expert witness fees.
Many personal injury firms require the client to pay the above-mentioned fees as they become due. If your contract states that you are responsible for these costs, you can expect a personal injury firm to call you and seek payment as the fees become due. If you cannot pay these fees, your case will likely not proceed until there is a payment.
Other personal injury firms (typically large firms), will cover all fees and expenses. However, the fees and expenses will be deducted from your settlement or final judgment. Let’s say that you settled your car accident case for $100,000. This time, your contract stated that costs and expenses would be deducted from the settlement. Your attorney incurred $10,000 in costs and expenses. In this situation, your attorney would receive $10,000 as reimbursement for the costs and expenses, and $30,000 for legal services. You would end up receiving $60,000 as a final recovery ($100,000 - $10,000 - $30,000 = $60,000).
Make sure that your lawyer takes their fee out of the "net settlement" - that is, the amount left after case expenses are deducted. This arrangement is typical. However, some law firms may try to increase their pay by taking their money out first. Let them know that you won't accept that, and if it becomes a deal breaker, it's probably best to find another lawyer.
Is a Car Accident Lawyer Worth The Cost?
The general rule is this: The more serious the injuries, the greater the value of hiring a lawyer. If you were in a minor fender bender with little or no injury, you can probably negotiate an acceptable settlement yourself. You would be doing yourself a disservice to pay a lawyer a third of a simple -- and almost guaranteed -- settlement.
On the other hand, if you were injured and needed any significant medical treatment, the settlement value of your case rises quickly. This means the insurance adjuster will work to minimize your damages and try to get you to accept a very low settlement offer – they are in the business of making money, not spending it. This fact is evidenced by a 1999 study by the Insurance Research Council who concluded that, on average, claimants represented by a lawyer received 3 ½ times the settlement money as those without.
In this case, you’ll benefit from having a lawyer to negotiate your damages effectively. Additionally, the threat of a lawsuit and trial puts pressure on the insurance company to offer a fair settlement.
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