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When you have been in an accident and sustained damages or injuries, normally your insurance company settles your claim in a very short time. They have no desire to protract the process. Therefore, time is not a problem in this scenario rather the real problem is money. It is very unlikely that they will offer you a fair settlement. This is where an experienced personal injury lawyer can prove a great help for you. He/she works as ammunition to build your case strong and negotiate your claim in order to get the best offer. Some people believe that they are of no use because they make so much money that you do not get any ultimate gain. Let us examine the facts.
Contingency Fee
In most cases, personal injury lawyers do not ask for any attorney fee, if they lose the case. It is only if they win that they ask for a certain percentage of the award as their fee. This is what we call a contingency fee. What is more, they do not charge any fee for an initial consultation. It means that you are usually in a win-win situation because you have nothing to lose.
How much is This Contingent Fee?
This charge varies a little from state to state. As an average, a personal injury lawyer asks for one-third of the final award. However, some lawyers may agree at only 25%, but if your case goes to trial, they may ask for a higher amount. This amount can sometimes be even 40% or 50% of your final settlement. Moreover, some lawyers prefer to charge an hourly rate as well. However, whatever they charge falls within the limits of law.
Is the Lawyer’s Fee Negotiable?
This charge is not always negotiable, as sometimes the state law determines the exact fee, for example, as per the most state laws, a personal injury lawyer can charge only up to 40% of the settlement they negotiate. Moreover, even the lawyers also are usually not very interested in negotiating their fee. However, if your case is potentially worth a lot of money, you can go ahead and negotiate. It is likely that in such situations, the lawyers will agree at a lower fee.
Are There Any Hidden Costs?
Sometimes, you may have to pay certain costs associated with your case that you had not thought about. For instance, it can be the filling fee for your lawsuit. Sometimes, irrespective of whether you lose or win the case, you are responsible to pay such charges. Therefore, it is always prudent to clarify the issue of costs with your lawyer in the very beginning.
Overall, if you take care of certain factors, hiring personal injury lawyers is quite worth the fee you pay to them. Regardless of how much the lawyer charges, eventually you gain a greater reward.
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For any matter, defendant, claim or submission settled of otherwise resolved, an amount equal to 40% of any recovery, remedy, whether by way of settlement, claim approval, judgment or otherwise. Attorney's fees provided for herein in the percentage of 50%, will be shared with the referring attorney. The Client understand and consents to this fee sharing and that this arrangement between the attorneys will not be the cause of any increase in fees to the client.
I have a question , my attornet settled a law suit for only $30,000. going into the case it shouls of been $300,000 to $400,000 Now he wants to give me $6000 and keep the rest for him self for fees what do I do?