You Don’t Pay Unless We Win!
After being injured in an accident that wasn’t your fault, whether it was a car accident or while in surgery, you deserve to be compensated for the damages that have been done to you. After dealing with medical bills, lost wages from missing work, and other financial stresses, figuring out how you will pay for these costs can be overwhelming.
Luckily, if you have a personal injury case, you can work with an attorney who will fight for the justice and compensation you are owed. Additionally, personal injury lawyers work on a contingency fee basis.
What is a Contingency Fee?
A contingency fee is a payment structure that allows individuals to pursue a personal injury claim without paying any upfront legal fees. In a law firm with a contingency fee arrangement, clients only pay for legal services if their attorney successfully recovers compensation on their behalf.
Contingency fees allow individuals to secure experienced legal representation to strengthen their case without worrying about the financial burden if the claim is unsuccessful.
Benefits of Contingency Fees
What’s nice about working with a law firm with contingency fees is there is a higher chance of you receiving more compensation. Having an experienced lawyer on your side increases the likelihood of receiving a settlement check that covers all of your financial needs and more.
Some key benefits of contingency fees in personal injury law include:
- No Upfront Costs: You won’t have to pay any flat legal fees initially or are charged an hourly rate, making it easier to access legal services without financial strain.
- Reduced Financial Risk: If your attorney doesn’t win or settle the case, you owe nothing, minimizing your financial risk.
- Incentive for Success: Your attorney will be motivated to maximize the settlement since their payment depends on a successful outcome.
- Access to Quality Representation: You can afford experienced attorneys who might otherwise be out of reach financially.
- Encourages Case Transparency: Your lawyer will keep you well-informed throughout the process since both parties share a vested interest in a positive result.
- Focus on Fair Compensation: The fee agreement helps you seek the full compensation you deserve, as your lawyer aims to increase the settlement for your needs.
Average Contingency Fee Percentage for Personal Injury Lawyers
Typically, the standard contingency fee for lawyers is 40% of the settlement or award received. This approach can be especially beneficial for personal injury victims who may be facing medical bills and lost income due to their injury, as it enables them to seek justice without financial risk.
While 40% of your settlement may seem like a lot when you work with a personal injury attorney, you have the chance to receive a significantly higher settlement than what an insurance company may initially offer you. That means the chance of still having a surplus of money after your attorney has deducted their fee has increased.
What Are Common Expenses in a Personal Injury Case?
There are many costs that can arise throughout the course of your personal injury case. Your lawyer will keep track of these costs and keep them in mind when negotiating your final settlement cost.
Here are some common costs that can appear and are taken into consideration when your lawyer fights for your deserved compensation:
- Court Filing Fees: Costs for filing lawsuits, motions, and other legal documents with the court.
- Medical Record Fees: Charges for obtaining medical records and bills, which serve as evidence of the injury and associated costs.
- Expert Witness Fees: Payments for expert witnesses, such as medical specialists or accident reconstruction experts, who provide testimony to strengthen the case.
- Deposition Costs: Expenses for taking depositions (sworn out-of-court testimonies), including transcription fees and costs for court reporters.
- Investigation Fees: Costs related to investigating the accident, including obtaining police reports, accident scene photos, and witness statements.
- Postage and Administrative Fees: Expenses for mailing, copying, and other administrative needs related to case documentation.
Read about Understanding Medical Leins in Personal Injury Cases.
About DM Injury Law
Our personal injury attorneys at DM Injury Law always seek the highest possible compensation for our clients. Throughout our various office locations, we’ve successfully negotiated numerous cases where our client was initially offered $0 from the insurance company and ended up with a 6-figure settlement. Take a look at our track record of successful case results.
If you or a loved one has been injured in an accident, tell us your story over a free consultation. Always remember, YOU DON’T PAY UNLESS WE WIN!