How Do Contingency Fees Work in Personal Injury Cases? | Personal Injury Lawyer Near Me
Concerns over the “affordability” of a lawyer often deter many people who need legal help.
The affordability of legal assistance is an especially important issue for those who have sustained physical injuries, as they may have to take unpaid time off work (and are burdened by medical expenses, too).
Fortunately, this concern isn’t a real one. Most personal injury attorneys work on a contingency fee basis (unlike other attorneys). As such, they don’t cost any money out-of-pocket. They only get paid when you get paid.
Simply put, most personal injury attorneys are “free” until you get paid, at which point you give them a percentage cut of your compensation (anywhere from 25 to 35 percent, usually). This makes legal assistance extremely accessible to everyone, regardless of income.
And what happens in the event that your attorney isn’t able to successfully secure compensation for your injuries? Good news. You don’t owe them anything. Not a dime.
When Do You NOT Need an Attorney After an Accident?
You ALWAYS need an attorney. No, seriously. You should ALWAYS speak to an attorney after an accident, even if just to have your case evaluated to determine whether you have an actionable legal claim.
If you don’t, you’re leaving money on the table. And the thing is: it doesn’t cost anything to speak to an attorney and have your case evaluated. So why would you NOT have a brief discussion and see where it leads?
It’s better to have an experienced attorney review the details of your accident and potential injuries to determine if you have a valid claim than to move forward without a legal opinion, thus leaving money on the table (that you deserve to receive in compensation for your damages).
Most personal injury attorneys don’t charge an initial lawyer consultation fee, so it costs you nothing to find out if you have a claim for compensation.
Even if you don’t think you have the money to pay an attorney upfront, with 1-800-the-law2, you don’t pay unless our attorneys secure compensation on your behalf. Contingency fees ensure that you can pursue your claim without any initial costs whatsoever.
What is an Attorney Retainer?
Typically, attorneys who will be doing ongoing work or an undetermined amount of work for their client will ask for a retainer agreement, and will charge both a baseline “retainer” fee as well as hourly fees. This type of arrangement is common with business and family law attorneys. However, most personal injury attorneys don’t charge retainer fees or hourly fees. Instead, most personal injury attorneys work on contingency.
Contingency Fees 101
Contingency fees require no upfront or out-of-pocket payment. Instead, you sign an agreement that the lawyer will represent you through the resolution of your claim. In return, you agree to pay them a certain percentage of the compensation you receive when you receive it. Usually, this is between 25 to 40 percent, but it can vary depending on many different factors.
If the lawyer doesn’t obtain compensation on your behalf, then you don’t pay anything.
This is quite different from having a lawyer on retainer, where you agree to pay them no matter the outcome. With contingency fees, the risk is 100 percent on the attorney. You don’t take on any of the risk burden.
How Important is a Good Lawyer?
Hiring a skilled lawyer to represent your injury claim is imperative. After all, a skilled attorney is more capable of securing a financial recovery on your behalf. Ready to call a car accident lawyer? Here are 4 things to look for.
What Sort of Qualities Define “The Best Car Accident Lawyer” for a Personal Injury?
You want a lawyer who is highly experienced in personal injury law, particularly in representing clients who have injuries similar to yours or whose injuries were caused by a similar situation, such as a car accident or a slip and fall. You also want an attorney who:
- Works on contingency fees
- Has a positive reputation
- Enjoys good online reviews
- Is in good standing with your state bar
- Demonstrates compassion and understanding
- Is a skilled negotiator
- Stands up to big insurance companies
- Is willing to take your case to trial if it becomes necessary
- Has the time and resources to manage your case now
- Will return your calls promptly
Do You Need to Retain an Attorney for Your Personal Injury?
Remember that even if you don’t think you have a claim or believe your injuries are minor, it’s always in your best interest to speak with a personal injury attorney to clarify your legal rights and options. You could be owed compensation for your injuries and damages. If you don’t have a qualified attorney review your case, you may never know.
Call us at 1-800-THE-LAW2, or complete the form on this page, to get connected to one of our skilled attorneys in just 10 minutes or less. Thanks to contingency fees, you won’t have to pay anything out of pocket to get started.