Sometimes when people are injured and may be considering matters about seeking for compensation, they are often worried about how they are going to afford the fees for a personal injury lawyer. Question such as how much money the attorney is going to demand in fees cloud the mind and of course how you will raise such moneys. The good thing to know is that in most cases, personal injury lawyers will handle a case on basis of contingency fees. A contingency fee agreement is such that the personal injury attorney will represent you in court and do all the work while investing all costs and expenses; finally they will deduct a percentage of the proceeds to get their fees. |
The percentage of money that is involved in contingency fees in most cases is between 33% and 40%. In such an arrangement, when you have been injured, you will seek the services of a highly experienced personal injury lawyer without paying a single coin in terms of legal fees until the settlement has been reached. The arrangement here is such that is the lawyer doesn’t win any settlement for you; there will be no payment from you whatsoever. If for instance you receive a settlement of $90,000, the sum you will receive will be some $60,000 and the lawyer keeps the remaining $30,000 in a case where your agreement was a contingency fee of 33.33%.
In a situation where there are likely to be any extra expenses regarding your case, you will always get consulted because eventually all these cost will be deducted from your compensation. Some of the common expenses that could arise in a personal injury case will include police reports, medical records, filing fees, postage, investigators, expert witness fees, depositions as well as trial exhibits. In most cases the lawyers will cover all these expenses and eventually have them deducted from your share of compensation; however, there are those who bill you for the same as soon as they become due. Have it in mind that it is your responsibility to pay for all the expenses that become due to keep your case active.
Before a personal injury lawsuit is filed, the attorney will first of all file a demand letter to the wrongdoer on your behalf explaining your injuries and demand for payment. When the wrongdoer realizes that you have a strong case, the wrongdoer will send a counter through their attorney with a counter offer and that prompts a negotiation. It is possible to reach a settlement without having to go through the court process. However, should the wrongdoer not agree on a settlement, your personal injury attorney will go ahead and file a suit; normally the longer the case takes before settlement the greater the expenses it is likely to accrue.
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