If you have sustained a personal injury, the wise thing to do is seek counsel from a qualified personal injury law firm. However, many individuals are often discouraged about the initial cost of hiring a personal injury lawyer for a potential case. Personal injuries are a serious matter, and it should give you a degree of comfort to know that you may be able to hire a personal injury lawyer despite strict budgetary constraints.
If you are asking yourself how much do you have to pay for legal representation for your personal injury case, keep reading. As you will soon find out, the answer is much simpler than what you previously thought.
“No Win, No Fee”
From a first glance, lawyers are perceived to be wealthy individuals. Although this isn’t an incorrect assumption, there is a likely possibility that you can receive prestigious legal representation if you have been wrongly injured. Personal injury lawyers usually bill clients on a contingency fee basis. Generally speaking, these lawyers work on a “no win, no fee” basis.
As a result, this allows prospective clients to work with a personal injury lawyer even if they don’t necessarily have a sizable budget. Most contingency fees are between 33 to 44 percent, but there is always room to negotiate a reasonable rate with your lawyer. For example, if your lawyer requests a 30 percent contingency fee and you win $30,000 from your insurance company, you will receive $21,000, and your lawyer will receive $9,000.
That being said, your lawyer will usually have to win your case before they are compensated, so you’ll get the opportunity to work with a lawyer of your choice without stretching your pockets thin.
This Fee Has Benefits
Personal injuries often times have disastrous effects. From suffering a debilitating injury to paying exorbitant medical bills, many individuals can’t afford a lawyer in their current situation. Therefore, it’s an added benefit to be capable of affording a quality personal injury lawyer by paying a fraction of your settlement.
In addition, the “no win, no fee” basis ensures that your attorney will devote all of their time and resources to your case. After all, if they aren’t engaged in your case, they won’t be compensated. Hence, the contingency fee basis makes sure that your case will be taken seriously, so no one’s time is wasted.
Personal Injury Lawyers Are Here To Help At All Costs
Although you won’t be required to pay for your attorney’s fees upfront, there is still a possibility that your lawyer will charge you for associated costs once your settlement is received. This could result in a higher payout to your attorney that even exceeds the 33 to 44 percent limit permitted by most states.
When you are severely injured, it’s truly not a matter of how much a personal injury will cost. However, you should consult with your attorney to obtain clarity on how you will compensate for their services, whether if it involves a settlement or pre-trial payment.