Introduction
Personal injury lawyers, including those at Dolan Law Firm, typically charge a “contingency fee” rather than an hourly or flat rate. Therefore, your injury attorney should explain the fees you will be charged in your initial consultation. This is important information when deciding whether to hire a lawyer and how much it will cost to take your case through trial and appeal if necessary. The following article explains what percentage most personal injury attorneys take for their services:
Contingent and Non‐Contingent Fee Agreements
Contingent fee agreements are common in personal injury cases. In this type of agreement, the lawyer gets paid based on a percentage of the settlement amount. The percentage is on top of expenses and other costs incurred during your case. As such, it is important to understand how contingent fees work so you can calculate your potential costs.
In most cases, lawyers charge a contingency fee based on a percentage of the settlement or verdict they obtain for you (usually 25%). So if your claim results in a $100,000 settlement after trial, then your attorney will receive $25,000 ($100k x 25% = $25k).
No fee unless you win
This is called a contingency fee, meaning that if you lose, you pay nothing. However, if you win, you pay your lawyer a percentage of the settlement and any costs associated with the case (such as expert witness fees). Some lawyers will also ask for money upfront or require payment upon settling with an insurance company.
Suppose your case settles before the court, and your lawyer gets paid. In that case, no refunds are available if you change your mind after learning more about how much—or how little—you might have gotten back from paying out-of-pocket expenses along the way (like medical bills). On the other hand, if you change attorneys after winning a judgement but before settling — or settle without having won — then most courts will not force restitution payments back into their pockets; instead, they’ll let litigants recoup their expenses as necessary during post-judgment proceedings when deciding on how much should be awarded from each party’s pocketbooks: yours versus theirs’!
Hourly attorney fees
Hourly attorney fees are the most common payment arrangement for personal injurylawyers. If you choose this option, your lawyer will charge you by the hour and bill you at the end of each month.
When deciding on an hourly attorney fee, it’s important to consider all factors. For example, if your case is simple, your lawyer might be able to get it done quickly—and that’ll mean lower hourly rates overall. On the other hand, if there are many issues involved with your case and it takes longer than expected to resolve them all—such as when there are multiple defendants or multiple plaintiffs (in civil suits involving two parties)—then expect higher hourly rates since more work went into resolving them all.
What is the contingency fee?
A contingency fee is a legal structure in which the lawyer agrees to take a percentage of the amount recovered by the client.
A contingency fee is different from an hourly fee because it does not require the lawyer to spend time on your case if there is no recovery.
Generally, contingency fees are paid only after you recover compensation for injuries and other damages. The percentage amount varies depending on jurisdiction and state law, but it will usually be between 25% and 40%.
Suppose you hire a personal injury attorney who will work on a contingency basis. In that case, they will ask you how much money they can take as their portion of any settlement or judgement against another party (for example, a car accident).
The Difference Between a Contingency Fee and an Hourly Fee
It is important to differentiate between a percentage fee and an hourly fee. A contingency fee arrangement, the lawyer’s compensation comes from receiving a percentage of the award for their client. In other words, if you are awarded damages in your case and your lawyer has secured. That settlement on your behalf, they will receive 25% (or some other predetermined amount) of those funds.
In contrast, under an hourly billing arrangement, the attorney bills. Their time at a flat hourly rate (sometimes even includes travel fees in that calculation). The party who hires them—typically it would be you—pays these fees out-of-pocket without. Having any chance of recovering them later on if you win or settle with the defendant.
Personal injury lawyers, including those at Dolan Law Firm, typically charge a “contingency fee” rather than an hourly or flat rate.
In personal injury cases, most lawyers charge a contingency fee. You only pay the lawyer if they can recover money for you in your case. The recovery rate varies depending on the case and the state but is usually between 25% and 40%. When you hire an attorney at Dolan Law Firm, we will let you know our normal contingency fees, so there’s no surprise when it comes time to discuss payment options.
In contrast with hourly rates, where you pay for every hour. Spent on your case (even if your lawyer isn’t earning any money at all). Contingency fees give clients peace of mind knowing exactly. How much their case will cost them in terms of both time and money before hiring an attorney.
Conclusion
That being said, most personal injury lawyers will take a contingency fee. This means that they only get paid if you win your case. If you don’t win, the lawyer doesn’t get paid anything. There are some exceptions to this rule, though, such as in medical malpractice. Where it might be better for a client’s well-being to settle out of court rather. Than pursue litigation through trial (which could be long and costly).
That being said, most personal injurylawyers will take a contingency fee. This means that they only get paid if you win your case. If you don’t win, the lawyer doesn’t get paid anything. There are some exceptions to this rule, though, such as in medical malpractice. Where it might be better for a client’s well-being to settle. Out of court rather than pursue litigation through trial (which could be long and costly). In an informal tone
