One of the first questions that many personal injury victims ask their attorneys is, “How much will you charge for your services?” Personal injury attorneys work on a contingency fee basis, which means they will not charge you the same way that other types of attorneys would. Before seeking legal representation, it’s important for you to understand how contingency fees work in personal injury cases.
Attorneys who work on a contingency fee basis are only paid for their services if they are able to recover compensation on behalf of their client. In the event that the attorney is able to recover compensation for his client, he will be entitled to a percentage of the amount recovered. The percentage that your personal injury attorney takes will vary slightly, but it is typically between 33-40%. For instance, let’s say you agree to give your personal injury attorney 33% of whatever compensation he recovers on your behalf. If your personal injury attorney helps you win $100,000 in a settlement, he will be take $33,000.
Who will have to pay the attorney if he is unable to recover compensation? No one. In a contingency fee arrangement, the attorney is not paid for his legal services if he is unable to win compensation for his client.
Personal injury attorneys often pay for medical records, police reports, expert witnesses, and filing fees upfront. If your personal injury attorney agrees to cover these costs, it’s important to understand that you will need to reimburse him if you recover compensation.
Take another look at the example mentioned above. Let’s say your attorney ended up paying a total of $5,000 for expert witnesses, police reports, and medical records to support your case. This means the attorney would be awarded 33% of the settlement, which is $33,000, plus an additional $5,000 from your portion of the settlement to reimburse him for the expenses.
Personal injury attorneys choose to work on a contingency fee basis so their services are available to all victims, not just those who can afford an attorney. This ensures that all personal injury victims, regardless of their financial standing, can seek justice against the negligent parties that have caused them harm.
If you have been injured because of the negligent acts of another person, seek legal representation from the personal injury attorneys at Reisch Law Firm right away. We will stop at nothing to help our clients recover the compensation that they deserve for their injuries. Schedule a free consultation today by calling 303-291-0555 or filling out this online form.