Contingency Fees: You Still Have Options After An Accident
If you've been blindsided by a car accident that left you injured and unable to work, getting your life moving again can seem impossible. You might be able to get help if you seek a settlement from the driver who hurt you, but to do that you'll need a lawyer's help. If you're worried about the cost of hiring an attorney when you're already stressed out from medical bills and lost wages, consider this: for most accident cases, you pay nothing if a settlement isn't reached, and the amount you pay is based on when that happens.
What Will An Attorney's Services Cost You?
The first step to any accident case is to send the person at fault a demand letter. Demand letters are legal documents written by attorneys, and, as their name suggests, they outline the restitution you'll be seeking. Depending on the strength of your case, you may be able to settle right away as soon as the other party receives your letter.
If you don't intend to pursue a lawsuit but still wish to send a demand letter, you can hire a lawyer, like those at Law Office of John Lozano, to draft and mail the letter for you. This service can cost anywhere from $300 to $1000. If do intend to take the case to court, this cost is included in the contingency fee, which is determined by how far along the case is.
Before Filing A Suit: At this early stage, your lawyer may be able to avoid having to do the additional legal legwork associated with a formal suit filing, so you can expect to pay a slightly lower fee than if your case settles at a later stage. If you hired your lawyer with the intention of pursuing a suit if necessary, a settlement at this point will mean you pay a contingency fee of around 25-40%. Typically, settlements at this stage result in a 33.33% fee, so the lawyer will get one third of your cash settlement.
After Filing A Suit Or Winning The Case: By the time a suit is filed, you've likely already put your lawyer to work at multiple settlement talks. Getting to this stage of the proceedings is a much more daunting task due to the time and effort involved in getting a case court-ready, so you can expect your attorney's contingency fee percentage to increase slightly. You should expect to pay more than one third of your settlement, and typically closer to 40%, if the case settles after filing a suit or you win in court.
How Are Additional Costs Handled?
Accident lawyers understand that you may not have the cash on hand to pay for the many fees associated with proving your case. Filing costs, private investigator salaries, and medical depositions can all add up to thousands depending on your state, which would make it impossible for many victims to sue if they had to pay upfront. For this reason, accident attorneys typically cover other fees on a contingency basis, meaning they are reimbursed for the costs after your case settles or is won.
An important distinction to make is that the court fees will come from your portion of the settlement, not your lawyer's fees. You should always keep case-related costs in mind when negotiating the settlement amount with the other party, since you don't want to settle for less than will meet your needs.
Don't let an accident ruin your life. If you seek a settlement with the help of a skilled accident attorney, you may be able to get the compensation you need to get your life back to normal. In almost all cases, it won't cost you anything to consult a professional, and you stand to gain everything if you do.