After being injured in an accident caused by someone else’s negligence, seeking legal representation can be necessary to receive fair compensation for damages. However, you may hesitate to hire a personal injury lawyer when you are concerned about the cost.
Your best interests, though, are at the heart of our law firm. Our Bellevue personal injury attorneys understand the financial challenges that accident victims face. For this reason, we offer our legal services on a contingency basis so accident victims can afford them.
Many personal injury law firms charge for their services on contingency, although the arrangement may vary from firm to firm. This article will discuss the costs and fees associated with hiring a personal injury lawyer to represent you after an accident.
The Contingency Fee Arrangement
Many personal injury lawyers work on “contingency,” which means that their clients do not pay by the hour. Contingency fees compensate personal injury lawyers based on the results they produce rather than just the time they put into the case.
If your personal injury lawyer works on a contingency fee basis, he or she will get paid only if a settlement or verdict is secured in your favor. If the case is lost, then you do not owe the attorney any fees. The contingency fee arrangement makes it affordable for injured accident victims to obtain experienced legal help.
In the sphere of personal injury law, your chances of achieving a settlement are high, according to the statistics. It has been estimated that about 95 percent of civil cases are resolved with a settlement.
What Contingency Fee Percentage Do Bellevue, Nebraska, Personal Injury Lawyers Charge?
You should discuss the percentage of the contingency fee with your personal injury attorney before officially engaging his or her legal services. According to the American Bar Association (ABA), the typical contingency fee is between 33 and 40 percent of the amount recovered.
One factor that may influence the percentage of the contingency fee is the complexity of the case. For example, a lawyer may charge a higher fee for more complicated cases involving multiple parties. A contingency fee percentage may also be higher for cases that involve going to court rather than being settled through negotiations with the insurance company.
The part of the country you live in can also have an impact on the contingency fee percentage charged. Personal injury law firms may charge a higher percentage based on the average rates in your area. For example, personal injury lawyers in Bellevue, Nebraska, may charge a lower percentage than lawyers in Los Angeles or New York City.
Another factor that could affect a contingency fee is the reputation of the lawyer you hire. A personal injury lawyer with extensive experience and a well-known reputation for winning cases may charge a higher percentage rate.
How the Contingency Fee Arrangement Benefits Clients
Contingency fees have several advantages for clients:
- No financial burden: One of the major advantages of the contingency fee arrangement is that you can hire a personal injury lawyer without the financial burden of paying upfront. This gives everyone, regardless of their financial situation, access to legal assistance.
- Honest case evaluation: Since they only get paid if their clients win a settlement or verdict, personal injury attorneys working on contingency only take on cases they feel they have a good chance of winning. If a lawyer takes on your personal injury case, it means he or she feels your case will return a fee that will justify the time and effort the case requires.
- Motivated to maximize compensation: Personal injury lawyers working on contingency have a financial incentive to maximize compensation for you. The greater the amount of compensation recovered for you, the more money they make. This is a win-win situation since both your and your lawyer’s interests align in a contingency fee case.
- Retain most of your compensation: With most contingency fees being between 30 and 35 percent, even at the higher end of the range, your legal fees will be far less than half of your settlement. This may still seem like a lot, however, if you hire a lawyer who charges an hourly fee, you could end up paying your entire settlement or award to your lawyer – leaving you with nothing.
- No fee if you lose: If your personal injury case is unsuccessful and no compensation is awarded, you do not owe any lawyer’s fees. This mitigates your risk of accumulating a mountain of legal fees without obtaining a favorable outcome. If your personal injury lawyer recovers $0 for you, the lawyer earns $0.
Costs Covered by the Contingency Fee
Your contingency fee will cover all of the work that your personal injury lawyer does to settle or litigate your case, which includes tasks such as:
- Gathering evidence
- Identifying all liable parties
- Obtaining copies of police reports
- Interviewing witnesses
- Calculating damages
- Preparing and filing your insurance claim
- Communicating with all parties involved
- Negotiating with the insurance companies
- Drafting and filing a lawsuit if negotiations fail
Additional Costs of Hiring a Bellevue Personal Injury Lawyer
There are certain fees associated with personal injury cases that a contingency fee may not cover. During your initial consultation, be sure to ask the personal injury attorney about these fees before retaining his or her legal services. This will help you to make informed decisions and avoid financial surprises down the road.
Examples of personal injury case expenses include:
- Court filing fees
- Court reporter fees
- Deposition fees
- Administrative costs
- Expert witness fees
- Medical record retrieval
- Travel expenses
Understanding the potential additional costs associated with hiring a lawyer can ensure you have realistic expectations regarding your total legal expenses.
When your case has been settled, your personal injury lawyer should give you a statement listing all expenses incurred on your behalf. Your lawyer receives reimbursement for these expenses from your personal injury compensation.
Contact Our Law Firm Today to Schedule a Free Consultation
As you consult with personal injury law firms, ask for a copy of their fee agreements. Before you sign the agreement to hire them, be sure to review it carefully. Do not hesitate to ask any questions that you have about the contract.
At Hauptman, O’Brien, Wolf, & Lathrop, we accept personal injury cases on contingency. We are open and honest with our clients about the fee percentage that we charge if we win your case. Our lawyers are transparent with our clients about any additional fees that may be associated with your case.
If you have questions about the cost of hiring a Bellevue personal injury lawyer, contact our law firm today. Contact us at 402-241-8214 or complete the contact form to schedule a free case consultation.
