Some victims of accidents may go for an instant out-of-court settlement because of fears of having to spend a lot of money when hiring an accident attorney. They may even opt to represent themselves in court. Knowing how much and how to pay accident lawyers may change the common perception that legal services are disadvantageous to some extent because of their high costs.
Good accident lawyers in brooklyn cannot be discounted during accident cases just because of the cost. You can expect a far more favorable result on your case when you hire exceptional accident attorneys to handle your legal battle. You may even claim more money than what you expect.
An out-of-court settlement may only give you the amount of losses you incurred. When you represent yourself in court, you may not be able to indulge insurance companies in paying what is rightfully due to you. With the best accident lawyers, increasing your recoverable amount has been their cup of tea since they started their legal profession.
So it is better to consult a lawyer when you have been a victim of a slip or fall, car accident, medical malpractice, or you have been injured during construction of a building. You can avail of a free consultation which some lawyers give to all of their potential clients.
During such a consultation, you can ask how much you are going to pay. Ask for the breakdown of fees so you will comprehend better. Usually, the breakdown of fees can come in the following manner.
Contingency Fee Percentage
The contingency fee percentage is the amount that will go to your attorney after you recover payment for the losses and damages. Accident lawyers employ different contingency percentages. Contingency percentages range from 25% to 40% with the median at 33%. So if after you won your case and you were able to recover $100,000, a lawyer with a contingency percentage of 25% will have $25,000 while an attorney with 40% contingency percentage will get $40,000. It is undoubtedly advantageous on your part to ask about the contingency percentage of a lawyer before signing in the contract.
Contingency percentages are only paid after the recoverable amount is handed to you.
Upfront Court Fees and Litigation Expenses
Upon filing your case, you pay a filing fee. Ask about service fee and other charges that you may encounter later on during the case like mediation fee, witness fee, and appeal fee. Litigation expenses also include travel costs, photocopies, x-rays, and other costs incurred to get evidence. When not stipulated on the contract with your lawyer, you have to pay for these fees yourself. But in the contract says that it will be deducted from the recoverable amount then your attorney will be spending all these fees for the meantime.
Flat Fees
Flat fees are dues to be paid to an accident lawyer when their legal task is limited to issuance or responding to demand letters. This fee is particular to less complex legal cases.
Retainer Fees
A retainer fee is an advance payment of the legal services an accident lawyer will do. Some accident lawyers may let you pay a retainer fee which should be deducted from the recoverable amount you are entitled to after winning the case. There are lawyers though that do not require a retainer fee.
If you do not have problems with finances, then you may not mind paying for a higher contingency fee. You can pay upfront court and litigation cost, and you can pay more retainer fees if you wish. They will be deducted to the recoverable amount anyway. But if you have a limited budget, then you should look for a lawyer with less contingency percentage and pay for litigation expenses for the meantime and does not require a retainer fee.