If you’ve been injured in an accident, you may be wondering if you really need a personal injury attorney. Maybe you think your injuries aren’t that bad or you’re worried that you can’t afford an attorney.
The cost of an attorney is one of the main reasons people don’t want to hire one to represent them. Attorneys can be expensive. Why pay all that money when you can handle it yourself? Where does the money they take even go?
Here are some answers to common questions about legal fees.
How Much Do Attorneys Take from the Settlement or Verdict?
The cost to hire an attorney depends on the law firm. Though most personal injury firms work on a contingency fee basis, each firm adopts their own percentage rate. As with anything, you may find a personal injury firm that charges more than others, but this doesn’t necessarily mean they are greedy.
Personal injury firms that have a higher percentage rate may offer you more extensive services than others and, therefore, are more expensive. For example, Daniel Stark may not be the cheapest option, but we’ve kept the same rate for over 20 years.
Daniel Stark provides clients with a team of legal experts to get you full value for your injury. We employ investigators to gather evidence on client cases, offer clients the opportunity to speak with Life Impact Analyst, Dawson Skow, and provide a network of trusted medical providers to get you quality medical attention in a timely manner.
When researching personal injury attorneys to represent you after an injury, consider what is most important to you. If getting your life back on track is your top priority, don’t let the cost of an attorney intimidate you. Studies show that a qualified personal injury attorney can get you a higher settlement offer than clients without legal representation.
What is a Contingency Fee?
A contingency fee is an agreement between a client and an attorney that the client doesn’t owe any money unless the attorney wins the case. With a contingency fee agreement, you’ll be able to have legal representation with no initial cost. This option is particularly beneficial for clients who don’t have the funds to pay for court costs in advance. It’s a gamble for the firm since they could lose a lot of money if they don’t win, but it can assure you of their commitment to getting you full value for your injury.
If the attorney helps you win your case, the money spent throughout the process of your claim will be taken from your winnings. This is usually a rate between 30-40%. However, the percentage varies depending on whether you’re able to settle before filing a lawsuit or if your attorney presents your case to a jury during trial.
This percentage may seem high, but consider this scenario: You’re injured in a car accident. Your brain scans show minimal damage, so the insurance company presents you with an initial offer of $20,000. You hire an attorney, and they push for further medical examination. Your attorney brings in an expert medical opinion to explain the extent of your injuries. You’re then awarded $850,000. The firm will receive 40% of your settlement for expenses and you will walk away with $510,000 – almost 26 times your initial offer.
What Are the Court Costs?
When you pursue a personal injury claim, there are certain costs involved that you would have to pay even if you decided to handle the case on your own. These include:
- Records Fees which are the costs it takes to collect police reports, investigative reports, and medical records.
- General Court Fees that arise from any court case including filing fees, serving fees, court reporter fees, and copying costs.
- Expert Witness Fees which are some of the most expensive, yet necessary costs that will arise. These are to pay for invaluable testimonies provided by doctors and psychologists.
If you do choose to hire an attorney, there are certain expenses the firm will have to pay to represent you. Your legal team will spend time carefully reviewing your case, consulting with your doctors, and negotiating with insurance. Many attorneys will travel on your behalf to collect evidence or meet with witnesses to collect statements. There are also administrative costs for things like printer ink and paper and binders for evidence.
Certain fees will apply whether you settle your case or go to court. However, the more complicated your case, the higher the costs to build and defend it. Without a personal injury attorney, it’s possible your settlement amount won’t be enough to cover court expenses and the costs of your medical treatment. Even worse, if you handle your case on your own and lose, you’ll be responsible for paying these expenses on your own, as well.
Hiring a qualified personal injury attorney will provide you with a higher chance of winning your case and receiving a larger settlement. Plus, if you lose with the help of an attorney, you owe nothing in court costs. You’ve got nothing to lose.
