People turn to personal injury lawyers to help them get the most compensation after they’ve been in a truck accident, but is it worth the costs? Actually, you’ll get much more money working with a truck accident lawyer than you would on your own.
You do have to pay your lawyer, though, so how much do lawyers charge for truck accidents and other personal injury claims? Getting to this answer requires knowing how different lawyers charge fees for different services.
Contingency Fees Explained
Both hourly and retainer lawyers expect a payment directly from their clients. Contingency lawyers are paid differently. They get paid when you win money from a claim. These lawyers take their fee out of the winnings, so their pay is contingent on you winning your truck accident case.
With a contingency fee system, You won’t owe your lawyer anything if you win nothing from your case. They did not get you a favorable outcome, and you are not required to pay. If you win, your lawyer will get the settlement or judgment award first, take out their fee, and then send the rest to you.
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SPEAK TO AN ATTORNEY TODAYThe Advantages of Contingency Fees
Anyone can be the victim of a truck accident, but not everyone can afford a lawyer’s hourly rates or pay a big retainer fee upfront. The best way to make it just for anyone to get legal representation after they’ve been in an accident is the contingency fee system.
All the money your lawyer would get comes out of the final settlement or judgment, not from what’s in your bank account. This pushes personal injury lawyers to fight hard on behalf of their clients and to get them as much as possible. The more you win, the more they get paid.
The worst that can happen with a contingency fee lawyer after you hire one is that you lose your case and get nothing. You may be stuck with the costs of your injury, but you won’t get stuck with lawyer fees on top of losing your case.
How Much Are Contingency Fees?
Lawyers usually set the price of a contingency fee as a percentage of the final amount. The percentage varies from lawyer to lawyer and on the complexity of your case. Your rate may go up or down depending on how your case goes. For example, there is usually a raise in the rate if your case must go to trial.
The ethics laws set by state bar organizations require lawyers to only charge “reasonable” fees. Ranges for contingency fees can be as low as 25% and as high as 50%. The most common percentage is somewhere in the 30s.
Remember that any lawyer worth your time will likely get you more compensation than you would by approaching the insurer on their own, even after they take their fee. There are some things you can ask during your consultation to confirm whether your lawyer is charging a reasonable fee.
The Costs of a Case
Sometimes people think a lawyer’s fees are pure profit, but there are a lot of costs behind the scenes to bring a case to completion. The costs of investigations, hiring expert witnesses, legal documentation, filing fees, and more are all part of getting an outstanding result for clients, and some are necessary to get one at all.
When a lawyer takes on a case on contingency, they assume a risk. They might have to pay all those out-of-pocket costs and end up with nothing.
If you don’t understand why a lawyer may charge so much for a contingency fee, ask them about these extra costs. A good lawyer can break down how much of their fee is profit and how much is the cost of doing business.
Questions to Ask a Lawyer During a Consultation
A consultation isn’t just a chance to share your story and see if you have a case. It’s a job interview. If a lawyer feels you have a case, they need to persuade you they’re the lawyer for you. We encourage all our potential clients to ask questions, so they feel we’re the lawyer for them. Ask questions like:
- What’s your experience with similar cases to mine? Did you win? How much?
- How many cases similar to mine have you had in the past year?
- What will be your approach to my case? Do you expect we’ll need to go to trial to get full compensation?
- Can you give me an estimate of how long my case might take? (Note that it’s impossible to give an exact date because of many factors)
- What are your expectations from me as your client? What will you require me to do? (e.g., getting certain documents)
- What is your fee structure? How much do you charge? What circumstances change that charge?
- Given what you know, what do you feel the odds are for a favorable outcome?
- If I have questions for you, how soon will I hear from you? How do you prefer to communicate?
Also, use your gut and look around the office. Do you feel comfortable? Is your potential lawyer patient with you? Do you feel you’re being heard? If you get good answers to these questions, you can feel confident about your lawyer.
Remember, you may have to pay them quite a lot if you win your truck accident claim, so make sure they’re worth your time first.
