Costs of Hiring a Personal Injury Attorney| 05.13.14
Typically, in a personal injury case, a lawyer will charge a contingency fee. In this type of arrangement, the lawyer’s fees will be deducted from your final settlement or verdict, if your case goes to trial. Any fees or expenses that the lawyer incurred will generally be deducted from your settlement as well.
Some states have statutes limiting the percentage a lawyer can collect as a contingency fee. You could always try to negotiate an alternative or reduced agreement, however, most commonly this percentage is 33%, but could be as high as 40%. So, for instance, if your settlement was $30,000, your lawyer would receive $10,000.
In an attempt to reach a settlement, your lawyer will send a letter to the wrongdoer that injured you, explaining the injuries and demanding payment. Provided you have a good case, the wrongdoer will counteroffer and negotiations will begin. All of this takes place before you file a formal complaint in court. Because most states have shifting fee limits, if you reach a settlement at this stage, most likely your lawyer will not be able to collect more than 33% of the settlement.
If however, the wrongdoer fails to answer your demand letter, and you have a strong case, you will file a lawsuit. Your lawyer will be able to receive a larger percentage of the settlement, typically 40%, if your settlement occurs after the lawsuit is filed. Before choosing to reject any pre-suit settlement, one should bear in mind that a personal injury case will only get more expensive as it progresses.
Personal Injury Lawsuit Expenses
Some lawyers will cover expenses and deduct them from your settlement. Others will expect payment up front from you in order to proceed with the case. Expenses can add up quickly, especially the longer it takes to reach a settlement, and added to the contingency percentage, could total 45-60% of your recovery. Some expenses include, obtaining medical records and police reports, postage and filing fees, and trial exhibits.
Once the parties have agreed on a settlement, typically the check will be sent to the lawyer. Your lawyer will then contact you and deduct his/her fees.
Contact Boulder Car Accident Attorneys
If you have been seriously injured through the negligence of another, you may be entitled to compensation. An experienced personal injury attorney can help you maximize your recovery and ensure you get fair compensation.
If you or someone you love is injured in an accident in Boulder, Broomfield, Longmont, Westminster, or anywhere in the State of Colorado, you need an experienced Boulder car accident lawyer on your side. The injury attorneys at Goff & Goff are available 24/7 to review your case. Call us today at 303-415-9688 for a free initial consultation.