As you look at the personal injury lawsuit you want to file against someone who caused you an injury, you might start to wonder if it’s worth hiring a lawyer. How much will it cost you? Are there any factors that could make the fee more or less? The following, along with a nice conversation with a lawyer, can help you understand what might play a role in determining how much it’ll cost to hire a lawyer.
Contingency Fees
Personal injury attorneys understand you probably don’t have a lot of money sitting around from which to pull a lawyer fee. This is why contingency fees were created. A contingency fee agreement ensures the lawyer gets paid, but it comes out of the settlement award after all is said and done. If a lawyer doesn’t feel you have a solid case that will win a large enough settlement, he or she will probably not take your case because there wouldn’t be any money from which to gain a favorable contingency fee. If the lawyer feels you do have a solid case, he or she is more likely to take it and fight for compensation.
Typical Contingency Amounts
Each lawyer will have his or her own percentage charged as the contingency fee, though many hover around 33% to 40% of your settlement. You need to keep this in mind as you decide whether hiring an attorney is your best option. For example, perhaps the insurance company offers you $80,000, but you feel you could get $100,000 if you won a lawsuit. If you hired a lawyer at a 33% contingency fee, you would only receive $67,000. It might be better to take the insurance company’s offer.
On the other hand, an insurance company might offer you $80,000, but you feel you could get $150,000 if you win a lawsuit. After the lawyer took out a 33% contingency fee, you would still be left with $100,500. Hiring a lawyer would probably be your best option.
Other Costs
With every lawsuit, there will be additional costs. These are things you should talk to your lawyer about ahead of time, as they often aren’t included in the contingency fee agreement. They might include filing fees, investigative costs, expert testimony and other similar expenses.
Contacting Your Lawyer for More Information
When you’re deciding whether to hire a lawyer for your personal injury case, it’s often best to turn to the source. Contact experienced Elizabeth, NJ personal injury lawyers, such as from Rispoli & Borneo, P.C., today for more information on fees and costs that will be associated with your case.