Before filing a personal injury claim, it’s natural to have many questions. One of the most common, as one might expect, comes down to the costs of hiring a personal injury attorney. Before working together, many of our clients will ask: how much do personal injury attorneys charge?
Luckily, when your personal injury lawyer works on contingency fees (like we do at the Paul Wilkinson Law Firm), you have no financial risk. Essentially, we only get paid if we win your case—it’s that simple. In this blog, we’re taking a closer look at the potential costs of a personal injury attorney and how contingency fees work.
The Paul Wilkinson Law Firm is proud to protect our client’s rights. Proudly serving those throughout the greater Denver area, our personal injury attorneys will ensure you receive the justice you deserve. Whether you’ve been involved in a car accident, motorcycle accident, truck accident, or any other type of personal injury case, our team can help. Even if you believe you’re partially at fault, don’t hesitate to give us a quick call. In just a few minutes, we can assess your case and work to determine if you may be eligible for financial compensation. If so, we’ll do everything we can to ensure you get fair and full compensation.
Table of Contents
How Much Do Personal Injury Attorneys Charge?
We’ve all commonly heard that lawsuits can quickly become expensive. At first, this concern might make someone hesitate before hiring a personal injury attorney. After all, knowing whether or not you can afford this type of legal counsel should be a top concern. Luckily, in the field of personal injury law, you rarely have to worry if you can afford your legal representation. This is because most personal injury attorneys work on a contingency fee basis. Contingency fees help eliminate the financial risk for someone considering filing a personal injury claim. Most contingency fees for personal injury lawyers range between 33 and 40%.
What are Contingency Fees?
So, what exactly are contingency fees? Contingency fees ensure no financial risk to the client when pursuing a personal injury claim. When an attorney works on contingency fees, they only receive payment if you win your case. If for some reason you lose the case, you don’t have to pay any lawyer fees.
Of course, if you win your case, you will not receive the full settlement. If you win your case on the contingency fee model, then your personal injury lawyer will receive a percentage of the overall settlement for their services. While this amount will vary depending on the law firm and the specifics of the case, you can generally expect to pay out roughly 1/3 (33%) of your settlement to your attorney.
However, in some cases, you may be able to negotiate for a lower contingency fee. You may be able to negotiate this if you’ve already done some of the legal work on your own, such as collecting evidence or filing paperwork. Before hiring a personal injury attorney, make sure you clearly understand how they receive payment for their services. If they use the contingency fee model, ask what percentage of your potential settlement they would receive.
Alternative Types of Payment
While the contingency fee model is common for personal injury law, there are alternative fee arrangements. Some of the most common types of payments for legal costs include:
- Hourly fee: aside from contingency fees, this is the most common type of legal payment arrangement. In this method, your lawyer will charge a rate by the hour. This rate will vary from lawyer to lawyer. Before hiring a lawyer on an hourly basis, you should ask them to estimate the time the case will take so that you can better prepare for the potential costs.
- Flat fee: for this method, your personal injury lawyer will charge you a flat, upfront fee for their services. This payment type is more common for routine legal matters that generally work on an expected timeline for the lawyer. These legal matters may include a traffic ticket, a will, or an uncontested divorce.
- Retainer fee: a retainer fee essentially works like a down payment for a lawyer’s services. You’ll pay a lump sum (known as a retainer) at the beginning of the case, and as legal fees add up, these will be subtracted from the retainer. If the retainer is used up, your lawyer may ask you to pay an additional retainer if more time and work is needed for the case. Many businesses use the retainer fee model to have an attorney available when they need them.
Do I Need to Hire a Personal Injury Lawyer?
Looking at the potential costs, many individuals may consider whether or not they need to hire a personal injury attorney. After all, why not retain the full settlement for yourself? But if you’re wondering should I hire an attorney after a car accident (or any other type of personal injury accident), there are several reasons why you should consider seeking out experienced legal representation.
Technically you don’t have to hire a personal injury attorney to represent you, though this is not recommended. Without an experienced and dedicated personal injury law firm in your corner, you may not receive a fair settlement (if you receive one at all). After all, insurance companies are notorious for offering “low ball” settlements to reduce the amount they have to pay out, even if it’s a valid claim. Very few people have the legal knowledge or experience to successfully negotiate with an insurance company or another personal injury attorney. That’s when you should rely on the expertise of a personal injury attorney. They can get you a bigger settlement, and ensure you are getting a fair rate, assuming you have a case.
When you hire a personal injury attorney, they will be able to:
- Assess your case and your full range of legal options.
- Determine whether or not you’re eligible for financial compensation.
- Gather evidence.
- File paperwork and ensure you meet deadlines.
- Negotiate on your behalf for a fair settlement.
- If necessary, represent you in court.
Conclusion – How Much Do Personal Injury Attorneys Charge?
Potential costs should always be prioritized when pursuing a personal injury claim. But luckily, compared to other types of legal representation, personal injury law strives to limit the financial risk for plaintiffs. A personal injury law firm can do this by working, as we do, strictly on contingency fees. This means that we only get paid if we win your case. Not only does this ensure that you receive the best possible legal representation, but it also eliminates any financial risk for you, our client. If we don’t win your case, you don’t pay any lawyer fees.
The Paul Wilkinson Law Firm is a personal injury firm specializing in car accidents and other types of injury cases. If you’re in Colorado and involved in a personal injury case, schedule a free consultation with our attorneys. It only takes a few minutes to learn more about the options available to you and your case.
Get help today. For more information, call (303) 333-7285.