You may be considering retaining a personal injury attorney to help you recover compensation after a car accident. But you likely have questions and concerns about the cost of securing legal representation. How do lawyer fees work in personal injury cases? How much do attorneys take from a settlement? Will hiring a lawyer be worth it in the end?
Here’s a closer look at the typical fee structure for personal injury attorneys and what you can expect when pursuing an injury claim.
Contingency Fee: No Win, No Fee
The majority of personal injury lawyers work on a contingency fee basis. Under this contingency fee arrangement, you pay no upfront or out-of-pocket expenses to hire the attorney. The lawyer only collects a fee if they successfully recover money for you through a settlement or court verdict. You owe them nothing if they don’t secure compensation on your behalf.
A contingency fee agreement gives you access to quality legal representation without taking on financial risk during an already stressful time. You’ll benefit from the strength of a law firm even if you can’t afford to pay a traditional retainer fee. The lawyer assumes the risk and cost of building your case. This gives your attorney extra incentive to fight hard for maximum compensation, as a better result for you means a better result for them.
What Percentage Does a Lawyer Get in a Settlement Case?
How much do attorneys take from settlement agreements? The industry-standard contingency fee is 33 to 40 percent of the gross amount recovered. In other words, if your personal injury case settles for $100,000, your lawyer would take home $33,000 to $40,000, while you’d receive $60,000 to $67,000. The exact percentage varies by law firm, case type, geographic area, and the anticipated volume of work involved.
Many firms use a sliding-scale contingency fee structure. This means the percentage may start lower if your case settles quickly without a lawsuit, then rise through different stages of litigation. For example:
- 33 percent if the case settles before filing suit
- 36 percent if the case settles after filing suit but before trial
- 40 percent if the case goes to trial or requires an appeal
Sliding-scale fees allow you to keep more of a pre-trial settlement while fairly compensating the firm if they have to do more work. Your attorney thoroughly reviews the fee agreement with you before taking your case so you understand exactly what to expect.
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Other Case Expenses to Consider
Besides contingency fees, how much do attorneys take from a settlement? While contingency fees cover your attorney’s time and labor, they typically do not include outside case costs like those associated with:
- Medical records
- Police reports
- Expert witness fees
- Court filing fees
- Postage and travel
These expenses get deducted from your gross settlement and the lawyer’s contingency percentage. Your attorney may cover these costs upfront and reimburse the firm from the settlement or court award. Alternatively, your lawyer may ask you to pay some costs directly as the case proceeds. Again, your lawyer explains all potential expenses from the outset so you can plan accordingly.
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Cost of Hiring a Personal Injury Attorney
So, what’s the bottom line? How much do attorneys take from settlements? Is hiring a personal injury lawyer worth the cost? In most cases, the answer is a resounding yes. Represented plaintiffs secure larger settlements on average than those who try to go it alone.
You’re already shouldering the physical, emotional, and financial burdens associated with an unexpected injury. A skilled attorney can lift the legal burden off your shoulders, allowing you to focus on your physical recovery while they deal with the insurance company and the court system. They can accurately value your claim, gather compelling evidence, and negotiate aggressively for full compensation.
A knowledgeable lawyer also helps you avoid costly mistakes like accepting a lowball settlement offer, missing critical deadlines, or saying the wrong thing to an insurance adjuster. Contingency fees give you access to experienced advocacy at no upfront cost. Most firms also offer free consultations, so it costs nothing to discuss your case and get professional advice.
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Contact Gatti, Keltner, Bienvenu & Montesi, PLC to Learn More About Our Fee Structure
The dedicated Memphis personal injury attorneys at Gatti, Keltner, Bienvenu & Montesi, PLC are here to guide you through the process and fight for the full and fair compensation you deserve. Our legal team has the skills, experience, and resources to take on the insurance companies and win for our clients again and again. Call (901) 526-2126 today or contact us online to schedule your free consultation. Remember, if we don’t win, you don’t pay. You have nothing to lose and potentially much to gain. Let us put our passion to work for your personal injury claim.