How Much Should Your Personal Injury Lawyer Charge You
Personal injury cases are one of the most popular ones but rarely do individuals know how much personal injury lawyers cost. Typically, it varies per state, county, and specialization. For instance, a Jacksonville personal injury attorney charges differently from a Brooklyn criminal lawyer. In any case, here’s how much they should legally and sufficiently charge.
As to the Contingency Fee
In a case involving personal injury, the services of a lawyer are offered on a contingency basis. This means that whatever settlement is reached upon final judgment, the lawyer would receive a percentage from it.
In other words, the fees paid to a lawyer are deducted from the settlement favorable to either party. Note, however, that you must carefully assess the percentage cut of your lawyer.
Ideally, when settlement is met before litigation, you must grant you attorney no more than 33% upon a demand letter. If, however, it reaches lawsuit, give your lawyer a percentage close to around 40% as just compensation.
As with Costs and Expenses
The contingency cut is justified since most personal injury lawyers primarily cover the extra expenses and cost of the case. This involves medical records, police reports, postage, filing fees, transcripts, among others.
These costs, however, grow significantly over time. It may take up to 45-60% of the settlement. This way, when the lawyer deems it necessary to deduct cost and expenses, they may do so at a reasonable angle. Be prepared to cover it, because it will most likely happen.
As With Settlement Checks
To ensure that the right amount of percentage from the proceeds of the settlement are sent to your lawyer, he or she will be given a settlement check. This is duly deducted from your share to make sure that each cut is given to the right person.
In conclusion, personal injury lawyers are costly but with reasonably set limits and boundaries. Aside from cost and expenses, the bulk of the cost would come from their cut from the final judgment of settlement. This is how much your personal injury lawyer should charge you: none for the settlement (since it’s on a contingency basis) and more for the cost and expenses.