Many victims are skeptical about hiring a personal injury lawyer. This skepticism is because of many reasons. For instance, some have heard terrible things about attorneys. Some others don’t have enough money to pay a lawyer. Yet another class is bothered about the percentage their lawyer will take if they win.
For this latter class, this article explains how much your lawyer will take after settling or winning your claim. Despite your fears, it’s always best to hire a Maryland personal injury attorney. This is because an excellent attorney significantly increases your chances of winning your claim. Furthermore, the percentage your injury attorney collects really won’t be an issue if they secure the maximum settlement for your case.
Contingency Fee Arrangements (CFAs)
Many personal injury attorneys work on a contingency fee basis. This is because few injury victims can pay an attorney upfront. A CFA implies that you don’t have to pay the lawyer except they win your case. Therefore, the attorney will receive their percentage from the settlement or judgment amount.
If the attorney loses the case, they often get no money. CFAs have a further advantage as they motivate lawyers to work hard at winning. Furthermore, many attorneys offer free consultations on client’s cases. You wouldn’t know if you have a valid claim until a personal injury lawyer evaluates it and gives you an opinion.
How Much Does My Injury Lawyer Take?
There’s no definite amount your lawyer takes after winning your personal injury claim. Instead, their share of the win is often expressed in percentages. If your injury lawyer works on a contingency fee basis, the contingency fee agreement will spell out how much of the winning sum they’ll get.
Frequently, personal injury attorneys collect as much as 33% of the wins. This is about one-third of the amount the fault party pays. Furthermore, lawyers generally peg their percentages between 30 and 40 percent. It’s pretty rare to see a lawyer taking more than 40% of a settlement.
For instance, if the responsible party pays $40,000 after negotiations or a trial, your lawyer will take $12,000 if you agreed on a 30% fee. Generally, the earlier the fault party pays, the lower you have to pay your attorney. For instance, if they pay just after receiving your lawyer’s demand letter without contest, your lawyer’s cut will be lower than when the case drags to court.
What Is the Implication of Other Costs?
There are extra expenses your attorney may incur when pursuing your personal injury claim. These costs are the necessary expenses the lawyer has to make to prove your claim. They include:
- Filing fees
- Expert witness bills
- Postage fees
- Trial exhibits
- Investigation costs
- Police paperwork
- Cost of getting your medical records
Depending on the agreement, an attorney will recover all these costs separately from the percentage they take from the winning. These bills are mostly unavoidable, especially if you get to trial. It will be best to extensively discuss the issue of costs with your attorney before signing an agreement.
Who Gets the Check?
After winning your personal injury claim, the next vital issue is who gets the settlement or judgment check. Typically, when the fault party pays, it’s your lawyer that receives the check. This guarantees that you’ll pay your injury lawyer for their services. Since many lawyers don’t charge upfront fees, clients may avoid paying them when the case settles if the client gets the check.
However, it would be best if you didn’t bother about this issue. Once your personal injury attorney receives the check, they’ll contact you. Furthermore, they will send you their bill, which should contain a list of everything they’re charging you for. It would help to go through this list before the lawyer deducts their pay. Finally, if you dispute any portion of the bill, the money is put in a trust account until you settle the issue with your lawyer.
You Can Trust Our Maryland Injury Attorneys With Your Case
Have you survived a car accident in Maryland and need a lawyer you can trust? If so, Pinder Plotkin’s lawyers are just right for you. We understand the many misconceptions surrounding lawyers and money. Therefore, we ensure that we perform our duties with the highest standards of accountability.
We also have a track record of winning Maryland car accident cases. Our injury attorneys have multiple years of experience getting settlements for our clients. All this experience is sufficient to win your case too. All you need to do is call us today for a FREE consultation.