If you have been shopping around for a personal injury lawyer in Indiana, you have probably come across advertisements like, “You Don’t Pay Unless We Win”, or “No Fees if We Don’t Recover for You.” These statements are referring to the law firm’s attorney representation contract, or contingency-fee agreement.
As a recent victim or survivor who was wrongly injured in an accident, it is important to know the difference between personal injury fees and legal costs, including how contingency-fee pricing models work and how much you can expect to pay out of pocket for your impending or potential lawsuit.
Continue reading to learn more about contingency-fee agreements and the additional costs expected in a personal injury lawsuit, as well as who you can trust to obtain the maximum settlement for your Indiana accident case.
Facts About Law Firm Contingency-Fees
Under a contingency-fee contract, both the lawyer and the client are agreeing upon an arrangement. Basically, a personal injury lawyer is agreeing to represent a client without asking for any money or payment upfront, and the client is agreeing to pay the lawyer a certain percentage of their settlement or judgment they receive from their claim.
Generally, the most common percentage used is 1/3 of the total settlement. But the actual percentage varies among firms and can also depend on when the settlement is recovered. Some law firms even use a sliding scale that increases in percentage as the case progresses. Here is an example:
► 33.33% Fee for claims settled out of court.
► 36% Fee for claims that settle before trial.
► 40% Fee for claims settled at trial by jury.
Although some attorneys charge 50% Fee in certain cases, Craven, Hoover and Blazek, P.C. does not. The part of a contingency agreement that is “contingent” or conditional, is whether or not the lawyer recovers a settlement for the client (either via settlement or court trial). If no settlement is awarded, the client does not have to pay because there is no settlement to pay from.
Attorney Fees Versus Expenses
Lawyer costs and lawyer fees are separate from one another. “Fees” are the payments made to lawyers for their services, which they only receive if they recover a settlement or win a trial. “Costs” on the other hand, are the expenses incurred throughout the legal process for the purpose of keeping the case going. These include document preparation costs, filing fees, court costs, expert witness imbursements, and more. It all depends on the length and complexity of the claim.
How to Cover All Legal Fees Without Feeling Any Financial Impact
So long as you hire a seasoned and skilled Indianapolis personal injury law firm to represent your case, you will not have to worry about being negatively financially impacted after winning your personal injury lawsuit. A skilled personal injury attorney will ensure that you receive the maximum settlement or verdict for your case. If you hire the right legal team, you should have more than enough compensation to pay your attorney fees and resulting legal costs, plus have a substantial amount of compensation left over. Hiring the right attorney will allow you to obtain a full and fair settlement or verdict.
The bottom line is you will always be better off hiring an experienced attorney than not hiring one.
Are you looking for skilled personal injury attorney to represent your recent accident case in Indiana? Contact the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to meet with a seasoned Indianapolis Indiana accident attorney you can trust to recover the settlement you deserve. We represent victims all throughout the state of Indiana and Indiana residents injured in other states.
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Common Fee Arrangements for Legal Representation
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