What are Contingency Fees?

When you hire a lawyer, one of your first questions will likely be about fees. But the type of fee arrangement offered by a law firm will vary depending on several factors, including the type of law practiced, the individual preferences of a lawyer, the complexity of your case, and much more. Typical attorney fee arrangements include retainers, hourly rates, and flat fees, but for personal injury lawyers, the most common payment model used are contingency fees.

Continue reading to learn how contingency fees work and how much you can expect to pay attorney fees under this type of fee arrangement.

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Working on a Contingency Fee Basis

Lawyers who work on a contingency fee basis do not collect any type of payment upfront from a client. Instead, clients only pay their lawyers if they recover a settlement or judgment for them. Payments are conditional, or contingent, under this type of fee arrangement. So, if a lawyer does not win a settlement for their client, the client pays nothing to the lawyer for their services.

If a personal injury lawyer does recover a settlement for their client, the client will pay the initially-agreed upon lawyer fee, which is a set percentage of the total settlement or judgment value. In most personal injury cases, the industry average is about one-third/33.33% up to forty/40%.

Talk to Your Lawyer About Payments and Fees

Knowing the types of fees and prices for lawyers is an important part of choosing a legal team that fits your needs. It is encouraged to ask your lawyer questions about their fee arrangements and billing practices ahead of time so that you are better-prepared when the final bill comes and can fully-comprehend its charges. Also inquire about miscellaneous legal costs that might be expected.

A professional personal injury lawyer should always be fully transparent when disclosing payment and billing details to potential clients. Keep in mind that cheaper does not mean better when it comes to your legal representation.

Your Leading Indiana Accident Attorneys

Call Craven, Hoover, and Blazek P.C. at 317-881-2700 to schedule a free consultation with an experienced Indianapolis accident attorney who can determine the best strategies for your Indiana personal injury or wrongful death case. Not only does our law firm offer free consultations, we never collect lawyer fees unless we prevail for you! Call 317-881-2700 to get started on your financial recovery, today.  We represent injured persons throughout Indiana, as well as the surviving dependents in a wrongful death case.

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Are Personal Injury Lawyers Expensive?

If you are a recent victim of an accident, do not let your income or cash availability stop you from hiring a personal injury lawyer to represent you in your claim for fair compensation. Regardless of employment, income, and cash availability, anyone can afford to retain the services of a personal injury law firm. Furthermore, virtually all personal injury offices offer free, first-time consultations in order to have your case reviewed by a licensed accident attorney.

Continue reading to learn more about paying for a personal injury lawyer, including how much they collect for attorney fees and most importantly, how to get started as soon as today!

Indiana Personal Injury Lawyers 317-881-2700
Indiana Personal Injury Lawyers 317-881-2700

Lawyer Fees

Here in the United States, the most common payment arrangements used by law firms include hourly fees, flat fees, fee retainers, and contingency fees. When it comes to personal injury representation, the contingency fee is the most common fee arrangement used. Under a contingency-fee basis, a client does not pay anything upfront in terms of lawyer fees. Instead, clients only have to pay if a settlement is recovered for them. This is a great advantage for clients since they normally do not have the cash available, to pay the attorney fees, especially after a fall when a person is incurring medical bills and may be off work for a time.

Upon recovering a settlement or judgment for a client, a personal injury lawyer will collect a prearranged percentage previously agreed upon in the signing of the client-attorney contract. Commonly, lawyers retain around 1/3rd of the total settlement, but this percentage varies among firms. Always ask your personal injury lawyer about their payment arrangements and price tiers at your initial consultation. In fact, read our blog, “The First Questions You Should Ask About Your Personal Injury” to learn how to prepare for your first meeting.

What You Might Have to Pay For Yourself

Although personal injury lawyers work on a contingent basis, you might be obligated to pay additional fees related to your case. Such fees may include court costs, witness testimonies, expert panelists, filing fees, private investigation costs, background checks, and more. Most law firms will front these costs for a client until the time of settlement, at which point those fees/expenses would be paid out of the total settlement.  Fortunately, these costs usually do not amount to a lot, and tend to stay within an affordable price range; especially when you consider the settlement you are potentially recovering for your total damages and losses that resulted from your accident. 

How to Get Started on a Personal Injury Claim

Call the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to schedule a free initial consultation with a licensed personal injury attorney in Indianapolis, Indiana. Seasoned lawyers, Daniel Craven, Ralph Hoover, and Keith Blazek, are motivated to help you recover the full and fair compensation you deserve after being injured in a serious accident. Best of all, we only collect lawyer fees if we obtain a settlement for you!

Indianapolis Personal Injury Lawyers 317-881-2700
Indianapolis Personal Injury Lawyers 317-881-2700