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.
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.