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What Percentage Do Lawyers Take for Personal Injury?
After suffering a serious injury or loss of property due to someone else’s negligence, you may desire to seek just and fair compensation for what you have gone through. Unfortunately, at times, accident victims hold back from taking rightful legal action because they fear they cannot afford to hire a lawyer.
However, unlike other lawyers, most personal injury attorneys do not usually charge hourly or upfront fees for their services. Instead, your lawyer is more likely to take a predetermined percentage of any final settlement amount. With this type of contingency fee arrangement, you do not have to pay anything until you get money for your claim.
If you or a loved one has suffered harm due to another person’s negligent or reckless act, please do not hold back from getting the restitution you deserve. The New York personal injury lawyers at Hill & Moin LLP are here to help you understand your legal options. Call(212) 668-6000 to schedule a free case evaluation today.
The Contingency Fee System
A contingency fee is a fixed percentage fee agreed upon by the client and the attorney before entering into settlement negotiations or filing a lawsuit. The payment of legal fees is dependent on the successful outcome of the case. Simply put, in most cases, you won’t pay anything unless your attorney wins your case.
The contingency fee agreement is a written and binding contract, signed by the client and the personal injury law firm. The exact percentage a personal injury lawyer takes from his or her client depends on the circumstances of each case. Each injury claim is unique, with individual factors impacting how much an attorney will charge.
Experienced personal injury lawyers accept cases they believe they can win. This means that, in the vast majority of cases, the injury victim receives at least some compensation.
Factors Impacting the Percentage Lawyers Take in a Personal Injury Case
Multiple factors affect how much personal injury attorneys may charge for their cases. Consider the following, for instance.
Administrative fees and out-of-pocket expenses
Necessary administrative tasks are associated with every personal injury claim. Further, there may be additional case expenses involved in a personal injury lawsuit.
Case expenses may include such things as:
- Document copying fees
- Filing and records fees
- Courier fees
- Legal transcription fees
- Expert witness fees
- Travel and investigation expenses
- Court costs
- Additional out-of-pocket expenses
Especially complicated cases, or ones that take longer to resolve, may tack on significant administrative fees and expenses. Most personal injury lawyers are willing to pay these upfront costs on condition of reimbursement from the final settlement.
The complexity of your personal injury case
Complex cases tend to take longer to resolve. The amount of time your attorney spends on your case may affect the contingency fee percentage he or she charges.
If, when reviewing your case, your injury lawyer foresees that a great deal of time and resources will be required, he or she may raise the contingency fee. Product liability and medical malpractice cases often result in complex and lengthy litigation. However, it is to be noted that, under New York law, there are contingency fee limits in medical malpractice cases.
The total amount of your personal injury claim
Generally speaking, the larger your personal injury claim, the greater the settlement amount. Your attorney may be willing to lower the percentage of contingency fees if your claim is large enough.
The strength of your personal injury case
Well-practiced personal injury lawyers only accept the personal injury claims secure enough to be won. Still, some cases are stronger than others. If your injury attorney is convinced that you have a sturdy case, he or she may agree to a lower contingency fee.
Whether your personal injury case goes to trial
Trials can be costly and time consuming. The contingency fee agreement you signed with your lawyer may stipulate that the fee’s amount will increase in the event your case goes to trial.
Contingency Fees Work to Your Advantage
The contingency fee system is for the benefit of personal injury victims. Under this arrangement, attorneys work on a contingency basis rather than charging an hourly fee. Thus, those hurt have the opportunity to seek compensation for their injuries, no matter their current financial status.
If you feel you have a valid personal injury case the contingency fee system can help you in multiple ways:
- You can secure legal representation under nearly all circumstances: Contingency fees allow you to obtain quality legal representation. Even when you don’t have any money to cover attorney costs.
- You have access to the right lawyers to defend your claim: Since there are no upfront costs, you have the freedom to choose a lawyer with a successful track record, as well as a lawyer with whom you personally feel comfortable working.
- There is little financial risk in pursuing your case: In the unfortunate event that your case is unsuccessful, you will not have to worry about owing a large attorney fee.
- Your attorney is incentivized to seek maximum compensation for your case: The amount of money your lawyer makes is directly dependent on the size of your compensation award. Therefore, he or she is sure to work as hard as possible to maximize the outcome of your claim.
The contingency fee arrangement enables you to afford to protect your rights. Don’t miss out on your opportunity to make your life whole again after a serious accident. A knowledgeable personal injury lawyer can help you to establish the facts of your case and advise you on the ideal way to successfully resolve it.
Reach Out to Personal Injury Lawyers in New York City for Advice
A serious personal injury can lead to untold pain and suffering. Trying to navigate the legal system while recovering physically and financially may leave you feeling distressed and anxious, but an adept, compassionate personal injury lawyer can ease this process for you.
At Hill & Moin LLP, we like to act on your behalf as your “lawyers in the family.” Because we care for each of our clients.
With over 50 years of combined experience, the legal team at Hill & Moin LLP has dedicated their efforts to successfully litigating serious personal injury claims of New York residents on a contingency fee basis. When you have knowledgeable and experienced personal injury lawyers on your side, you can be confident that your future is secure.
Reach out to a personal injury lawyer at Hill & Moin LLP, located in New York City, to help you understand your legal recourse. We offer our clients Personal Injury Recovery Solutions® that work. Call (212) 668-6000 to schedule a free consultation today.
Don’t wonder about your rights!