Contingency Fee Agreements in Personal Injury Cases
Many personal injury attorneys will initially take fees through a retainer which is an amount paid when the lawyer is hired initially to assure the client that the lawyer will perform work and assure the lawyer of payment for at least part of the services rendered. More often than not, retainer fees are nonrefundable. Alternatively, when a lawyer agrees to take a percentage of a settlement or judgment awarded to a client the fee is called a contingency fee. This is because the fee that is awarded is contingent on whether the client can obtain a recovery in their personal injury claim. That means that a lawyer who agrees to represent you in your personal injury claim will not get paid unless they can get you compensated for your injury. The fee that may be charged by a personal injury attorney may be regulated by state law and can fluctuate depending upon the type of case but generally the percentage is never more than about 1/3 of the final settlement or 33.3%. However, in some rare instances the fee may be higher if your case is taken up on appeal in which case the percentage may increase your agreement with a personal injury lawyer should have specific provisions including the amount or percentage that is to be paid upon recovery if it did not and the lawyer is asking for what seems to be an unreasonable amount it probably is contingency fees are often prohibited in certain types of cases including child custody cases criminal matters and divorce many states require the contingency agreement in Florida for example contingency fee agreement between lawyers and client must be in writing specific terms
This is because a personal injury lawyer will not get paid unless their client makes a recovery in their personal injury case. In most personal injury cases, attorneys will collect a percentage of the total recovery at the conclusion of the case.
Fees and Costs
It is necessary to comprehend the difference between fees and costs in a personal injury case. Attorney’s fees are the payment for a lawyer’s time spent working on your personal injury case. Alternatively, costs are the expenses that an attorney pays out of their own pocket on your behalf to be able to proceed with your case. At the onset, the costs associated with bringing a personal injury claim or case may be relatively low. For example, a personal injury attorney will usually pay upfront for the costs of obtaining a police report or copies of medical records and bills. However, if your personal injury case goes to trial, you can expect the cost to increase. It is challenging for most individuals to raise the necessary funds to pay a personal injury lawyer in advance. Additionally, most individuals do not have enough savings to pay a personal injury lawyer on an hourly basis throughout the entire length of their personal injury lawsuit or claim. For this reason, lawyers have developed an alternative payment system that requires no money upfront from injury victims in order to get their personal injury case off the ground. Instead, a personal injury attorney will take a percentage of the client’s final settlement amount or jury award. This is known as a contingency fee agreement and it can be extremely helpful to clients and lawyers alike. Typically, personal injury lawyers will represent an injured person on a contingency fee. The essence of a personal injury case is that a human being has been injured. The contingency fee allows an injury victim to prosecute a claim they otherwise couldn’t afford to pay for. It also ensures that the injury victims claim has some merit because a knowledgeable personal injury lawyer is unlikely to accept or keep a case without merit.
Contact a Personal Injury Lawyer Today!
At Suarez and Montero, our policy is that if you don’t recover compensation, you won’t pay any fees for our services. Not to mention, we also provide free case consultations where we assess the circumstances surrounding your case and give you an objective overview of what steps you can take going forward if you decide to take action against the party responsible for your injuries. For over 19 years, we have delivered quality legal representation for people who, through no fault of their own, have been injured in all types of motor vehicle accidents. We are available 24/7 to give you a free, no risk case consultation.
We serve clients throughout Florida including those in the following areas:
Miami-Dade: Aventura, Coral Gables, Doral, Fontainebleau, Hialeah, Homestead, Kendall, Miami, Miami Beach, Miami Lakes, North Miami, Tamiami, and Westchester.
Broward: Fort Lauderdale, Hallandale Beach, Hollywood, Pembroke Pines, and Weston; and Palm Beach County including Boca Raton, Lake Worth, and West Palm Beach.
