Feeling helpless is one of the worst positions to be in. If you’re feeling like you don’t know where to turn after a car accident, don’t worry.
A lawyer can advocate for you and help you navigate the choppy waters of a settlement. While you may be worried about personal injury lawyer fees, there is good news.
Among other things, you likely won’t pay anything until the end. Here are several other important things to know about hiring an attorney to help with your injury case.
1. Your Lawyer Will Pay You
Because the cost of a personal injury lawyer is a lot, many personal injury lawyers get paid on contingency. That means they only get paid if you win your case, and then they split the settlement with you.
To help your attorney make sure they get paid, the settlement goes to them. Then they’ll cut you a check for your portion. In the end, your lawyer actually pays you, rather than the other way around!
2. You Won’t Be Charged Expenses til the End
Part of the cost of a personal injury attorney is the expenses they incur as they work on your case. If they have to pay to get copies of your medical files or mail forms, they’ll cover the cost as it comes up. After your case is settled, then they’ll deduct the fees from your part of the settlement.
It’s comforting to know that you won’t be expected to front the bill for new expenses throughout the case.
3. By State: Personal Injury Lawyer Fees
The cost of a car accident lawyer depends on the state in which you file your settlement. Some states mandate that a lawyer cannot charge you more than a third of the settlement.
Other states allow for a sliding scale approach. For example, for a case that is settled out of court you and your lawyer may agree on less than a third. By the same token, anything that goes to trial may award the attorney as much as 40%.
4. You May Not Have to Pay Anything
Many personal injury fees are assessed based on winning your settlement, as discusses above. This means that if you don’t win, you won’t owe your lawyer anything. The attorney will have to carry the cost for their own expenses in that case, and you likely won’t owe them anything.
Although no one wants to lose their settlement, it’s great when you’re not liable in the event that you don’t win your case.
5. Special Rules
In some states, there are terms of the agreement that apply if your settlement is over a million dollars. The attorney’s fees for the funds after the first million are typically lower than their percentage for the first million.
In case you were wondering how much to set aside to pay income tax, don’t worry. Most personal injury fees aren’t taxable, either, with a few exceptions. This is more good news.
If you’ve been in an accident and aren’t sure about hiring some help because of personal injury lawyer fees, hopefully these important facts will help you decide. Having someone with experience to advocate for you in court is important if you’re serious about winning your case.
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