What Percentage Does a Personal Injury Lawyer Take?
Posted on Jun 21, 2019 in Personal Injury
If you have been injured due to the harm or negligence of someone else, you are likely due compensation for your injuries. However, taking on the insurance companies by yourself can be a tall order. Insurance companies have tried and true techniques for minimizing the cost they pay out in settlements. The fact of the matter is, they are a business and they are trying to make a profit.
That’s why you need an experienced personal injury lawyer in your corner, fighting for you and your best interests. But how much will you have to pay a personal injury lawyer? Lots of people think they can’t afford to hire a lawyer—but actually you will most likely end up making more with one on your side.
Have you ever seen those ads for personal injury lawyers touting “We don’t get paid unless you do!” How the heck can that work, right? Well, though it sounds really good as a slogan, the guarantee is actually what’s known as a contingency fee—and it’s fairly common among personal injury attorneys.
Contingency fees are flat-rate contracts that indicate the percentage a lawyer will take if and when a settlement is reached. Industry standards is usually 30% of the total settlement to the lawyer. However, if the case has to go to trial it can be higher. Always be sure you’re on the same page with your lawyer from the outset. A good lawyer should walk you through the contract, to make sure you understand the expenses and agreement.
Contingency agreements are important, because they allow individuals to take on insurance companies and big corporations in injury suits. This can naturally be an expensive process, and particularly after an accident—when you have medical bills and may have to miss work—money can be tight.
With a contingency agreement, the lawyer fronts the money and expenses to get the case going, so that you don’t have to pay anything until after you get your settlement. While some people may be able to afford to pay a lawyer hourly to work on their personal injury case, the contingency agreement allows for anybody to seek the compensation they are due, regardless of economic factors, and while avoiding hidden fees or surcharges.
Bloom Legal Works For You
At Bloom Legal, we have been helping people in the New Orleans area attain the compensation they are due for their injuries for nearly 15 years. We know that there are a wealth of personal injury lawyers our there to choose from. We stand out from the pack with transparency, communication, and our tireless effort serving our clients.
We know how an injury can turn your whole world upside down in an instant. How will I pay my medical bills? How will I take my kids to school? What if I have to miss work? That’s why we’ve made it our mission to help people in need, and get them the compensation they deserve so they can get back on their feet as quickly and painlessly as possible.
Give us a call for a free case evaluation. We will always be honest and forthright with you—and if we aren’t the best attorneys for the job, we’ll point you in the right direction.
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