How much would the Car Accident Lawyer be paid for Handling your Compensation Case?
In case, you have been in a car accident and it has become apparent that the other driver was at fault, you would be against the car accident lawyer of the plaintiff who would be representing the person filing a personal injury lawsuit when the case is filed into the court. The question to ponder upon would be how much you need to pay to the attorney.
A majority of car accident attorneys would charge for their services in a fairly unique manner. It would be opposed to the hourly fee charged by several firms in other kinds of cases. It would be pertinent to mention here that the car accident attorney would charge a contingency fee to take on an injury case. A contingency fee would imply that the firm would not be paying the fee for the attorney unless you had recovered money in your compensation claim. The law firm or the lawyer would get paid a specific percentage of money received from the settlement with the car insurance company or verdict of the jury.
Let us delve on how the contingency fees would work and what amount you could expect to give a fee when you decide to hire Colorado’s top law firm to handle your specific case.
What should be the contingency percentage?
It would be pertinent to mention here that the percentage received by the lawyer in a contingency fee agreement could vary largely. However, it would range from 25% to 40%. It would also be pertinent to mention here that the usual standard would be 33%. Therefore, in the event of you having nearly 33% contingency fee arrangement and you recovered approximately 90,000 USD in the car accident compensation claim; the attorney would receive nearly 30,000 USD.
What would be the fee in event of out of court settlement?
It would not be wrong to suggest that the percentage for contingency fee would largely depend on whether there is a need to file a personal injury lawsuit against the other driver or the defendant. The percentage would be on the lower side with there being an out of court settlement between both the parties.
However, in event of the settlement occurring after the suit has been filed and after the defendant has served a formal answer to your specific complaints or in the event of the case proceeds to trial and the verdict has been reached by the jury, there would be a considerable increase of 40% in the share of the attorney.