In many cases involving car accidents, people need to hire a personal injury attorney to help protect them from the big insurance companies.
But aren’t lawyers expensive? What are the legal costs in a case like that?
There are several different types of fee arrangements that attorneys use during personal injury claims from car accidents, and we’re here to discuss them today.
Types of fee arrangements for personal injury cases
The three main types of fee arrangements used by personal injury attorneys include:
- Flat Fee Agreement
- Hourly Fee Arrangement
- Contingency Fee Agreement
Flat Fee Agreement
A flat fee agreement is when the attorney asks for a flat rate or fixed fee for the service they’re going to offer you.
This is usually a one-time payment upfront to retain the attorney throughout the case.
Hourly Fee Arrangement
An hourly fee arrangement is when your attorney gives you an hourly rate for all the time they spend on your case.
Usually the attorney tracks the time they spend working on your project and bill you after the case, or on an agreed cycle.
Contingency Fee Agreement
A contingency fee agreement is when you only have to pay the attorney a percentage of the realized fee from the settlement.
This means that you don’t have to pay anything upfront — you’ll only pay if and when they’re successful with your case.
Contingency fee agreements are the most common of the three for personal injury attorneys, although these fees can differ. Some attorneys ask for agreements that state you’ll pay them around a third of the settlement, but the percentage really depends on the case and the attorney.
Contingency Fee Arrangement Details
At the Stewart Law Firm, we use the contingency fee structure for our cases.
Here are some of the most common questions we receive from potential clients about what that can look like:
How do you manage the costs associated with the case?
Most costs have to be managed upfront. For example:
- Paying expert witnesses
- Court costs,
- Research-related costs
- And more
As we are working through our contingency fee agreement, we’ll sit down together and discuss the best ways to handle these types of costs according to your situation.
How is the fee going to work after the case?
You’ll get paid when you settle the claim or win at trail.
So when you pay your attorney, you won’t be paying out of pocket. Your attorney will take the percentage you agreed upon of the settlement and you will have the rest to do as you wish with it.
Call the Stewart Law Firm today to learn more
At the Stewart Law Firm, we understand how insurance companies work. We know how to make sure you get the maximum benefit of your settlement fee, and we know what avenues of settlements you should be looking at. Plus, we’re on your side — we want to ensure you get the best possible deal after your injuries. That’s why we offer contingency fee plans. Contact us today to learn how that could work for your case.
