How Much Will My Personal Injury Attorney Cost?
In contemporary society, we expect to get quality service when we pay for something, and the world of personal injury litigation is no different. Read on for information on how pricing works when hiring a personal injury attorney.
The Important Role of Contingency Fees
Contingency fees are one of the most important factors to consider when looking to employ the services of a local personal injury attorney. Under a contingency fee structure, plaintiffs do not pay anything up front. The personal injury attorney will not charge any kind of flat fee or hourly rate for services rendered. Instead, the personal injury attorney will retain a fixed percentage of whatever monetary amount is ultimately awarded in damages to the plaintiff. In other words, the attorney’s compensation will be “contingent” on their client actually winning their personal injury case against the negligent defendant.
This contingency fee rate differs among attorneys and firms, but often falls between 33% and 40% of the total award amount. In the event that the plaintiff loses their case, their attorney typically does not collect any fees. This works to the advantage of both the attorney and the client, in that the client does not need advanced economic resources to hire an attorney and the attorney maintains their motivation to negotiate the highest possible settlement for their client.
Taking Related Fees into Consideration
Attorneys need to work to collect the evidence needed to win a personal injury case. This work often requires some additional fees that should be made evident to clients early in the process of building a case. Examples of additional fees include the costs of obtaining medical records and hospital documents, accident reconstructions, expert witness accounts, and court fees.
In many cases, your personal injury attorney will keep a running record of these costs and add them onto the total amount billed once the case is won. Plan on discussing additional costs early and often throughout the planning and litigation process.
Tips for Estimating Compensation Awards
Often, the victim of a motorcycle injury wants to understand how much they can expect to recover in monetary compensation after winning their personal injury lawsuit. There are many different types of compensation that may be available to victims of motorcycle accidents. Some of the most common types of compensation include:
- Medical expenses: You may be able to recover compensation for your medical expenses, including hospitalization, surgery, rehabilitation, and medication.
- Lost wages: If you are unable to work because of your injuries, you may be able to recover compensation for your lost wages.
- Pain and suffering: You may be able to recover compensation for the physical pain and emotional suffering that you have endured as a result of the accident.
- Property damage: If your vehicle was damaged in the accident, you may be able to recover compensation for the repairs.
The amount of compensation that you may be eligible to receive will depend on many factors, including the severity of your injuries and relative negligence of each party involved in the accident.
Professional Legal Counsel in New Jersey
For years, the attorneys at Ferrara Law have been helping personal injury victims in New Jersey fight for compensation for their injuries. Contact Ferrara Law today to discuss your case.