Personal injury attorneys together with car accident lawyers either charge their clients hourly billing rates, or they have contingency fees. Each of the systems has their advantages and disadvantages. As you go through the procedure of selecting your car accident attorney,, you need to consider the system that will be the best for you.
Types of Charges
Contingency Fees: These are paid if the lawyer receives money for you from the person who is responsible for your auto accident, or from their insurance company. If the attorney cannot settle or win the case, no fees are paid. If you get the money, you will have to reimburse your attorney for the costs that are incurred in your case (for instance, expert witness testimony). Usually, lawyers who work on a contingency basis will relinquish the charges if they cannot win or settle the case successfully.
Contingency fees are a part of the judgment or settlement. Some lawyers take a certain percentage of the award which is given before the expenses are deducted. Others take a part of the net award once the charges are deducted. The percentage varies depending on the place of your residence. You can negotiate with your lawyer to agree to a reduced percentage, but all negotiations should be completed before you choose to hire the attorney.
The benefit of contingency arrangements is that if the lawyer cannot settle or win your case, you will not incur the extra cost of compensating for the expertise and time of the lawyer. It indicates that the lawyer is more inspired to get the largest settlement possible or judgment for you, since the larger the compensation, the greater the financial benefit.
The drawback of the system is that if the lawyer can settle the case easily, you might feel as if it was not worth the money. Another aspect is the amount of money that will be left once the expenses and contingency fees are paid for. You can always get a ballpark estimation before deciding to recruit the lawyer. This will help you know that your expenses and medical costs will be included in the amount received once the fees are paid.
Hourly Billing: These rates are self-explanatory. Most auto accident attorneys are paid for every hour that they spend on your case, irrespective of whether there is compensation or not. The car accident lawyers do not generally charge clients on an hourly basis. This indicates that your case is not quite as strong. If that is the case, you should pause and consider whether you are keen to continue with your auto accident claim or if you will consider the settlement offered by the insurance company and be content with the amount.
If you are in need of a car accident attorney, please contact http://www.eLawsuit.com/find-a-lawyer
Article Source: https://EzineArticles.com/expert/BJ_Jeffries/1763394
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