How Much of a Settlement Do Personal Attorneys Take in Attorney Fees?
McKay Law works for its injured clients on a contingency fee. The attorney fees are contingent upon winning the claim or lawsuit if a lawsuit becomes necessary.
The majority of personal injury law firms do not charge clients for services unless a settlement or trial victory results in a settlement paid by the insurance company. At McKay Law, our clients do not pay anything unless we win the lawsuit or reach a settlement during claim negotiations.
It is normal to be concerned about the expense of legal representation and the percentage that attorneys receive from a settlement, particularly if you are facing multiple medical costs and have missed work as a result of your injuries. However, you shouldn’t let these worries keep you from speaking with an experienced personal injury lawyer to ensure your legal rights are properly protected.
Frequently, people who are hurt in accidents are aware that they can claim to get paid for their losses. Nonetheless, it’s not uncommon for people to wonder if they require legal counsel for their claim. Their frequent belief that they cannot afford the legal bills is a major factor in their hesitation. Regardless of a client’s financial situation, legal counsel is accessible thanks to the contingency fee model used by the majority of personal injury attorneys.
While it may seem that there is no cost to you, one-third of the settlement may be costly in the end, the no attorney fees to the client unless we win takes all the risk out of the claim for the client. Without any monetary risk, an injury victim can typically experience 3.5 times more settlement money than injury victims who do not have a lawyer representing them.
Being represented by a personal injury lawyer plays a significant role in how seriously the insurance company and insurance adjuster take your claim.
Most personal injury lawyers have 95% win success rates. Therefore, an injury victim increases the chances of a positive claim outcome considerably with legal representation and improves the settlement amount dramatically.
A Personal Injury lawyer pays for themselves by getting their injured clients 3.5 times more money. For this service, the attorney fees in a contingency agreement are essentially free to the client with the injury victim, after contingency fees, getting 2.5 times greater in net settlement amount than without a lawyer.
A Contingency Fee: What Is It?
A few of highly esteemed legal practices, such as McKay Law, only collect money after successfully obtaining settlements on behalf of their clients. You won’t be responsible for paying your attorney fees if your claim or lawsuit is unsuccessful. In addition to providing low-income clients with access to legal counsel, contingent fees indicate a lawyer’s level of confidence in their ability to prevail in a particular case.
The terms of the agreement you work out with your lawyer before hiring them will determine how much of a contingency fee you will pay. Generally speaking, contingency fees range from thirty to forty percent of the total settlement sum. Approximately 33 percent, or one-third of the total settlement, is the usual charge for the attorney fees.
To put it simply, your lawyer will get $33,000 if the settlement is worth $100,000.
What Other Charges or Expenses Must an Injury Victim Client Anticipate?
The attorney fees related to your case may be covered by your lawyer, contingent on the lawyer and your agreement with them. After that, your portion of the dividend will be reduced by these expenses. These costs include filing fees and records requests that are necessary to assemble the strongest possible case. There may be deductions for attorney fees on things like:
- Medical records
- The cost of postage and court filing fees
- Trial exhibits and depositions; filing fees; and police reports
- Fees for experts and investigators
How Are Attorney Fees Received by Lawyers?
The insurance provider will not give you a check when your claims procedure is complete. Rather, the settlement cheque will be accepted on your behalf by your attorney. From that sum, the lawyer will take out any necessary attorney fees and costs. After that, they’ll deliver the remaining amount straight to you.
If I Had No Attorney, Would I Get Paid More?
It is everyone’s right to file a claim independently. Before making the decision, there are a few important factors to keep in mind.
It’s not always the case that you can get a higher settlement sum if you represent yourself without legal representation. Those with seasoned attorneys on their side typically receive higher payouts with the norm being 3.5 times more.
Those without legal representation are frequently targeted by insurance firms, who attempt to deceive them into thinking their claims are worth far less than they actually are. Your attorney can stop this kind of strategy from impacting you.
Furthermore, litigation is occasionally required for personal injury claims. The fact that you are representing yourself will not get you a better hearing from the judge if this becomes required. It will be expected of you to be as knowledgeable about personal injury law as an attorney should be. This can make it much more challenging for you to make the kind of argument that will get you the money you are due.
Lastly, hiring a personal injury lawyer will free up until your settlement time so you can concentrate on getting better. Your lawyer can work on developing a strong case on your side in the interim. You may be confident that your lawyer will put in a lot of effort on your behalf if you have a contingency fee agreement in place because they won’t get paid unless you do.
Speak With a Skilled Personal Injury Lawyer Right Now
It is always a good idea to have a top-notch attorney on your side if you have been hurt in an accident in Texas. At every stage, the skilled personal injury attorneys at McKay Law will defend your rights and work hard to get you maximum compensation.
Get in touch with McKay Law by submitting your case online or give us a call at (903) 465-8733 to discuss how we can assist you and to arrange a free case examination. McKay Law charges no attorney fees unless we win!
