Personal Injury Lawyers: How They Make Their Money

The biggest question we get as injury attorneys is this one: "Just exactly how much money do you make?"

It's a fair question, because when you're considering hiring the services of a personal injury lawyer, doesn't it make sense to know what you're going to pay ahead of time?

Exactly how much it costs will be explained in detail here in this article. Most personal injuries occur because of the negligence of another. The last thing you want is to be misinformed when you talk to your lawyer.

How Personal Injury Attorney Fees Really Work

Whether you've been the casualty of a car or truck accident because of another motorist, a motorcycle crash where you've been side-swiped by a truck or a loved one has been abused in a nursing home, you want pay back. And if this has happened to you, then you ought not waste any time in contacting an injury lawyer who has your best interests in mind.

Immediately following an accident is a very confusing time. So you want to understand where the money flows when you enlist the services of a personal injury lawyer.

There are two basic ways that these lawyers get paid, but one is the most popular by far. We'll discuss that most popular way below.

Understanding Contingency Fees

The most common means by which injury lawyers charge to settle personal injury matters is through the contingency arrangement. Most non lawyer types may not be familiar with the terminology? but they are probably familiar with the way it works.

What contingency amounts to is a percentage of the compensation you receive when your case is successful. When this lawyer charges a contingency fee, you are hiring them at no cost unless your case is successfully settled.

Contingency really protects you in the event that your case is not successfully settled, you don't owe the personal injury lawyer a dime. In turn, he collects no fee at all.

What Is the Standard Contingency Fee for a Personal Injury Lawyer?

Contingency fees may vary from country to country, as well as from attorney to attorney. For most personal injury lawyers, the contingency fee arrangement is 33% of the settlement amount.

In all likelihood, your personal injury lawyer charges a standard fee that he doesn't change no matter what kind of accident or injury is sustained.

In order for you to make an educated decision on which personal injury lawyer to choose, you should have a firm understanding of their fee structure. Do the right thing and discuss their contingency process extensively before you agree to sign them on as your attorney.

Why Contingency Fees Benefit Both Parties

When you think about it, both you and your attorney benefit from a contingency arrangement. You only pay unless the lawyer is successful at doing his or her job. This is why the contingency arrangement is so popular? because it's an ideal scenario for you as well as your attorney.

The best part of this contingency arrangement is that you will have a lot of confidence in your attorney to do the best job they possibly can to win your case. If they don't put forth their best effort, they don't make any money.

Although contingency is a very fair arrangement for both you and your attorney, you'll need to find out if his fee is based on net or gross. If it's not, it's less advantageous. If it's gross, it's more advantageous for you.

Although it's very rare to see a net contingency arrangement? as most are gross contingency arrangements, to protect yourself you should ask your attorney. It lets him know that you know the rules of the game.

For all the reasons mentioned above, it's obvious to see why contingency is so popular as a means in which lawyers make money. And it's nice to know that the arrangement is mutually beneficial to all parties involved. Good luck winning your personal injury case..

To get more information about hiring personal injury lawyers, visit our website.

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