What Percentage Do Accident Lawyers Take?
Unlike other attorneys who bill hourly and charge for their services upfront, accident lawyers usually work on a “contingency-fee-basis.” This means that they charge nothing initially but are instead paid for their services after a case is successfully resolved, per the American Bar Association (ABA).
Payment for their services comes out of the money they win for their clients, usually through a predetermined percentage. However, when thinking about what percentage accident lawyers take, that answer will rest on the specifics of a claimant’s situation.
Lawyers who work on a contingency-fee-basis risk earning nothing for their work because if they lose a case, their clients do not have to pay anything for their services. The lawyers’ work is “contingent” upon the success of their cases.
Determining Contingency-Fee Percentages
There is no set formula to determine what a lawyer will (or should) charge.
Some of the factors that will influence the percentage your accident lawyer takes include:
The Lawyer’s Experience
A lawyer’s time is valuable, and this is especially true for lawyers with decades of experience. A lawyer with more experience may charge more than a lawyer who is fresh out of law school.
The Amount of Time Needed to Build Your Case
Your lawyer will need to use their best judgment when determining how much time they will need to spend on your case. They will understandably want to be compensated for their time and efforts.
The Cost of Your Damages
In a contingency-fee arrangement, your lawyer will take payment for their help from the money they recover for you. The cost of your damages will determine what you are owed. The more money you are requesting, the more money your lawyer could potentially make. This will play a crucial role in the percentage your accident lawyer will take.
Your Personal Injury Practice Area
An attorney who primarily advocates for car accident victims may charge a different percentage than one who advocates for injured workers. The details of these cases are different and may affect the time, energy, and skills necessary.
The State’s Statute of Limitations
A case’s statute of limitations will affect how long the lawyer has to prepare and file a lawsuit. A case with a soon-expiring statute of limitations could put a lot of pressure on its legal team. For instance, Nevada’s statute of limitations is covered under NRS §11.190(4)(e). A lawyer who has two weeks to assemble a lawsuit may request more money than a lawyer who has the full two years.
There are other factors that could determine how much an accident lawyer takes from a claimant’s insurance settlement or court award.
Your Lawyer Will Explain Everything at the Beginning of Your Partnership
Once you make the decision to work with a lawyer, they will schedule a time and date to meet with you. At your first meeting, they will discuss the details of your case and what you can expect from the legal process. Before taking a single step further, however, your lawyer will present their terms of payment.
If they agree to work with you on a contingency-fee-basis, they will tell you how much they will take from your settlement. If you do not agree with this percentage, you may be able to negotiate for a lower amount.
Work with High Stakes Injury Law on Your Motorcycle Accident Case
If you have been injured in a motorcycle accident and are interested in working with a lawyer, consider hiring High Stakes Injury Law. Our team proudly offers our help on a contingency-fee-basis, meaning that if you work with us, you will not have to pay us anything until your case is over.
Our clients do not have to worry about hidden fees, hourly rates, or retainers. We will outline the terms of our payment plan at the beginning of our partnership, so you know what to expect from us. The details of your case will determine how much we will take out of your settlement.
We Can Help You Recover Compensation
Jack Bernstein and Scott Poisson, the founding partners of High Stakes Injury Law, have over 60 years of combined legal experience. With our help, you could recover compensation for damages like pain and suffering, lost wages, and medical bills.
To contact High Stakes Injury Law about your motorcycle accident case, call (702) 707-5934. Let us help you get the justice and compensation you deserve.