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What Contingent Fees Mean To You
Virtually all personal injury attorneys work on what is called contingency. Contingency fees mean that the money earned by your personal injury lawyer comes from a percentage of the settlement or judgment you win. The upside of this is that you pay attorney fees only if you win. Your attorney is also financially motivated to get you the best possible outcome because he or she stands to make more if you do. Perhaps the most important aspect of contingency fees is that they allow many people to have an attorney who would otherwise be unable to afford one.
What Percentage Goes To The Attorney?
In Florida, contingency fees are generally one-third of any recovery or 40 percent if the case requires litigation.
The Costs And Benefits Of A Personal Injury Attorney
The cost of your personal injury lawyer should be compared with what you stand to gain. Research has shown that the average settlement or judgment paid to a person who is represented by an attorney is greater than that received by a person representing him- or herself. Moreover, the difference is greater than the average fee paid to the lawyer. You will still likely end up with more money even after the attorney’s fees are deducted from the settlement or judgment, though it is impossible to guarantee a result in any personal injury proceeding.
Attorney Fees And Legal Fees
The contingency fee covers attorney fees, but this does not include every expense related to filing a lawsuit. Things like filing fees, court expenses and other legal costs are not included in the percentage deducted from a settlement or judgment. It is important to discuss all types of fees, not just contingency fees, when deciding whether to hire an attorney.
You should be prepared to have a frank discussion with your attorney about costs and fees when you meet. At Winters & Yonker, P.A., we believe in providing the care and guidance our clients need during a difficult time. We will be happy to discuss your case and the costs of retaining us to represent you during a free initial consultation. Contact us online or call 888-373-7770 today.