When deciding whether to file a car accident, the question that arises is what it will get you out of it.
In the kind of high quality claims you should have an attorney for, you will often see comparisons in the tens of thousands of dollars. Settlement amounts for your typical personal injury cases range from $ 3,000 to $ 75,000, with an average payout of $ 52,900, according to Lawyers.com.
However, if you look at the results of top lawyers, you will often see a long list of auto accident claims resulting in payouts of $ 300,000, $ 600,000, and even settlements up to and above $ 1 million.
How Much Does a Personal Injury Lawyer Cost?
We know that most people who want to hire a lawyer are focused on cost. In fact, more than half of our respondents said they were reluctant to hire a lawyer because “they are asking too much money”.
Nobody should go without the medical care they need, be bankrupt in an accident, or give up the life they knew because they can’t afford a lawyer to fight for them. This is why many lawyers work on a contingent fee so you don’t have upfront costs to bring your claim. This means that you can get legal representation without having to pay out of pocket. The fees are paid from your statement as a percentage of the total. This percentage is generally determined by government regulations and depends on how much money your attorney can get for you. On average, this percentage is 33%
A third of your payout may sound like a lot, but remember, your attorney is bringing immense value to your claim. There’s a reason lawyers get clients, on average, 3.5 times more money than unrepresented applicants for themselves. This added value goes well beyond the 30 percent fee your lawyer charges. In addition, your car accident attorney will take the cost of the upfront cost forward so you never have to pay them out of pocket. This fee is used for these expenses.
Will you see some of the money after the legal fees and taxes are paid?
Yes! Your attorney should do everything possible to provide you with the full amount of money that you are entitled to. This amount should be significantly higher than the outstanding bills – the lawyers may negotiate for you – and the cost of pursuing your claim.
The attorney fee is limited to a percentage of your refund. So there is no way you can pay an attorney more than you actually get for the lawsuit, and litigation for compensation is generally not considered taxable income.
How long does it take to reach an agreement? How much time will it take
Compensation for your claim is a process.
In part, it takes time because you don’t want to agree to a settlement amount until you are far enough in your recovery to know how much your medical treatment will cost you and how much work you are likely to miss. Otherwise, you cannot be sure that you will be receiving the full amount of money that you are entitled to.
It can also take some time for both sides of the case to review all of the evidence, negotiate a settlement with the insurance company and, if necessary, schedule a court date for legal proceedings.
For claims where the breach is resolved relatively quickly – although it may not seem “quick” to you as you go through it – law firms typically close the case within a few months.
Fortunately, this does not mean that you will personally spend months or years pursuing the claim. Rather, you entrust the case to your attorney, and for the most part, avoid the burden of having to keep working to move it forward. Your lawyer will take care of everything from gathering evidence to negotiating with the insurance company. So you no longer have to worry about paperwork, frustrating phone calls to the insurance provider, and other issues.
Your legal team should be in touch with you on a regular basis to keep you updated on the progress of your case and to let you know if you need to participate in any legal proceeding such as a filing or arbitration. They should also help you understand what to expect. However, the time required for the case is minimal.
I’ve seen firsthand the difference it makes to families affected by a car accident to have help, support, and a reason to believe that things will get better even in the toughest moments. It pays to contact a car accident attorney to find out what your rights and options are.