Typically, a personal injury attorney takes 33% of a total settlement. But in some cases, this percentage may go up or down, depending on several factors, such as whether the claim ends up going to trial.
If your claim goes to full trial, you’ll incur additional expenses, including filing fees, witness fees, records request fees, the cost of printing and photocopying court documents, and more. These expenses must be included in the final settlement, which might affect the percentage that goes to your personal injury attorney in Columbia, South Carolina.
So, as you figure out how to talk to a personal injury attorney and the benefits of hiring a personal injury lawyer after an injury, you need to consider the cost. In most cases, you won’t have to pay your attorney directly from your pocket. This alleviates any financial stress that might be caused by the personal injuries you’ve sustained and subsequent legal battles.
What Determines the Percentage a Personal Injury Lawyer Takes?
As noted above, several key factors will determine how much your personal injury lawyer in Columbia will charge you. These factors include:
- Contingency fees, as opposed to the upfront cost
- The outcome of your claim
- Administrative expenses
- Time taken and other legal services offered throughout the process
Attorney’s Contingency Fees against Upfront Cost
Instead of charging you an upfront cost for your personal injury claim, your lawyer will most likely charge you a contingency fee. This means that they won’t charge you anything until your claim is successfully settled.
So, if you lose the claim, you won’t be obliged to pay your personal injury attorney anything. This is considered to be a protection measure for you because you won’t have to worry about any attorney fees when you’re already dealing with the financial anxiety that comes with suffering serious personal injuries. It also serves as a motivating factor for your attorney to work extra hard to get you the best possible settlement.
The larger the final settlement you get, the higher the percentage that goes to your personal injury lawyer will be. However, it’s important to note that some personal injury attorneys will charge you a retainer fee, which you’ll be required to pay upfront to access the attorney’s services.
So, it’s important to choose your personal injury attorney in Columbia wisely, especially if you don’t have the means to pay upfront costs. Attorneys who hire contingency fees are usually more affordable and convenient than those who charge upfront costs.
The Outcome of Your Personal Injury Claim
As mentioned earlier, if your personal injury lawyer has charged you a contingency fee, they won’t ask you for any money if you lose the claim. But if you win the claim and get a full settlement, they’ll charge a certain percentage of the total settlement–some can charge as low as 10% or as high as 50%, depending on the complexity of the case.
The percentage charged by your attorney will be agreed upon before filing the claim. Your lawyer will require you to sign an agreement acknowledging the charge. Once you sign the agreement, your attorney shouldn’t ask for any additional payments that aren’t present in the agreement.
Administrative Costs
Whether your personal injury lawyer charges you an upfront charge or a contingency fee, they’ll factor in any administrative fees that they’re likely to incur while handling your claim. These costs include the cost of filing your claim, printing and copying documents, and any other miscellaneous expenses.
In most cases, this cost is quite minimal, but it can cause the total percentage charged by your attorney to increase significantly. For instance, if your claim takes years to resolve, the administrative fees charged might be substantial.
Duration of the Case and Other Legal Services Offered
As mentioned above, the time it takes to settle your personal injury case has a bearing on the percentage charged by your attorney, largely due to the additional expenses involved. This is why it’s important to hire a qualified and experienced personal injury lawyer who will settle your claim quickly.
Also, be sure to hire a personal injury attorney who will reduce their administrative expenses to reduce the overall cost of your claim. Although most personal injury claims are resource-intensive, a professional attorney has the required tools and knowledge to reduce costs where possible.
