At Armstrong Lee & Baker LLP, one of the most common questions we are asked is how much a lawyer gets from a car accident settlement. Some people hesitate to get legal help because they believe the attorney fees will be too expensive and don’t understand the risk of going up against insurance companies alone. Here’s a look at how much attorneys typically receive and why accident victims who don’t have legal representation rarely get the compensation they deserve.
Attorneys and Settlement Payments
A lawyer’s fees from a car accident settlement can vary depending on several factors, including the lawyer’s fee structure, the case’s complexity, the amount of time and resources invested in the case, and the negotiated settlement agreement.
Most car accident lawyers work on a contingency fee basis, meaning they only collect a fee if they successfully recover compensation for their clients. Typically, the lawyer calculates their fee as a percentage of the total settlement amount, typically ranging from 25% to 40% of the settlement.
For example, if a car accident settlement is $100,000 and the lawyer’s contingency fee is 25%, the lawyer would receive $25,000 as their fee, leaving the remaining $75,000 for the client. It’s important to note that these percentages can vary depending on the specific terms of the lawyer-client agreement and any applicable state laws regulating attorney fees.
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Other Fees
In addition to the lawyer’s contingency fee, clients may also be responsible for reimbursing the lawyer for any out-of-pocket expenses incurred during the case, such as court filing fees, expert witness fees, medical records, and other litigation costs. The attorney typically deducts these expenses from the settlement amount before calculating their fee.
Discuss fee arrangements and potential expenses with your car accident attorney before entering into a representation agreement. You want to make sure you clearly understand your potential financial obligations and the fee arrangement’s terms. Please review any written fee agreements carefully and ask questions if you have concerns or need clarification on any aspect of the agreement.
Why Hiring a Car Accident Lawyer is Worth It
You might think 25%-40% is a major percentage to pay an attorney. However, if you don’t have legal representation, there’s a very good chance you won’t receive anything for your suffering.
Insurance companies are notorious for denying claims. They love it when they encounter an unrepresented injury victim because they believe it will be easier to defeat them in court.
According to research, about 75% of people with legal representation report being satisfied with their settlements, compared to less than half of unrepresented injury victims. Even after taking out attorney’s fees, plaintiffs are still happier than those who did not seek legal representation.
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Speak With a Skilled Armstrong Lee & Baker LLP Attorney. You’ll Be Glad You Did
Choosing an experienced and qualified accident lawyer significantly increases your chances of securing a fair settlement after a car accident. Contact us today and find out how an Armstrong Lee & Baker LLP car accident attorney can help you get the compensation you deserve.
Scott Armstrong obtains remarkable results for his clients. He has successfully tried numerous cases to favorable verdicts and reached significant settlements on his clients’ behalf. In the process, he has recovered millions for his clients.