When you’re talking legal fees for any type of case there are normally some high figures involved and car accident claims are no different. For example, if your are searching for a good personal injury lawyer in Los Angeles then you can expect to pay at least 40% to them should the case be closed in your favor.
How to Legal Firms Decide On Billing?
There are a lot of legal firms that have setup their own payment structure and you might find that some are not flexible on that model since it’s tied into their business plans, however it’s good to know of the various options that are available to you so you can at least ask when interviewing the lawyer for your claim.
In our experience there are 3 main options when it comes to how law firms will accept payments, or at least consider as options when you are discussing the case with them.
A Standard Retainer
The most common way that most law firms accept payment is via a retainer. Each practice will have a set fee that they quote when reviewing your claim. Some firms will request that you pay the retainer as a one off up front amount while others will sometimes offer a part payment of a certain percentage and certain amounts to be paid as the case progresses, with the final payment to be made when the case settles.
The retainer method does favor the law firms rather than the client as the lawyer can charge a set fee for all cases regardless of the type or difficulty, so a case that is not overly complex will be the same rate as one which requires more research and time on their behalf. If your claim is very complex then this payment method is perfectly fine.
By The Hour
Depending on the difficulty of your case and how long it might take to process, you can speak with your lawyer about a pay by the hour agreement. If your claim is fairly straight forward then this is going to be your best option since there will be very little effort on the lawyers behalf and will mean you get to keep the majority of your settlement payout.
Basic claim cases will one need 1 or 2 meetings with the defendant or the insurance adjuster for the compensation to be approved. Paying for a full retainer in these cases will cost you a lot more than you need to pay.
Commission On Case Win Only
This is by far the favourite among both parties. Basically the concept is that the law firm will take the case and do the research, attend meetings and do all the steps they would normally do on a retainer, however you will not need to pay anything unless the case is successful and you are awarded the compensation.
Generally this payment model is used for cases that are quite big, but the law firm feels confident in being able to win. The percentage paid to the team of lawyers might be higher than the retainer model, but you won’t need to worry about any legal fees before, during or after the case has been settled.
So, those are the 3 main way that a law firm will process payments for car accident and personal injury cases. In some situations you can choose the model which suits you but it will depend on how the firm approaches their claims. For more information on claims and lawyers be sure to check out www.car-accident.info for all the latest and best content.