Is a Denver Negligence Lawyer Expensive?
Unlike most attorneys, a Denver negligence lawyer does not get paid upfront or by the hour. They instead charge a contingency fee, which is a percentage of a client’s settlement. If a negligence lawyer Denver CO trusts does not win a case, they won’t receive any money.
How a Contingency Fee Agreement Works
In a negligence case, you will only have to pay your attorney if he or she wins you a settlement. He or she will take a fee out of your compensation. In general, personal injury lawyers receive approximately one-third of the settlement amount.
During your first consultation, your lawyer will ask you to sign a fee agreement if you hire him or her. In this agreement, you will learn how and when the lawyer will be paid and what percentage of your settlement he or she will take. Remember to verify the lawyer’s fees before you sign the contract.
There are other fees that a Denver negligence lawyer may charge, including the cost expert testimony, deposition expenses and office fees. Your lawyer will pay for many of these expenses to build the case. The costs to prepare your case will be taken from your settlement later on.
A contingency is beneficial because it means you will not owe any money out of your own pocket during the case. You likely have expensive medical bills and may be out of work, so you do not need the added stress of legal fees.
Average Denver Negligence Lawyer Fees
Typically, a personal injury attorney’s fees are 33.33% of the settlement amount. This fee can go up and down depending on an attorney’s experience and location. If the case goes to trial, many attorneys increase the fee to 40%. However, the majority of personal injury lawsuits get settled before they ever see a courtroom.
To give you a better picture of a contingency fee arrangement, think about receiving a $15,000 settlement for your injuries. Your lawyer charges $500 to prepare the case and takes 33.3% from the settlement. You will be left with $9,667.
The lawyer contingency fee system exists to allow personal injury victims to pursue compensation for their injuries without breaking the bank. If you were hurt in an accident, you should contact a skilled Denver negligence lawyer, Richard Banta Law, as soon as possible; he can discuss contingency fees in further detail at 303-331-3415.