What Percentage Do Most Personal Injury Lawyers Take?
If you’ve been injured in an accident in North Carolina, hiring a personal injury lawyer can help you get the compensation you deserve. However, one of the most common questions people ask is: “How much will a personal injury lawyer take from my settlement?” The answer usually depends on the type of case and the agreement you make with your lawyer. However, most personal injury lawyers work on a contingency fee basis, meaning you don’t pay unless you win.
What Is a Contingency Fee?
A contingency fee is a type of payment structure where a lawyer only gets paid if they win money for you—either through a settlement or a court judgment. Instead of charging by the hour, the lawyer takes a percentage of your compensation. If you don’t win, you won’t owe the lawyer any legal fees.
What Percentage Do Most Personal Injury Lawyers Take?
The percentage a lawyer takes depends on the case and the agreement you make, but most personal injury lawyers charge between 33% and 40% of the final settlement or court award. Here’s how that typically breaks down:
- 33% is the standard rate if your case is settled before going to trial.
- 40% or more may be charged if the case goes to court, goes through an appeal or becomes very complex and time-consuming.
The percentage might seem high, but remember, your lawyer only gets paid if you do. Plus, they take on the risk, front the costs, and handle all the legal work.
What Costs Are Included?
Besides a lawyer’s contingency fee, additional case expenses are often involved in personal injury claims. These are the costs needed to investigate, prepare, and argue your case. Common costs include:
- Court filing fees
- Medical records and reports
- Expert witness fees
- Accident reconstruction experts
- Police reports
- Postage, printing, and copying
Some lawyers will pay these upfront and take them out of your settlement. Others might expect you to cover them as the case progresses.
Ask your lawyer if these costs are included in the percentage or if they’re separate. Also, ask whether these costs will be deducted before or after calculating the lawyer’s percentage. This can make a big difference in your final payout. Be sure to understand what you’re responsible for before signing any agreement.
Can the Percentage Be Negotiated?
Yes, in some cases, the contingency fee percentage can be negotiated. This often depends on:
- The strength of your case
- How quickly it might settle
- How much money is at stake
- The lawyer’s policies
If your case is straightforward and likely to settle quickly, a lawyer may agree to a lower percentage. On the other hand, if your case involves a lot of work or needs to go to trial, they may insist on the full 40%.
You can ask:
- “Can your fee be lowered if we settle early?”
- “Will the rate go up if we have to go to trial?”
- “Can we cap your total fee if the payout is low?”
Don’t be afraid to ask questions. Some lawyers are flexible, and it’s important to know what you’re agreeing to.
Why the Contingency Fee System Benefits You
The contingency fee structure exists to give people access to justice, regardless of their financial situation. If you’re dealing with an injury, medical bills, and lost wages, you might not have the money to pay a lawyer upfront. This system ensures that anyone can pursue a fair settlement with legal help.
It also means your lawyer is motivated to win because their payment depends on your success. They won’t waste time on weak cases and usually work hard to get you the best outcome. A contingency fee will protect your financial interests and help level the playing field against insurance companies.
Contact an Experienced Charlotte Personal Injury Lawyer at Chandler Volta Personal Injury Lawyers Today For Help
For more information, contact an experienced personal injury lawyer at Chandler Volta Personal Injury Lawyers to schedule a free consultation.
We proudly serve clients in Charlotte, NC, and its surrounding areas:
Chandler Volta Personal Injury Lawyers
1009 East Blvd Suite 110, Charlotte, NC 28203
(704) 980-9999