You wish to hire one of the best personal injury solicitors so that you get the maximum settlement amount. But, you are worried about the fees of the solicitor.
After getting injured, financial problems strike very hard, and making any decision regarding the same becomes very complicated. Spending even a single penny becomes difficult. In this crisis, hiring a personal injury solicitor becomes a big thing. People are unable to decide if they should hire a professional or fight the case all by themselves.
Having the best personal injury solicitor by your side is like winning half of the case. You feel confident because the solicitor knows how to handle the situation in the best way. The solicitor knows what to do, when to do and how to do so the result comes in your favor. The best thing about working with the personal injury solicitor is that he tries all the methods to get the maximum settlement amount.
A personal injury solicitor will take all your worries. So, you shouldn’t think about the cost, instead, you should understand the cost pattern. Just keep in mind that there is no standard cost charged by the personal injury solicitor.
Contingency fees
Do you know what contingency fees are and how is it associated with the fee structure of the personal injury solicitor?
Most of the best personal injury solicitors charge a contingency fee, which is beneficial for you as well as the solicitor. In this, the solicitors don’t get paid until they obtain a financial recovery for personal injury clients, meaning you. The percentage that solicitors charge is anywhere from 33% to 50% of the total settlement amount. One factor that plays an important role in determining the exact percentage is the complexity of the case.
Sometimes, the fees exceed the settlement amount received by the victim. The contingency fee is something very tricky and you have to be very careful about the same. There are some other costs as well that are added or received by the solicitor at the closure time.
Why should you agree to a contingency fee and not the standard fee?
As already said, the contingency fee structure benefits both parties. But, if we discuss it individually, the benefit is more for you.
In the standard fee structure, the personal injury solicitor might not be very serious about winning the case thinking he will get the agreed amount anyways. The solicitor might not give his best.
In the contingency fee structure, the solicitor will work hard because the percentage depends on the winning and the settlement amount. If the solicitor doesn’t win, he might get nothing or just a few bucks.
Talking about the personal benefit, you don’t have to come up with a large sum of money to hire a lawyer. You can even contract with the best personal injury solicitor with no money in your hand.
A contingency fee is a great idea when working with a personal injury solicitor. But, before you sign the agreement, read the fine lines and understand the fee structure properly. Also, you should review the contract and ask questions if you are confused.
