Following your involvement in an accident which left you injured, you are likely to require medical assistance. The more severe the injury, the more medical and rehabilitation bills will pile up, and the more time you will need to take off of work. The best way to alleviate that financial pressure is to file a claim for compensation.
A personal injury claim has the highest chances of success when your case was built with the help of an experienced personal injury who knows which records and what evidence will need to be gathered to solidify your case. Though while most people are aware of this, many are still hesitant to obtain legal counsel due to fear of legal fees. We hope to ease these fears by exploring the ways in which your personal injury lawyer in Waterloo may request payment.
When a lawyer requests payment on contingency fees, that means for you that there are no upfront fees or any out of pocket expenses. Instead, you and your lawyer will agree upon a percentage that the lawyer will receive from your settlement once, and only if, your case is settled successfully. In the event that the case is lost, the lawyer will not be paid at all.
The percentage is usually determined when the lawyer is hired and put to paper on a contingency fee retainer agreement. In that agreement, it should also state what were to happen if you were to change lawyers’ mid-case. Whichever fee is requested is usually determined by the lawyer asking themselves the following questions:
• What are my chances of winning this case?
• What is the subject matter? How complex is it?
• Is the case risky, and will it require additional expenses?
• What is the estimated settlement amount?
• Do I have to pay an award of costs to any expert witnesses or others?
• How high are these awards of costs?
It should be noted that most lawyers work on a contingency basis, which is why the vast majority of them are very picky with the cases they choose to take on. This means that, if your case is taken on, it is highly likely that the lawyer who accepted it believes they can obtain you a good settlement amount. However, it is much easier if you work with your lawyer on contingency basis as you only pay when they win.
If you, for whatever reason, uncomfortable with the idea of a contingency fee, then your lawyer is required to offer you the alternative of an hourly rate. You may need to pay an advance if you want to hire them on hourly fee basis. Not all of the accident victims are in a position to pay in advance.