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What Percentage Of Your Compensation Does A Personal Injury Lawyer Get?
There is no set percentage that a personal injury lawyer can obtain from the final monetary compensation they can get you awarded. The standard, however, is anywhere from 33 percent to 40 percent. Taking 50 percent of your final compensation is unreasonable. Typically, the charge is 33 percent prior to lawsuit filing and 40 percent thereafter. For personal injury cases against the Municipality, County, State or any other Governmental body, the fee that can be made is capped at 25 percent. There are several other contingencies or fee percentages. Bear in mind that they should be clearly explained to you by your personal injury lawyer in the agreement reached between you and them
You can ask for a reduction of your attorney fees since it is your case. However, your personal injury lawyer may be unwilling to negotiate the percentage of the compensation they receive. There are certain factors that may encourage them to bargain over the percentage they receive. For instance, smaller firms commonly charge less than large firms. Also, if you have a lucrative or interesting case, a lawyer may be willing to negotiate. In some cases, personal injury lawyers are paid on a sliding scale determined by decree. For example, 33 percent or one third for the first $250,000 in damages then 25 percent for the next $250,000 and 15 percent beyond that.
It makes sense to speak to a number of different personal injury attorneys before hiring one. When shopping for lawyers, make sure to assess the intrinsic worth of the case and the possibility of receiving money if successful. In general, the more viable your personal injury case is, the lower contingency percentage you could be able to bargain. Getting legal services can be compared to a consumer transaction. Speak to several personal injury lawyers and compare their fees. Only after you obtain a sense of the attorney fee range will you be able to figure out which rate and lawyer best suit your needs and budget.
Making the amount you will be charged or what percentage will be taken by a lawyer from the total monetary compensation you recover clear is very important. Before you hire a personal injury lawyer and sign anything, discuss this issue first. Such structure can guarantee that you do not end up getting less compensation by having a personal injury attorney than you would have if you accepted the earlier offer of the insurance company on your own.
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