Have you been injured in an accident in the Bronx? Has a party caused you to sustain an injury because of their negligence or wrongdoing? You could be entitled to substantial compensation for your injuries and damages.
However, have you avoided calling a Bronx personal injury lawyer because you fear that the cost of hiring a lawyer is too high? If so, you may want to discuss a contingency fee arrangement with an attorney.
Most personal injury lawyers in the Bronx, NY do not require any money upfront to hire them for legal representation.
What Is a Contingency Fee in a Bronx Personal Injury Case?
A contingency fee is a form of payment for legal services.
Attorneys may charge for their legal services in several ways. An attorney can charge an hourly rate for services. The lawyer bills the client for the exact amount of time spent working on the case.
Other lawyers might work for a flat fee. The attorney agrees to handle the entire case for one upfront payment.
Personal injury lawyers generally work on a contingency fee basis. The contingency fee equals a percentage of the amount the lawyer recovers in the client’s case. Therefore, instead of receiving payment upfront or during the case, the lawyer is paid after they recover money for the claim.
The attorney is not paid for their services if the lawyer does not recover compensation for the client. Therefore, lawyers take cases that they believe they can win. Otherwise, they would continuously perform legal services without payment.
How Much Does a Bronx Personal Injury Lawyer Charge for a Contingency Fee?
According to the Model Rules of Professional Conduct, the contingency fee must be reasonable. Rule 1.5 states that a lawyer shall not make an agreement or collect an unreasonable fee. Several factors determine whether a contingency fee is reasonable.
Factors that determine how much a personal injury attorney charges for a contingency fee include, but are not limited to:
- The complexity of the case
- The lawyer’s experience, education, special certifications, and success rate
- The parties involved in the personal injury case
- How much other lawyers charge in New York City for similar cases
- The amount of time the attorney expects to spend resolving the case
A standard contingency fee for many personal injury cases is 33% of the amount recovered for the claim. Lawyers usually charge a higher contingency fee if the attorney files a lawsuit and the case goes to trial. However, most personal injury cases are settled without filing a lawsuit or going to trial.
Contingency fees must be explained in detail in the attorney retainer agreement and contingency fee agreement. In addition, the agreement must specify the percentage charged during various phases of the case.
Who Is Responsible for Paying the Costs to Pursue a Personal Injury Claim in Bronx, NY?
In addition to attorney’s fees, case expenses must be paid.
The costs of pursuing a personal injury claim include:
- The cost of obtaining medical records, accident reports, and other documents
- Postage and copy expenses
- Mileage and travel expenses
- Fees for court reporters and depositions
- The cost of hiring expert witnesses
- Trial preparation costs
Typically, a Bronx personal injury lawyer pays the costs of a case as they are incurred. The retainer and contingency fee agreement provides that the law firm will be reimbursed for these costs from the personal injury settlement or jury verdict.
However, before hiring a lawyer, discuss what happens should the attorney fail to recover compensation for your claim or if the compensation is insufficient to cover the expenses. The terms for paying the costs of the case should be included in the agreement to hire the law firm.
Why Should You Hire a Bronx Personal Injury Lawyer?
The insurance adjuster might tell you that you can receive more money if you handle the claim without a lawyer. However, the insurance adjuster will not tell you how much your claim is worth. Their job is to pay the smallest amount possible to settle your claim.
Therefore, one of the reasons for hiring a personal injury lawyer is to understand how much your case is worth. In many situations, people are surprised to learn that their case is worth much more than the insurance company offers for settlement. They may also be unaware of all types of damages they could receive, including economic and non-economic damages.
Additionally, hiring a personal injury lawyer means you have someone working for your best interests who understands personal injury laws and how to maximize your recovery amount. Your attorney handles all aspects of your case, including gathering evidence to prove fault and liability. Because you have the burden of proving fault, it helps to have someone with the resources and skills to handle your case.
There are many reasons why you should hire a Bronx personal injury attorney. You can learn about those reasons by taking advantage of a free consultation to discuss your personal injury case with a lawyer.
Contact Our Personal Injury Law Firm in Bronx, NY
We have two convenient locations in New York: