Sustaining a personal injury can be a painful experience that can have a long-lasting impact on your life. The trauma of the event alongside the pain and medical bills can be overwhelming. If you were injured due to someone else’s negligence, it can be beneficial to seek the services of a personal injury attorney in Missouri. However, before you hire an attorney, it is essential to understand the structure of contingency fees.
Table of Contents
Understanding Personal Injury Law and Contingency Fees
Personal injury law is designed to provide compensation for injuries incurred as a result of someone else’s negligent actions. These types of claims can be complicated, and to navigate through them successfully, you need the assistance of an experienced personal injury attorney. However, not everyone can afford to hire an attorney upfront, which is why the structure of contingency fees is in place.
Contingency fees are a type of legal fee arrangement that allows you to pay your attorney only if they are successful in securing compensation for your injury. It means that you do not have to pay any upfront costs, nor will you be required to pay your attorney’s fees if they are unsuccessful.
How Contingency Fees Work
Under this fee arrangement, you and your attorney will agree on a percentage of the total amount recovered that they will be entitled to receive as a fee. This percentage typically ranges between 25% to 40% of the amount recovered, depending on the complexity of the case and the amount of work required.
For example, suppose you agree to a 30% contingency fee for your personal injury claim of $50,000. In that case, your attorney’s fee will be $15,000 if they successfully win your claim. If they do not, you will not be required to pay anything.
Factors that Affect Contingency Fees
Several factors can impact the amount of contingency fees you will pay your personal injury attorney. These factors include:
Complexity of Your Case
Personal injury cases can range from simple to highly complex. The more complex your case is, the higher the percentage of contingency fee you can expect to pay. For example, cases that involve multiple liable parties, medical malpractice, or product liability can be more complicated and may require more work.
Amount of Compensation
The amount of compensation you are seeking will also affect the percentage of your contingency fee. Higher amounts of compensation will likely result in a lower percentage of fees, while lower ones will have a higher percentage.
Time Required to Settle the Case
The more time your attorney needs to handle your case, the higher the contingency fee percentage you may pay.
Your Responsibilities as a Client
While your attorney is responsible for handling your personal injury claim, there are several responsibilities you have as a client. These responsibilities include:
Providing Information
You will need to provide your attorney with all relevant information relating to your case, such as medical reports, police reports, and other documents.
Cooperating with Your Attorney
You will need to cooperate with your attorney and provide them with the information they need to build a strong case.
Not Hiding Information
It is essential to be transparent with your attorney about all facts relevant to your case. This includes information that may work against your claim.
Conclusion
Sustaining a personal injury can be a trying and challenging time. In Missouri, personal injury attorneys can assist you with your claim on a contingency fee basis. Understanding the structure of contingency fees and your responsibilities as a client is critical to ensuring the success of your claim. Contact a personal injury attorney in Missouri today to see how they can assist you with your case.