After a car accident, victims can face many financial losses. The high costs of medical care, lost income from missing work during recovery, plus the costs of property damage can all lead to financial struggles. While accident victims often wonder about their rights to compensation for their losses in a collision, they often fail to consult with an attorney due to financial concerns. People too often assume that all lawyers charge high hourly rates and that legal bills will only complicate their financial situation. However, car accident attorneys understand that injured victims are usually in a delicate financial position and they are committed to helping victims recover whether they have funds available to pay an attorney or not. For this reason, car accident lawyers provide representation based on a contingency fee arrangement.
How Do Contingency Fees Work?
Contingent fees are tied to whether a lawyer is successful in helping an accident victim obtain compensation. This is important because the financial interests of both the victims and their attorney are tied together. An accident victim does not pay any fees to the lawyer unless they receive a settlement or an award for their losses. The attorney then will get paid a certain percentage of the settlement or award, on which the lawyer and the client will agree at the beginning of the case. The Florida Rules of Professional Conduct also set maximum percentages that lawyers can take depending on the amount of the award in order to ensure the injured client will still receive compensation for their losses.
What Costs Are Associated With A Car Accident Case?
Litigation is not cheap and there are many costs involved in car accident cases. There are court filing fees, costs of depositions and investigations, fees for expert witnesses, and much more in order to build an effective claim. Because many injured victims do not have the extra funds to cover these costs, a car accident attorney will front such expenses so that the client does not have to pay anything out of pocket. The lawyer will then only get reimbursed for these costs out of a settlement or award.
Contingency fee arrangements essentially mean that anyone can afford to hire a car accident lawyer. There is no cost for a consultation or for anything unless an accident victim wins their case, so there is nothing for a victims to lose by discussing their legal options and rights with a car accident attorney today.