By :Douglas A. Petho
If you’ve been involved in serious accident, hiring an attorney to assist in making sure that all medical bills, lost wages, property damages in pain and suffering are fairly compensated is smart decision. However, many people are concerned about the cost of obtaining this help.
Personal injury cases are handled on a “contingency fee”. This means that the amount that is paid is contingent on the accident attorneys ability to get money on your behalf from either the person responsible for the accident or his or her insurance company. If there is no recovery either by settlement or trial, then you pay no legal fees.
Contingency fees are calculated as a percentage of the total settlement or judgment. The usual contingency fee is 33 1/3% of the total amount recovered, plus expenses. Some types of claims, such as medical malpractice claims the usual contingency fee is higher, at 40% of the total amount recovered. Expenses include things such as medical record fees, filing fees, subpoenas.