Personal injury lawyers are dedicated to helping injured victims and their families receive fair compensation for economic and non-economic damages when another party causes them harm. They handle all types of personal injury cases, from car accidents and slip and fall accidents to workers’ compensation and wrongful death.
Most personal injury lawyers in St. Louis, MO, work on a contingency fee basis, which can benefit you in several ways.
What Should You Know About Contingency Fees for Missouri Personal Injury Cases?
A contingency fee is a fee arrangement between a lawyer and their client. Instead of charging their client by the hour for legal services, the attorney receives a percentage of the amount they recover for their client’s injury claim. What does this mean for you?
No Upfront Retainer Fee
There is no upfront charge when you hire a personal injury lawyer. Your lawyer only receives payment for services if you recover compensation for damages. You will not owe them any legal fees if they do not recover money for your claim.
A contingency fee arrangement allows you to hire a lawyer without worrying about how to pay legal bills while you are out of work. Injuries and accidents can cause severe financial hardships for victims and their families.
Access to Skilled Legal Representation
Injured victims and their families deserve skilled legal representation. You may be dealing with a large insurance company with unlimited resources to fight your claim. You need a legal team on your side with the resources and experience to fight for your rights.
Hiring a personal injury law firm levels the playing field with the insurance company. Your attorney has the resources to conduct a comprehensive investigation to identify the parties responsible for your injuries. They can gather evidence proving your case.
Attorneys may hire expert witnesses as necessary to strengthen the evidence in your case. They understand damages and can maximize the value of your claim. A lawyer can also protect you from bad-faith insurance practices intended to cheat you out of the money you deserve.
Your Case Has Merit
Lawyers only take cases on a contingency fee basis if they believe they have a strong chance of success. Their payment depends on the outcome of the case, and so their interests are aligned with their client’s interests. You can be confident that your lawyer will diligently pursue all sources of compensation to obtain the maximum amount available for your case.
A lawyer who works on a contingency fee basis is committed to following through to the very end. Otherwise, they will not receive payment for their work.
How Much Is a Contingency Fee in a St. Louis Personal Injury Case?
Missouri Supreme Court Rule 4-1.5(c) addresses contingency fees. The rule states an attorney’s fee may be contingent upon the outcome of the matter. Contingency fees are allowed in most cases except in family court and criminal cases.
The court does not cap the amount an attorney can charge for a contingency fee. However, the Rule states that contingency fees must be reasonable. Several factors determine the reasonableness of a contingency fee.
Factors that impact the amount of a contingency fee can include:
- The time and effort required to pursue the personal injury case
- The attorney’s reputation, experience, success rate, and educational background
- Whether your case goes to trial
- The geographical area
The typical contingency fee for a personal injury case is one-third of the settlement amount. The attorney may increase the fee if a lawsuit is required and/or the case goes to trial.
Who Pays for Other Fees?
The costs of the case are the out-of-pocket expenses the attorney pays to pursue the claim. Examples of costs in a personal injury case include:
- Copy costs and postage
- Fees to obtain records and documents
- Travel expenses
- Court fees
- Costs of depositions and other discovery
- Trial preparation
- Hiring investigators and other expert witnesses
Most attorneys pay these expenses as they arise during the case. However, the fee agreement may provide that the firm will be reimbursed for the costs from the proceeds recovered from the claim.
Read the entire document before signing a contingency fee agreement. Ensure you understand all terms, including who is responsible for costs if the attorney loses the case. Ask questions until you are confident you understand all terms of the agreement.
To discuss contingency fees and what you would pay in your personal injury case, contact Roach Law Car Accident Lawyers at (636) 519-0085 or contact us online to schedule a free consultation with our personal injury attorneys.
