Accidents can get expensive fast. From medical costs to property damage, a victim may suddenly be faced with many bills and expenses in the aftermath of an accident in Nevada. Personal injury lawyers recognize that this is the case among accident victims. For this reason, most operate on a contingency fee basis, meaning there are no upfront costs and the client only pays if the attorney wins the case.
There Is a Free Case Review
First, the client will be given a free consultation. This is an initial meeting between the client and an attorney at the law firm, scheduled at no cost to allow the prospective client to ask questions, get to know the attorney and learn about a potential case without spending any money. The complimentary case review should come with no pressure to hire the law firm.
You Pay $0 While the Attorney Works on Your Case
When a law firm states that it handles personal injury cases on contingency, this means the attorneys will not get paid for their services unless they win. There is no retainer fee: an upfront amount required in other payment structures to “retain” (initiate) the lawyer’s services. There are also no costs while the attorney works on the case. The lawyer can complete tasks such as investigating the accident, providing legal advice and counsel, preserving and collecting case-related evidence, negotiating a fair settlement from an insurance provider, and even bringing the case to trial, if necessary – all for $0 in attorney’s fees.
You Pay $0 if You Lose the Case
“No upfront costs” in a contingency fee payment arrangement also means no costs at all if the personal injury case does not result in a financial recovery for the client. If the attorney does not win the case – meaning achieve a successful settlement from an insurance company or judgment award from the courts – the client won’t be charged a dime in attorney’s fees. The lawyer will not charge anything for the work already done on the case.
You Will Only Pay From Funds Won
With a contingency fee payment structure, the attorney’s service fee will only come from the amount collected on behalf of the client; it is never billed to the client directly. This way, contingency fees allow all of the financial risk involved in pursuing a case to pass to the personal injury lawyer. The lawyer will not get paid unless he or she wins the case. This also provides greater incentive for the attorney to succeed and collect as much money as possible on behalf of the client. It is different from an attorney who uses an hourly rate or flat rate, as this will be charged for services regardless of whether the lawyer wins or loses.
You Will Agree to the Fee Rate Before Hiring the Lawyer
If you sign a contingency fee contract with a personal injury lawyer in Nevada, it should contain the exact percentage of the lawyer’s fee rate. This percentage is the amount of money the attorney will deduct as his or her fee from any settlement or judgment won. The amount of a contingency fee rate will depend on the lawyer and the case. Most are around one-third or 33.33 percent of the settlement or successful verdict. However, it can range from 25 percent to 40 percent or higher, depending on the situation. A more complicated case may have a higher fee. The lawyer is required to give the fee amount upfront.
There Are No Hidden Fees or Surprises
If a personal injury case reaches a settlement or a positive jury verdict, the client will be presented with a closing statement. This statement will give the total amount of financial compensation awarded, along with exactly how much was deducted for the attorney’s fee. It may also include amounts deducted to cover your medical debts or liens related to your medical care. The remaining funds will be dispersed to you once you sign off on the statement. For more information about how contingency fee structures and “no upfront costs” work during a personal injury case in Las Vegas, contact Koch & Brim, LLP. Our attorneys take pride in protecting injured accident victims by maintaining affordable contingency fee rates.