Accidents are common throughout Las Vegas. This includes car accidents, slips and falls, and many other scenarios.
You may be considering legal action if you have been injured in such an incident. You may also wonder how much it will cost to hire a lawyer.
Having to fork out hundreds or thousands of dollars upfront for a legal case is daunting for most people.
Fortunately, they don’t always have to do that. In Las Vegas, many personal injury lawyers offer the option of contingency fees. This agreement allows plaintiffs or victims to get the legal help they need without paying by the hour.
Contingency fees vary depending on the case. So, it is important to understand when contingency fees make sense and how the concept works.
How Do Contingency Fees Work?
A contingency fee is essentially a different method of paying for legal services. These fees are structured so that a lawyer will only get paid if they win your case.
Instead of charging by the hour or asking a flat fee, the lawyer will agree to take a percentage of the settlement. If the lawyer is unsuccessful, you will not have to pay them anything. Keep in mind that administrative costs may still apply.
Las Vegas lawyers typically offer contingency fee structures for cases involving car crashes, medical malpractice, and slip-and-fall accidents. For those who cannot afford to pay upfront, it ensures a chance at being compensated for their losses.
Contingency Fee Percentages
Not all lawyers work according to the same contingency fee percentages. The percentages usually range between 33% to 40% of the final settlement. However, this may vary further based on:
- How complex a case is: Some cases are harder to win than others. For instance, winning a medical malpractice case may be much more challenging than a slip-and-fall case. So, a lawyer may charge a higher percentage because of the amount of time and resources used.
- Risk level: If there is no way to determine the possible outcome of a legal case, a lawyer may up the contingency fee percentage. This helps offset the risk in case of a loss.
- Stage of litigation. A lawyer will charge a lower contingency fee if a case is settled before a lawsuit is filed. If the case goes to court, the fee will be increased accordingly.
When Contingency Fees Are Worth It
There are many instances in which a contingency fee structure is worth considering. These include:
- You have a strong case. If you have enough evidence to support your claim, a contingency fee will likely work in your favor. For instance, if you have a police report, medical records, and eyewitness testimonies, you have enough evidence to prove your claims.
A lawyer will likely accept your case on a contingency fee if all these components are in place.
- You are not financially stable. Not everyone can spend hundreds or thousands of dollars for legal services upfront. And personal injury cases tend to be expensive because of legal fees, investigation services, court filing fees, and more.
With the option of a contingency fee, you can carry on with your personal injury case, even if you are not financially stable. This makes it possible for you to hold responsible parties accountable.
- There is a substantial potential settlement. If a lawyer believes you could get a large settlement, it is also worth opting for a contingency fee. For instance, if your injuries result in high medical expenses, long-term disability, and lost income, a large settlement will make the lawyer’s fee very reasonable.
- You want a motivated lawyer. Most lawyers who work on a contingency fee basis are highly motivated to win cases. This is because their payment is dependent on the outcome. This incentive makes them work harder on personal injury cases to secure a win.
- Your case is risky. If there is no way to predict the outcome of your case, a contingency fee is the safer option. As the case drags on, you may pay a higher percentage of the fee, but you will not have to find the money to keep paying per hour.
- You want an expert lawyer. Getting an experienced lawyer with access to the resources that will help win your case is important. Personal injury lawyers usually work with a network of other experts to increase their chances of winning a case.
Other Factors to Consider
While it is clear that there are several advantages to contingency fees, you must still consider other factors.
If your potential settlement is small, the contingency fee percentage will possibly leave you with too little money to cover your damages. For instance, if a 33% fee is deducted from $10,000, it will be difficult to recoup medical expenses and lost wages.
If your case is straightforward and it is clear that the other party is at fault, you should consider negotiating a lower fee percentage. This is mainly because your lawyer will not have to spend as much time trying to win your case. It may be worth comparing a flat fee with contingency fees to see which will work best.
Moreover, it is crucial to remember that you may have to pay extra expenses. These expenses may be deducted from your settlement before the lawyer takes their percentage.
Choosing the Right Lawyer
A contingency fee option should not be the only reason you decide to work with a particular lawyer. When you are looking for a personal injury lawyer, look for someone with a proven track record in cases that are similar to yours.
Make time to read testimonials and reviews from other clients. Do not only select the positive ones but read the negative ones, too. This will give you a balanced idea of how the lawyer operates.
When you meet with a lawyer, ask about all fee structures. If you decide on a contingency fee arrangement, get a written agreement.
Contingency Fees Can Help You Pursue Legal Action Immediately
A contingency fee means you do not have to delay filing a personal injury claim. You can immediately get the legal assistance you need and ensure you get the compensation you deserve.