It can be very difficult for many individuals to come up with the money needed to cover an attorney. And most individuals would find it quite difficult to pay an attorney on an hourly rate over the course of the pursuit of a personal injury suit and possibly even lawsuit. Thus, lawyers that take on personal injury or accident cases have developed an alternate payment method in which they take no money out of a client until they actually file a legal victory in a personal injury or accident to court. These “contingent fee” personal injury lawyers essentially provide their clients with the funds that they need to obtain legal representation. (This is also referred to as contingent fee financing.)
Many individuals are unaware of the existence of contingent fee personal injury attorneys. Essentially, these attorneys accept a certain percentage of a settlement or verdict in a personal injury case as their compensation. The fact that they are required to take this percentage depends on the terms and conditions of the settlement or verdict. For example, if the settlement or verdict is extremely large, the Woonsocket personal injury lawyer may simply take a huge percentage of the award. If the amount is not extremely large, the attorney may decide whether or not to pursue the case at all. This contingency fee basis of paying a percentage of the award to the attorney is certainly not limited to personal injury attorneys.
The vast majority of the United States population lives in a state that has a “no win no fee” type of law. In Rhode Island, personal injury attorneys are actually required to bill their clients for the services they perform. The Rhode Island Supreme Court has held that these bills of fees are intended to be a “last-ditch effort” for the attorney to recoup some of the money that the client has spent in pursuing the case. Most personal injury attorneys actually prefer to retain an attorney to work solely on their behalf and only seek payment from the party who was injured in the accident. Unfortunately, many times the injured party does not have the financial means to pay for the services of a skilled legal representation.
Experience is also one of the most important qualities that you should look for when searching for a personal injury attorney. Not only does the experience of your legal representative matter, but it is equally important for you to hire someone with a good reputation. You may want to consider a review of a personal injury lawyer’s record and/or past cases. Reviewing the opinions of those who have had experience with your potential attorney is always the best way to ensure you receive a quality service.
When hiring a personal injury lawyer, you should also consider whether or not they will ask you to sign a “contingency fee agreement.” A contingency fee agreement is a formalized agreement that details how your lawyer will be paid if you lose your case or win it. Some contingency fee agreements require the client to pay nothing if the case is lost, while others require the client to pay half of any compensation awarded to him or her. If you are working with a legal professional who will be collecting contingency fees, it is important to make sure that the agreement covers the amount of compensation you will be receiving. Many lawyers will indicate to you what percentage of the compensation will be set aside in case you lose or if you are awarded compensation that is less than what you think you deserve. However, there is no legal definition as to what percentage will be taken.
Many personal injury lawyers also work on a “no win no fee” basis, which is a much more affordable alternative to traditional pay-outs. A “no win no fee” arrangement allows the lawyer to get paid even if you do not receive any compensation. This can often save you hundreds of dollars, especially if the lawyer does not have to spend time and effort collecting payment from you. Your insurance company will still cover most expenses, including doctors’ bills and other out-of-pocket expenses. In exchange, you will agree to drop any legal claims against the insurance company.
If you need a personal injury lawyer in Woonsocket, RI, we recommend Marasco & Nesselbush. You can find their details here: