06 Feb How Do Accident Attorneys Get Paid in New Orleans, LA
Accident attorneys in New Orleans, Louisiana, work in a specific area of the law, representing victims of accidents in court, and helping them earn compensation either through a court verdict or through the settlement with the defendant.
Many hesitate to file an injury lawsuit as they fear they may have to shell out lawyer’s fee, though they have not obtained even a single penny as compensation. Naturally, they don’t want to pay through their own funds.
Fee on contingency basis
This fear of yours is uncalled for as most personal injury lawyers, today are willing to assist you on contingency basis i.e. you need not pay anything unless you get a favorable verdict from the court. Your New Orleans personal injury attorney will take its pre-determined share from the amount received from any insurance settlement or jury verdict. With competent and reputable attorneys, you can be sure of a fee that is reasonable based on the amount of time, effort and financial risk they undertake.
Charges on hourly basis
Some New Orleans injury lawyers may charge their clients on hourly basis as well. In consultation period, they will make it clear what they partake as hourly fee.
What is average contingency fee
The accident attorneys in New Orleans, Louisiana typically charge between 25-40 percent as per contingency fee agreement. 33.33 per cent is pretty standard among lawyers. An example will help understand how contingency fee works. If the court verdict is $60,000 in a truck accident case, the attorney will get a little more than $20,000 for the deal.
When contingency fee may be lower
What the lawyer charges as contingency fee also depends on whether or not the defendant has responded your complaint in court. If the case goes for a settlement before any reply to your court complaint, the contingency fee will be quite low.
Let us stretch on the same example to understand it better. Suppose you sent a demand document to the defendant and quickly reached an agreement for $60,000. Usually, the personal injury attorney in New Orleans would have received $20,000 as contingency fee. However, in this case, the lawyer may take home 25% of the settlement amount that turns out to be $15,000.
Reviewing the contract
Discuss the contingency fee and other details regarding the amount charged by your attorney and take out time for reviewing the contract. In case you are not able to make out what the contract means, ask your attorney to explain the terms.
Various associated costs
When you go filing a lawsuit for injury compensation in Louisiana, you incur expenses like court filing fees, costs of obtaining medical records and police reports, cost of serving summonses and subpoenas, expert witness fees, and reporter fees. Have a discussion with your New Orleans injury lawyer whether you will be responsible for these expenses upfront.
Some attorneys will request their clients to pay the fees before they proceed in the case. If your finances are not strong enough to pay for these expenses, discuss it with the law firm beforehand to avoid inconvenience later.
No Win No Pay
The contingency clause translates into No Win No Pay for you. If the lawyer is unable to win the case for you, there is no need to pay as well.
Also inquire whether the law firm is offering you Free Consultation. This is a welcome offer as it saves you those valuable dollars you would have otherwise spent just for an initial discussion. Just make sure you have a thorough discussion with the personal injury lawyer in New Orleans to clear all your doubts.