Having an attorney handle your personal injury case can make a significant difference in the amount of money you are awarded for your damages. A skilled New York City car accident lawyer can help you navigate the process and collect the compensation you deserve.
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Many people have a hard time figuring out how much an attorney will charge for their services. That’s why it’s important to understand the different fee structures. Understanding what type of fee structure your lawyer will be using can help you choose a lawyer who will be best suited for your case.
Flat fee basis: This is a common way for attorneys to charge their clients. It’s not usually used by accident lawyers, but it could be an option if they believe that your case can be resolved in a short period of time.
Hourly fees: This is another popular method that attorneys use to charge their clients. It can be a good choice if you have an easy-to-understand case and a lawyer who knows the law well.
These fees are usually referred to as “hourly rates” or “retainers.” As an injured person, you may have lost income from missed work, so you need to know how much your legal team will be charging.
Typically, these fees are lower than what most insurance companies offer to pay you. That’s because insurance companies are often afraid of what a lawsuit might do to their bottom line, so they don’t want to pay you too much.
In addition to the above, you can also expect your lawyer to take out their own costs and expenses in the form of legal fees, filing fees, and court costs. Depending on the agreement between you and your lawyer, these expenses might be deducted before or after your contingency fee is calculated.
For example, if your lawyer is negotiating a settlement for $100,000, your contract might state that your lawyer will receive $10,000 for their costs and expenses, while you would be receiving $60,000 as your final recovery.
Non-economic Damages: This is an area that is harder to calculate because pain affects individuals differently and is more subjective. Your NYC car accident lawyer will use their knowledge of how you have been impacted by your injuries and your pain to calculate the value of these non-economic damages.
Recovering from a car accident can be a difficult and stressful time. You might have medical bills that are piling up, a lot of paperwork, and a fear that the other party’s insurance company will try to offer you an unfair settlement.
Your lawyer can help you with these tasks, so you can focus on the things that matter most to you. They can also help you recover the full amounts that you’re owed for your lost wages, medical bills, and other expenses from the accident.