Getting the case results and financial compensation you deserve after a serious car accident in Fort Collins is critical for your recovery and future. Statistically, individuals who hire car accident lawyers achieve greater settlements than those who do not. If you are concerned about the cost of hiring a lawyer, learn how contingency fees work to better understand the expenses involved.
What Are Contingency Fees?
In Fort Collins, the majority of car accident lawyers operate on a contingency fee basis. This means that attorney’s fees are charged as a percentage of the settlement or judgment award won on the client’s behalf rather than the client paying out of pocket.
With a contingency fee agreement, the client pays $0 upfront to hire the car accident lawyer. The law firm will front the costs of litigation and take on 100 percent of the financial risks involved in the case. That way, the client can have total financial peace of mind.
If the car accident case does not result in a financial award for the client, the lawyer will not charge anything for his or her services. If the attorney achieves a settlement or jury verdict, he or she will charge the fee as a percentage of the overall case outcome.
How Much Is a Contingency Fee Percentage?
Car accident lawyers in Fort Collins can decide their own percentages when they choose to operate on a contingency fee basis. The standard fee ranges from about 33 to 40 percent. The rate will depend on the individual attorney and factors related to the case, such as its complexity and whether the case has to go to trial. The more complex the case, the higher the fee may be.
Other Costs Involved in a Contingency Fee Agreement
A “no win, no fee” payment structure for a car accident lawyer does not necessarily mean your price will be $0 altogether. Specific fees involved in pursuing the claim may be passed to you as the client, depending on the circumstances. This may include the costs of printing and collecting documents, filing paperwork, and hiring an expert witness. Your attorney will go over all applicable fees with you ahead of time to prevent surprises.
Alternative Fee Structures
While a contingency fee arrangement is most common among car accident attorneys in Fort Collins, some opt for alternative fee structures. The two most popular are hourly rate and flat fee. With an hourly rate, the attorney may charge around $200 to $500 per hour for time spent working on the car accident case. With a flat fee, the client pays a fixed amount for a particular legal service.
Is the Cost of Hiring a Car Accident Lawyer in Fort Collins Worth it?
Hiring an attorney to assist you with a car accident claim in Fort Collins can be a worthwhile investment, especially if you have a difficult case. Your lawyer will have the legal knowledge to navigate the laws that apply to your case, such as Colorado’s fault and comparative fault laws, to ensure you don’t make any common mistakes.
Your lawyer will also have negotiation skills that can be put to use during communications with insurance companies. Your attorney will negotiate on your behalf to advocate for maximum financial compensation. Although most car accident cases reach settlements, hiring an attorney will also give you the power to bring your case to court in Fort Collins, if necessary.
Contact Cannon Law to request a free consultation to discuss a recent car accident with an attorney at no cost or pressure.