Considering that traffic accidents in the United States are estimated to cost over $871 billion each year, the financial impact is staggering. Slip and fall accidents contribute an additional $70 billion annually. Workplace accidents alone add over $250 billion to these totals.
Given these statistics, it may come as no surprise that financial considerations are consistently a top concern for clients in need of personal injury services. The disruption to victims’ physical health, personal property, and ability to work creates significant hardships on an individual level. Combined, these unique cases result in shockingly vast numbers when tallied together.
One of the first questions we hear from potential clients is “how do lawyers charge and much does a lawyer cost?” Many people worry that they cannot afford a lawyer, particularly after they are already being presented with the high costs of healthcare, car repairs, and other bills that immediately follow personal injury accidents. Luckily however, among the plethora of legal fee payment structures that exist, Thompson Law utilizes the contingency fee payment method.
Especially helpful in times of crisis, contingency fee arrangements provide a way for clients to access legal services without upfront costs. Under this payment method, legal fees are deferred until the end of a settlement or case. These fees are only owed if the outcome is successful, offering much-needed financial flexibility during a difficult time.
This payment structure helps make specialized personal injury advice attainable for many individuals who might otherwise forgo legal assistance. One of the most significant questions clients ask when considering representation is, “How do lawyers charge, and what options are available to me?”
Read on to learn more about the ins and outs of legal payment practices. By understanding these arrangements, you can determine what may be the best fit for you and your family.
Different fee structures exist in the legal world to accommodate the financial practices of various clients. For instance, extremely wealthy corporations often use a retainer structure for their legal counsel. This approach provides them with immediate and ongoing access to legal services while ensuring consistent payment to the law firm.
On the other hand, private individuals with smaller, one-time legal matters may prefer attorneys who bill on an hourly or flat fee basis. This structure allows for better budgeting and cost control in handling more predictable or straightforward legal issues.
Attorneys in Texas are bound by the Texas Disciplinary Rules of Professional Conduct to clearly disclose how their fees are calculated to their clients. These rules are designed to ensure that clients are well-informed about the costs of legal services. Properly communicating their fee structures is an essential aspect of legal ethics, also known as professional responsibility. Lawyers pledge to uphold these principles when they take their oath before practicing law.
Below is a summary of the most common types of legal fees to help answer the question “How do lawyers charge?”:
A contingency fee payment structure is the most common answer to “How do lawyers charge” in personal injury law. Cases like car, truck, and bus accidents; workplace accidents, like slip and fall or crush injuries; wrongful death or other damage caused by error and negligence often require immediate legal counsel and assistance. This help is needed at a time when victims are already dealing with a lot of pain and amassing bills from the accident.
A contingency fee payment plan allows you to pay your attorney a certain percentage of the total amount won only after your case is successfully resolved. Often referred to in advertised communications as “No Fee if No Recovery,” this payment plan helps you avoid any out-of-pocket or large, upfront legal expenses that you would have incurred during the claim process. Many clients specifically choose this beneficial fee agreement so that they are not adding legal bills on top of other expenses while they are hurt and out of work.
The fee percentage is generally based on the anticipated amount of work the attorney will put into your case. Fee percentages also vary from attorney to attorney, but in personal injury law they are typically 33.33% to 40%. The set percentage is communicated at the initiation of the attorney-client relationship, and it is locked in when you enter into a contractual agreement for the attorney’s services.
Some firms may advertise lower attorneys’ fees, but watch out as they often recoup the difference by surprising clients at the end of the case with a number of “additional” fees. It is strongly encouraged to ask detailed questions about any additional or “hidden” fees up front before signing an agreement. Thompson Law prides itself on a very straightforward and fair fee structure that enables our clients to know exactly how fees will be assessed at the end of their case.
At the conclusion of your settlement or litigation, disbursement of the funds occurs. This is where it is important to understand fees vs. costs, the payout clauses of your contract, and the details of the payment structure to which you agreed. For example, if your claim goes to court, fees typically increase. A fairly standard increase is about 5% more than for a settlement process only. Additional costs may be due to special legal filings, time in hearings and depositions, involvement of expert witnesses, and general preparation of the strongest case possible.
With reputable law firms like Thompson Law, your case will never move forward in a manner that accrues these increases in fees and costs without your consent. Thompson Law and other similarly ethical firms take pride in completely sharing in your case’s success. We do not make a dime unless and until you do. For further details on our offerings and policies, please feel free to reach out. Our legal team is always available to answer your questions and help you.
Understanding that the days and months after a serious personal injury accident can be expensive and tumultuous, injury attorneys offer additional financial resources to their clients. Apart from operating their own law firms on contingency, there are some steps they can take to help with other bills and fees that result from your accident. A few examples include:
It is extremely important to completely understand the payment structure that your personal injury attorney is offering, including any additional fees or costs, before entering into any agreement for services. Once you are under contract, you have agreed to the terms and conditions that you signed into effect. If you are unclear or have any questions about the details of payment in amount, processing, or other rules and restrictions, please always ask for explanation.
Attorneys have an ethical obligation to explain their pricing; but before signing up for legal services, you are your own number one advocate. Take care of yourself and your rights by ensuring you are clear and comfortable in the arrangement you choose.
If you have been injured in an automobile, workplace, or other type of accident and think you are eligible for a personal injury lawsuit, reach out to Thompson Law’s accident lawyers in San Antonio, our injury lawyers in Dallas, or Fort Worth personal injury lawyers right away. Our legal team is standing by 24/7/365 to take your call, answer your questions, and get to work on your case. You may be asking yourself: Can I talk to an attorney for free? How do lawyers charge for personal injury claims?
When you call Thompson Law toll free at 1-800-LION-LAW, you’ll receive a free legal consultation and pay $0 in legal fees unless we win for you. And if you’re asking: How do lawyers charge and how much does it cost to ask a lawyer a question? The answer is “nothing” when you call Thompson Law at (214) 444-4444 in Dallas, (817) 444-4444 in Fort Worth, or toll free at 1-800-LION-LAW. And if we cannot help you, we’ll try to find an attorney that is able to help.
Thompson Law charges NO FEES unless we obtain a settlement for your case. We have put over $1.9 billion in cash settlements into our clients’ pockets.
Contact us today for a free, no obligation consultation to discuss your accident, get answers to your questions, and understand your legal options. State law limits the time you have to file a claim after an injury accident, so call today.
