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How much does it cost to hire a car accident lawyer?
Posted By Eliza Beth
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When you’ve been in an accident, choosing whether or not you should hire a car accident lawyer is a big decision. Having an accident lawyer can be the difference between receiving a large settlement or receiving only a fraction of what your case is worth.
Generally, personal injury lawyers work on what is known as a contingency fee. However, they are also compensated for some reimbursable litigation expenses that they pay on behalf of their clients.
Car accident attorney compensation structure: Generally, accident lawyers will charge a contingency fee. This means that they will receive a percentage of the settlement if they can win the case. Other methods of payment include a flat rate and a retainer fee.
A flat rate is used when you only need a lawyer to do a specific task for you, such as writing a demand letter. A retainer fee is an advance to the lawyer you give them funds upfront from which they can withdraw their share of the settlement if you win.
If you are the defendant in a personal injury case, your lawyer will most likely charge you an hourly fee. This means the lawyer will charge a set amount for each hour they work on your case. Generally, lawyers who have more experience will charge more hourly than lawyers who have less experience.
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If you’ve recently been in a car accident you may be wondering if a car accident loan is a good choice for you. With medical bills and the expenses associated with the cost of living piling up, legal funding may look like a promising prospect.
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