Most personal injury lawyers in Virginia handle cases on a contingency fee basis. This means a personal injury lawyer typically costs nothing upfront, making representation accessible to anyone regardless of their current financial situation.
Many injured victims hesitate to hire a lawyer because they have concerns about the cost. Some believe it is impossible to have an attorney represent them because they do not have money for a retainer or hourly fees. However, this is rarely necessary when hiring a Virginia personal injury lawyer.
What Is a Contingency Fee?
Contingency fees are contingent on the outcome of the case. Under this type of fee arrangement, the lawyer only gets paid when they win the case and recover compensation for you. If you do not get paid, they will not get paid.
Contingency fee arrangements generally do not require you to pay any upfront costs or fees. You may have worked with lawyers practicing other areas of law before who asked you to pay a retainer and charged hourly fees as they worked on your case. This does not happen in contingency fee agreements. All fees and costs come from the money recovered in the case.
There is no way to know exactly how much your attorney will cost before your case closes. This is because your attorney receives a percentage of the final settlement or court award. This provides an incentive for the attorney to fight aggressively for the maximum compensation available based on your case facts.
How Do Contingency Fees Work?
Understanding how contingency fees work should put you at ease about working with a personal injury attorney after a negligence accident. These arrangements may seem too good to be true when you need help but do not have the money to pay a lawyer right now.
These agreements work like this:
- You sign an agreement with the law firm to represent you.
- The law firm pays for most (if not all) of the case expenses, including the cost of investigations, filing fees, and hiring expert witnesses.
- The lawyer manages the case and builds a compelling argument for fair compensation.
If the lawyer negotiates a fair settlement or wins a court award, they gets the agreed-on percentage of the payout. If the lawyer does not recover compensation, you usually do not owe anything. In some cases, you could be responsible for certain administrative costs, such as filing fees.
What Are the Benefits of a Contingency Fee Arrangement?
When a personal injury lawyer works on a contingency fee basis, there are a number of benefits for the client. If you choose to hire an attorney to manage your case, some ways you will benefit from them working based on contingency include:
- You do not have to take any financial risks. You only pay if they recover compensation for you, so you cannot end up in a worse financial situation than you are now. You can only benefit from their representation.
- The lawyer is highly motivated to win. Your lawyer has a strong incentive to fight for maximum compensation in your case since they receives a percentage of the total payout. The more they recover for you, the more they earn.
- You have access to legal representation. With contingency fee agreements, anyone can afford to hire a lawyer, regardless of their current financial standing. This is important since many accident victims are out of work and may be struggling financially.
- The attorney covers legal costs upfront. You do not have to worry about how to pay to investigate your case, cover court costs, or pay for copies of important records. Your lawyer will typically pay all these costs and others, such as hiring medical experts to help understand your prognosis and future care needs. If your attorney plans to charge you for these, you will know before you sign the agreement.
How Hiring a Personal Injury Lawyer Could Actually Save You Money
For many accident victims, hiring a personal injury lawyer could save them money. There are several ways that clients benefit financially from working with a law firm to navigate the personal injury claims process. Some examples include:
They Will Demand Compensation for All Their Damages
Many accident victims who handle their cases on their own leave thousands of dollars on the table because they are unaware of what exactly they can recover. An attorney will investigate your case and ensure they have included all of your economic and non-economic damages.
They Avoid Costly Mistakes
Many victims simply do not know enough about personal injury law and the insurance claims process to avoid significant mistakes. They may undervalue their claim and accept a lowball offer or miss a key deadline. Under Va. Code § 8.01-243, victims usually only have two years to sue the liable party, for example. Missing this deadline could jeopardize your financial recovery.
The Lawyer Handles the Insurance Companies
When you hire a lawyer, they will manage your case from start to finish. This includes handling all communication and negotiations with the insurance companies. This not only ensures you do not have to take their calls and emails while you heal, but it also protects your rights. Insurance companies often try to take advantage of unrepresented injury victims by twisting their words or making lowball offers.
Discuss Your Virginia Personal Injury Accident Case With Our Team Today
Personal injury lawyers who work based on contingency fees make it possible to hire legal representation to manage your case even if you do not have the money to do so. Working with an attorney can protect your rights and ensure you have uncovered all your damages.
If you were hurt in Virginia, our team is here to help. You can talk to a team member from the Parrish Law Firm, PLLC, about your case for free. Learn how our Virginia personal injury lawyer can help you get justice. We offer a FREE claim review for victims and their families. Call today.
Call or Text 571-229-1800 or Complete a Free Case Evaluation form