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Understanding the Monetary Side of Hiring a PI Attorney

When you’ve been injured in an accident or are faced with the wrongful death of a loved one, you need to seek out competent legal assistance and begin the process of hiring a PI attorney to help you get the compensation you deserve for your losses. PI stands for “personal injury.” Understanding the monetary side of hiring a PI attorney can help you in making the decision regarding your choice of representation.

Contingency Fees

One of the things you may want to consider when hiring a PI attorney is whether or not the attorney will take your case with a contingency fee. This is also known as “no win, no fee,” which is important if you don’t win your case. This fee is generally anywhere from 33.3% to 40% of the settlement or court award, depending on what stage of the case the settlement occurs.

The contingency fee is collected when the case reaches a settlement or there is a final judgment after a trial. The fee is deducted from the amount of the settlement or the amount awarded by the court if the case goes to trial. There are other costs deducted as well. Any expenses incurred during the litigation are also taken out at this time.

The Cost of Hiring a PI Attorney

Contingency fees may vary from lawyer to lawyer. Consult with your lawyer, in the beginning, to decide what percentage will be taken out of the recovery amount. A contract between you and your lawyer will be drawn up and signed. This document will state the agreed upon percentage of the recovery amount that the attorney is entitled to receive. It also documents what other expenses may be deducted from the recovery amount and how they will be deducted.

In some cases, an attorney or law firm will not charge you for expenses, such as filing fees or expenses of witnesses, if you lose your case, but this is something you must discuss first. Most often you will be responsible for these costs even if you lose the case.

The Settlement Check

Usually, the lawyer will receive the settlement check and not the client. This is particularly true with contingency fee cases. In this way, the lawyer is assured of getting paid from the settlement. You will be contacted when the check arrives. Your attorney will explain to you the deductions that will be made from the amount. Expenses and costs should be in line with those agreed upon at the outset.

Occasionally a client will not agree with the amount of some deductions. These disputed amounts are then placed in a trust account until a resolution can be reached. If you are disputing some of the costs incurred, that money should be set aside and you should receive the remainder of the check.

When you’re hiring a PI attorney, you want one who is upstanding, has impeccable ethics, and the experience and track record to indicate that you will be well represented. This is what you will find in the attorneys at the law office of Frohlich, Gordon & Beason, P.A. We are the attorneys who care and we provide each of our clients with personalized, compassionate service with the attention to detail that you will appreciate. If you live in or around the Port Charlotte, Florida, area, give us a call for more information.

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