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How much does it cost to hire a personal injury lawyer?

On Behalf of | Aug 25, 2023 | Injuries

Individuals in Colorado who may be in a position to file a personal injury lawsuit are often facing difficult financial circumstances. They may have been hurt in a car crash, at a dangerous property or by a defective product. They may have huge medical expenses to cover and possibly lost wages to think about as well. There either isn’t adequate insurance based on their estimated total expenses or there isn’t available insurance coverage at all to address their losses.

They recognize that negligence or misconduct on the part of a person or business opens the door to a personal injury lawsuit. However, they worry about the cost involved in seeking justice. Attorneys often charge hundreds of dollars for each hour of their time, which is far more than a person with no income and big medical bills can cover. The good news for those in need of personal injury representation in Colorado is that some attorneys offer services on a contingency fee basis.

Those with strong cases don’t always pay up front

A contingency fee arrangement is an agreement between a legal professional and a client that absolves the clients of the immediate obligation to put together a retainer. A retainer is a lump sum payment, often thousands of dollars, intended to cover a certain amount of the lawyer’s time for the legal matter. The attorney bills against the retainer and will then provide invoices when they have used all of the retainer before resolving the matter.

A contingency fee agreement means that the personal injury plaintiff hiring a lawyer does not need to pay a retainer to secure their representation. The lawyer agrees to take a fixed amount of the final settlement if the case succeeds in court. Such arrangements work well for both parties. They make it easier for those affected by the misconduct or negligence of others to access the legal system confidently.

Lawyers are often selective about the cases they take on using a contingency fee arrangement because they will have to invest time and effort before they ever get paid for their services. Clients who can negotiate a contingency fee arrangement therefore have reason to believe that there is a decent chance of success if they take their case to court.

Learning more about the different options available for those in need of legal representation may make it easier to get appropriate assistance with a personal injury matter.