It’s important that you don’t procrastinate if you’ve been injured in an accident. Most states have a statute of limitations on personal injury suits. Contact a lawyer at your earliest convenience.
If you’ve been injured in a car accident, a slip and fall accident, by a defective product, or by some other mishap, you’re facing substantial medical expenses and lost wages. You need to be compensated in order to get your life back in order. Depending on the type of accident, you may have already been approached by the insurance company with a fast offer. Before you accept any money from an insurance claims adjuster you know you should talk to a lawyer to make sure that you’re getting a fair deal, but how do you afford an attorney?
Personal Injury Lawyers Don’t Charge Retainers
The good news is that you won’t have to come up with lawyer fees out of pocket. Personal injury lawyers in Colorado and elsewhere work on a contingency basis, which means that they only get paid if they win or successfully settle your case. If money is tight, this is very welcome news. But is it really a good idea.
Pros and Cons of Using a Personal Injury Attorney
There are a lot of benefits to using a personal injury lawyer to negotiate your accident injury case, but there are a few negatives as well. We’re going to break those down for you.
Pros
- The settlement or award you receive with a personal injury lawyer is usually much larger than the amount you would receive in an initial settlement offer from an insurance company.
- Your personal injury lawyer is a buffer between the insurance company, creditors, etc.
- A personal injury lawyer can connect you with the right doctors for your type of injury and they can negotiate your fees with them.
- Lawyers know how to calculate both economic and non-economic expenses.
- An attorney has the resources to depose witnesses, subpoena records, and call upon experts to strengthen your case.
Cons
- Negotiating through attorneys often takes more time, particularly if you have to litigate your case.
- Your attorney will be taking a portion of your award or settlement. However, this is usually larger than you would be able to negotiate on your own.
How are contingency fees set?
In most states, the bar association determines what an attorney can charge for contingency fees. These rates are often tiered depending on the amount of the settlement, whether the attorney has to file motions, and whether the case is litigated or settled out of court. These fees vary from state to state. In the state of Colorado, there aren’t fixed percentages like in other states. The Colorado Bar Association merely states that the fees must be “fair and reasonable.” Other states have more structure. Before you commit to a personal injury lawyer, you should ask what they charge for contingency fees for personal injury cases. You should also check your prospective attorney’s name against the state bar registry.
It’s important that you don’t procrastinate if you’ve been injured in an accident. Most states have a statute of limitations on personal injury suits. Contact a lawyer at your earliest convenience.
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