How do contingency fees work?
Although insurance companies and large corporations can afford to pay their
lawyers $250 to $700 per hour, most people cannot—especially if
they are facing hefty medical bills and time away from work. Biren Law
Group believes that accident victims should be able to bring their claim
on fair footing, even if they can’t afford to pay hourly attorney’s
fees. This is why we often accept cases on a contingency fee basis.
Rather than charging an hourly rate, our firm will only take a fee if we
are successful in recovering compensation on your behalf. Simply put,
you don’t pay unless we win your case. If we win your case, our
fee will come as a percentage of your recovery. If no recovery is made,
you will not have to pay anything for the legal services rendered by our
firm. Either way, you will not be charged a fee upfront or out-of-pocket.
What is your contingency fee rate?
At Biren Law Group, we do not have a set contingency fee rate. The fee
will often depend on the type of personal injury case, the complexity
of the case, the stage of litigation in which we were contacted, and several
other factors. Some cases, like medical malpractice, have a statutory
fee schedule. Generally speaking, however, our fee will range from 33.33%
to 45% for more complex cases that are set for trial.
Will I have to pay litigation costs?
Litigation is expensive. Investigating the case, copying documents, paying
witness fees, paying transcript fees, retaining expert witnesses, preparing
exhibits, and paying jury fees will all add to the overall cost of taking
a case to trial. Every personal injury case is different, so there is
no way to estimate just how much these costs will total in advance; however,
the earlier the case is resolved, the less it is going to cost you.
Biren Law Group works hard to keep litigation costs in proportion to the
anticipated recovery. In most personal injury cases, we will advance the
costs for the client. Since we often accept cases on a contingency fee
basis, the client would not be required to pay these advanced costs if
a recovery is not made on their behalf. If a recovery is made, however,
they will need to repay the costs from his or her share of the recovery.
How much is my case worth?
Every case is different, which means that liability is never the same in
any two cases. Even if two people have similar injuries, they are never
exactly the same, nor is the effect of the injuries on them. That being
said, there is no set formula for determining the value of a case. Several
different factors will be considered, including:
- The nature and extent of the victim’s damages
- The jurisdiction in which the case is pending
- The strength of the evidence establishing liability
At Biren Law Group, it is our policy that we will not provide a valuation
of a client’s or prospective client’s case until we have had
the opportunity to review all of the relevant factors. This usually means
that the value of a case cannot be determined until well after we have
become involved in the case—giving us the opportunity to accumulate
all of the information necessary to make an appropriate and educated valuation.
WARNING: beware of any lawyer who places a value on your case based on
partial information. An honest attorney will not make empty promises.
Should I settle my case or take it to trial?
You should know that 90% of all personal injury cases are settled long
before trial. Both sides often realize that there is a chance they could
lose at trial, making them more willing to compromise. In almost every
case, settling means that you accept less than the potential recovery
you could have made at trial – had everything gone perfectly. On
the other hand, it guarantees that you will recover some level of compensation.
If you are guaranteed to recover a substantial percentage of the potential
recovery, it is recommended that you settle. However, the only time you
will receive a fair settlement is if the other side knows that your attorney
is willing and prepared to take your case to trial. In every case, you
will have ample time to engage in settlement negotiations. Biren Law Group
has the experience to know when we should start negotiations.
When a settlement offer is made, you need to compare it to what you might
recover at trial. Our firm will spell out all of the information you need
to evaluate a settlement offer:
- How much will you receive of that settlement, minus costs and fees?
- If you reject the offer, it is likely that a better offer will be made?
- If you reject the offer, do you have a good chance of winning at trial?
Still have questions?
Contact Biren Law Group today to set up a free consultation.