Auto Accident Lawyer in Memphis, TN
Shopping around for a car accident attorney might be a good idea, but you may not want to base your decision on cost. While you do want to make the most of your case, you also want a lawyer who has your best interest in mind and will fight for you no matter what. How can you determine the final cost? You may not be able to for sure, but when shopping around you can find out how they charge.
Some Attorney Cost Basics
In most cases, car accident lawyers work on a contingency fee. This means you don’t pay them unless they win the case and obtain compensation for you. If they don’t recover compensation, they don’t get paid. Their payment generally comes out of your settlement, and ranges anywhere from 20% to 40% depending on the state in which you live. The industry standard is 33%, so you can typically plan on that.
Basic fees you can plan to pay for include expenditures for court reporters, witnesses, medical records, court filings, and similar documents. Most plaintiffs can plan on a few thousand dollars, but it could reach as high as $20,000.
Though many car accident attorneys work on a contingency fee, there may be some who work hourly. In such a case, the hourly rate could depend on experience, the current market and the success rate of the attorney. Plaintiffs can expect to pay an hourly rate of anywhere from $100-$500.
Another option is a flat fee arrangement. Many car accident lawyers don’t bill this way, but it is an option you can inquire about if you just need a small amount of work done. For example, you may need assistance in preparing a demand letter. Your attorney would charge you a flat fee to complete that task, and that would be it.
One final option to consider is a hybrid approach of retainer plus contingency. It’s basically like putting an advance on the settlement contingency fee. You’ll pay an initial amount to retain the lawyer, and when the attorney wins the case, the retainer is subtracted from the contingency fee and the remainder of the fee is paid to the lawyer.
Call the Professionals for Assistance
If you were in a car accident and are concerned with the cost of litigation, contact an auto accident lawyer in Memphis, TN for more information. There are some options out there, and although contingency fees are a common way to deal with car accident cases, there may be another arrangement that works better for you and your attorney.
Contact Darrell Castle & Associates, PLLC for their insight into personal injury claims and the cost of a car accident attorney.