Retaining a personal injury attorney following an accident injury is not like hiring lawyers for other cases. Many Louisiana lawyers charge per hour to handle court cases for clients. Personal injury attorneys typically work on contingency arrangements where you owe nothing in the event they cannot obtain any financial recovery for you. This system is actually very important to ensuring that those of modest means who are injured have legal representation for their case. However, contingency fees can also depend on the contracted conditions, as some attorneys have an additional fee.
Hybrid contingency fee agreements
Hybrid contingency fee agreements are usually two-phase charging methods that allow for an hourly fee as well as a percentage of the total financial recovery. This arrangement commonly applies in questionable cases where a defendant is largely at fault such as shared fault motor vehicle accidents when no financial recovery is available. The agreement will also include a percentage of any financial recovery in the event it is allowed by the court.
Reverse contingency fee agreements
Reverse contingency fees are based on the amount of financial recovery a defendant will not be required to pay. Some plaintiff’s attorneys file claims for extremely large amounts based on every potential problem they can find, and those cases are often settled for much less. Car accident lawsuits requesting punitive damages from a jury are a prime example. Attorneys are compensated in these agreements based on how much they save the defendant in financial liability.
Basic percentage contingency fee agreements
The most common contingency fee agreement is when the attorney states upfront a percentage they require based on the total amount of financial recovery they can obtain. These agreements also typically allow for necessary expenses in handling the case. No fee is paid until the case is settled.