Anyone who becomes injured in an accident should have access to legal services. It is for this reason many lawyers work on contingency fees.
Accidents happen every day in Freehold, and they have the potential to be devastating for accident victims. After an accident, injured individuals can hold negligent parties liable for paying damages that can help offset the financial cost of their accident. However, accident victims often worry that they cannot afford a lawyer. When hiring a lawyer who works on a contingency fee basis, there is no need for concern.
What are Contingency Fees?
Lawyers that work on a contingency fee basis do not charge any upfront fees to the client. Instead, they only charge the client if they win the case. Once damages are awarded by the court or a settlement is reached with the insurance company, the accident victim then pays the lawyer a percentage of the compensation awarded. The New Jersey Court Rule 1:27-7 caps the contingency fees a lawyer can charge at:
- 3% on the first $750,000,
- 30% on the second $750,000,
- 25% on the third $750,000, and
- 20% on the fourth $750,000
For example, if an accident victim was awarded $800,000 in damages, the lawyer could charge $250,000 on the first $750,000 and 30% of the remaining $50,000, which is $15,000. In total, the lawyer would be paid $265,000 from the accident victim’s $800,000 award.
Benefits of Contingency Fees
Contingency fees have many benefits for accident victims, including:
- Level the playing field: Accident victims cannot always afford to pay a lawyer upfront fees. The negligent party and insurance companies have lawyers working for them. By working with a lawyer who works on contingency fees, accident victims can level the playing field and hire the experienced legal counsel they need.
- A motivated lawyer: Contingency fees require the lawyer to win a case before they are paid for their work. This gives the lawyer strong motivation to win.
- Ensures claims are strong: Lawyers want to get paid for their work and so, they only want to take cases they believe are strong and that they can win. Lawyers who work on a contingency fee basis also typically provide free consultations to accident victims. During this consultation, the lawyer will review the case and will only take it if they believe it is a valid claim.
Call Our Personal Injury Lawyers in Freehold Today
If you have been hurt in an accident, do not file a claim on your own. At Lomurro Law, our Freehold personal injury lawyers have over 130 years of combined experience and we want to put that experience to work for you. We will never charge for your case unless you win and will give you the best chance of a successful outcome. Call us today at 732-414-0300 or contact us online to schedule a free initial consultation.