How Much Does it Cost to Hire a Personal Injury Lawyer?
A question very, very often asked as well is “What does it cost me if I hire you, the law firm, to pursue a claim against whoever?” And by the way, not only “What does it cost me?” but “How am I ever going to fund this lawsuit? How am I going to pay you, the attorney?” What happens in every case is the defendants have an insurance company in their funds to defend a case are nearly limitless, so the question posed by a potential client of the firm, “How am I ever going to fund this?” is a very astute question. Plaintiff’s law firms take on plaintiff’s cases on a contingency fee basis. What does that mean? That means that there’s an agreement that’s signed that authorizes the law firm to represent you. That’s the number one thing it does because obviously a law firm cannot represent the client unless we’re authorized in writing to do so. The Florida bar and every bar that I’m aware of requires that.
The second thing that the contingency agreement does is it sets forth a fee agreement. It says the law firm only requires a fee, which is a certain percentage of a gross recovery in the event there is a recover. In other words, no recovery, no fee. Of course, that’s a worse case scenario, but the third thing the contingency agreement does is ti spells out that in many, many instances, particularly if clients are not in the position to assist with their own file, the firm will advance cost. We have advance cost of $100,000. What are costs? Well, the core reporter when he attends and takes a videotape deposition. When a lawyer of the firm flies to California to take that position of witnesses in California. When anything that costs a third party vender, anybody who helps — the videographer of the court, as I mentioned. Anyway, when those costs — they expect to be payed. Who’s going to pay those? Firms such as plaintiff’s injury law firms advance those costs. Costs can be $100,000, $50,000 in one case, $100,000 in another case. We’ve had a case where because we felt so strongly about the case the actual advance cost was just short of $1 million. We understand those are costs that can’t be advance by individuals, and that’s why it’s very, very important to pick a law firm who can do exactly that on your behalf, as opposed to settling early for a lesser sum. You need to let the other side know that the firm they’ve hired, the firm you’ve hired on your behalf, is well financed to pursue your claim until the end.