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The Economic Considerations for Personal Injury Cases

There is an economic consideration that must go into every new case. This is true for both the potential lawyer and the potential client. Sometimes this consideration can seem cold and callous, but it must be made. For the client, the economic question is, "Is it worth paying the potential lawyer a percentage of my recovery?" Most personal injury lawyers charge a contingency fee of 33.33% to 50%, depending on the case. Sometimes a client can handle his or her case without a lawyer and obtain compensation through settlement without having to pay a lawyer. Sometimes, however, it is not possible for someone to handle their own personal injury case without a lawyer.

But when it is, the decision must be made whether one can do better without a lawyer. For the lawyer, the economic question is, "Will I be able to get enough of a fee to justify the time and expense?" Because a personal injury lawyer's fee is a percentage of the gross recovery we obtain for our clients, there sometimes just might not be enough of a potential recovery to justify spending the time and money to make that recovery. Factors like the degree of injury, whether there is insurance coverage for the injury, and whether a cause of action exists to provide compensation for an injury, are but a few things personal injury lawyers must look at before taking a case.

It would be impossible to maintain a personal injury law practice when taking cases where there is little to no monetary compensation the lawyer can get for the client. As with every rule, there is an exception, and the economic factor is no different. For the lawyer, sometimes other factors are so compelling that the lawyer must take the case despite the potential for small economic recovery. Same for the client. Sometimes the client could just as easily obtain compensation without a lawyer, but does so anyway despite the lawyer's fees. These factors are too varied to be listed but each case has them to some degree. To learn more, you are welcome to contact our law firm.

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