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Before entering into a consultation, it is best to understand the cost of a Maryland truck accident lawyer. When you are in an accident, being unsure of your next steps is understandable. Even if you are typically a calm person, you likely will get a big shot of adrenaline after a truck accident. While helpful in a life-or-death situation, it is less valuable when you need your wits about you. Collecting the proper evidence at the accident scene is vital for your case. Thus, speaking to an attorney as soon as possible so you know what evidence to collect, information to gather, and pictures to take on your phone is critical to protect your legal right to compensation.
But what if you are concerned that a personal injury attorney is too expensive? It is reasonable to be cautious before entering any legal agreement. While there are many benefits to retaining legal counsel, there is a cost involved you should be aware of.
First, there is the legal fee. This is the fee paid to the attorney from the recovery. This is the only fee that the personal injury law firm keeps. However, there are other costs you may be responsible for. These may include court fees, costs for expert witnesses, and other miscellaneous expenses that can accumulate. We will discuss these additional costs in greater detail below. We also discuss the types of fee arrangements you may encounter, the fee structure that the Bar Association recommends, and how to evaluate whether it is worth retaining a law firm. Hiring a lawyer has advantages and disadvantages. However, it is worth noting that, on average, you recover about four times more after legal fees if you hire a personal injury lawyer. There are several reasons for this.
Of course, there are countless nuances in Maryland injury law that a skilled lawyer can exploit and leverage for your benefit. Additionally, a Maryland truck accident attorney has the threat and leverage of litigation. Meanwhile, a layperson may have little leverage in a settlement negotiation. The only true leverage a layperson wields is that they may later hire an attorney.
You will encounter several types of fee arrangements when researching the cost of an attorney. But the typical cost of a Maryland truck accident lawyer is according to a contingency fee agreement.
This is where a lawyer’s fee is contingent on whether we are successful. In general, if we are unsuccessful, there is no fee. If we successfully resolve your case via settlement, the typical fee is one-third of the gross recovery. If we file suit against the defendant and successfully resolve your case, the standard fee is 40% of the gross recovery. There are a few conventional reasons why the fee increases if a lawsuit is filed. First, there is an increased workload. Filing the complaint, serving the summons, going through discovery, depositions, etc., require significantly more of the attorney’s time than settling the case. Additionally, a trial is uncertain, whereas a settlement is controlled. Thus, the higher fee compensates for the greater risk.
Moreover, lawsuits take far longer to pursue. Not only does it take upwards of a year to get to trial in Maryland for a truck accident case, but there can be appeals that drag the case out even longer.
There are other options you may encounter when researching a lawyer’s cost. Although, these are rare in the realm of personal injury. The most common alternative is the hourly rate. This is when you pay a lawyer based on their time working on your case. Generally, lawyers who bill hourly bill in increments of six minutes. The downside to paying a lawyer hourly is it is less affordable. Typically, the more affordable attorneys who charge less do not do as good of a job. Of course, there are exceptions. However, the best attorneys in their field tend to charge the most. That differs from the cost of a Maryland truck accident lawyer, who will likely charge on a contingent basis.
Other attorneys may charge a flat rate. This covers the entire handling of a specific task.
For the cost of a Maryland truck accident lawyer, the only factor that affects lawyer fees is the size of the recovery. The larger the recovery, the larger the legal fee. Of course, if we must file a lawsuit against the defendant, the cost will also increase, as discussed above. For most legal fields, a set of factors directly influences legal fees. Those factors may include the case’s complexity, the lawyer’s experience, skill, and reputation, the duration of the case, and the attorney’s available time. Fortunately, while you should consider these factors while researching the right lawyer for you, they should not affect the cost of a Maryland truck accident lawyer.
A word of caution: some truck accident lawyers offer to reduce their fees to win your business. From our perspective, this is an unethical practice. While you may be tempted to go with the less expensive attorney, ask yourself whether you want to retain counsel who would practice this behavior.
In almost every retainer agreement for a personal injury law firm, there is a part that discusses additional costs without describing in detail what these costs may be. First, they are costs and not part of the legal fee. This means the law firm does not consider it revenue but rather the costs of handling your case. These costs can include court fees, filing fees, costs for expert witnesses, private investigators, postage, police report fees, the cost of obtaining your medical records, faxes, etc. In almost all instances, you would be responsible for these costs if you did not have an attorney handling your case. Thus, while they are additional costs to consider, they should not necessarily be a barrier to retaining legal counsel and giving yourself the best chance to recover compensation for your injuries.
The key to researching the cost of a Maryland truck accident lawyer is to ask questions. Below is a list of questions that can expose what you should expect upon retaining a truck accident attorney.
Having a conversation with a truck accident attorney in Maryland is a critical step toward protecting your rights and understanding the cost of a Maryland truck accident lawyer.
Contact our office today for a free consultation and case evaluation at (202) 331-7227.
Copyright © 2024 Gelb & Gelb, P.C. All rights reserved.