Many people know that personal injury lawyers in Chicago and across Illinois take cases on a contingency fee arrangement. The most common contingency fee arrangement, which is a contract between you and your lawyer, only allows for a lawyer to receive payment on the case if the lawyer recovers money for you through a settlement or a judgment after winning at trial. Some lawyers use a graduated fee schedule, meaning that the lawyer will take a more significant percentage of winnings depending on how much work goes into the case. In other words, the lawyer’s fee will be lower if the case settles without going to court, but if the case must go to trial, then the attorney could take a more significant amount. This arrangement must be clearly outlined in writing and appearing in plain language in a document which you and your lawyer must sign.
Many law firms will take a case on a standard one-third fee. In other words, your lawyer will receive one-third of whatever you win as payment for his or her services. However, you do not pay anything if you lose your case. Thus, the contingency is whether the lawyer can collect a settlement or judgment for his or her client.
This arrangement works out best for both the injured party and the lawyer in a personal injury case. The injured victim benefits because she or he has no obligation to pay any money out-of-pocket for a lawyer. Of course, after a serious accident, the victim most likely will struggle to pay his or her monthly bills, let alone paying the added cost for an attorney’s services. The attorney benefits because the harder the lawyer works for the client, then the client may receive a larger settlement.
Trying to haggle with an insurance company without a lawyer is not the way to make more money from a settlement. Insurance companies will undercut your claim while making you believe you are getting a good deal when in reality, a lawyer could get you thousands more because a Chicago personal injury lawyer knows how the game is played.
INJURED? CALL STEIN SHULMAN, LLC FOR YOUR INSTANT CASE ANALYSIS
Stein & Shulman, LLC has over 45 years of combined experienced in Illinois Auto Accident Injury Law. You can receive a free and instant case review by calling our office at (312) 422-0506.