When you suffer a personal injury, the last thing you want to worry about is the cost of hiring a personal injury lawyer. Fortunately, many Minneapolis personal injury lawyers operate on a contingency fee basis.
Understanding the most common payment options is essential when pursuing your case and considering your options.
Common Fee Arrangements for Lawyers
Personal injury lawyers can be paid through different methods. These generally vary based on the type of case and client needs.
The following are payment arrangements that you may encounter.
- Contingency Fee: This is the most common payment method in personal injury cases. Lawyers working on contingency receive a percentage of your settlement or final court award.
- Hourly Rate: This is another payment method. Lawyers charge for each hour or part of an hour they work on your case. Hourly rates vary widely based on the lawyer’s experience and location, and the complexity of your case.
- Flat Fee: Lawyers may charge a flat fee in some instances. This is a set amount for the entire case, which gives you a clear, upfront cost. This is less common for personal injury cases.
- Retainer Fee: A retainer is an upfront fee that clients pay to retain a lawyer’s services. The lawyer then deducts their hourly rate or out-of-pocket costs from this retainer as they work on your case. If the retainer runs out, you may need to pay additional fees.
The Minnesota Rules of Professional Conduct regulate how lawyers charge and get paid for legal services. In personal injury matters, the contingency fee is the most common. Before hiring a lawyer, be sure to understand the arrangement that will apply to your case.
What Is the Contingency Fee?
The contingency fee is a payment arrangement wherein the lawyer’s fees are contingent upon successfully resolving your case. Your lawyer only gets paid if they win your case or obtain a settlement. The fee is typically a percentage of the settlement amount or court award. This makes the contingency fee model particularly client-friendly, as it requires no initial expense.
The “no win, no fee” principle is a cornerstone of the contingency fee model. If your lawyer is unsuccessful in securing a settlement or court award, you owe nothing in attorney fees. This lowers your financial risk.
What Are the Advantages of the Contingency Fee in Minneapolis, MN?
The primary advantage of the contingency fee model is that it eliminates upfront costs for clients. It also incentivizes lawyers to work diligently on your case as their payment depends on its success. Additionally, it ensures that legal services are accessible to anyone injured, even those who may otherwise be unable to afford a lawyer. This promotes justice and equity within the legal system.
What Expenses Am I Responsible for Under a Contingency Fee?
When a client hires a lawyer on a contingency fee basis, different costs might be incurred in addition to the lawyer’s fee. These costs relate to the expenses of preparing and presenting your case.
Here are some common costs you may be responsible for:
- Court filing fees
- Discovery costs for gathering evidence and obtaining records
- Expert witness fees
- Administrative expenses for copying, postage, or messenger services
- Travel expenses
- Mediation and arbitration fees
- Post-judgment costs
It is important to understand that while the lawyer’s fee is contingent on winning your case, these additional costs may not be. You may be responsible for paying these expenses regardless of your case’s outcome. Be sure to discuss how these expenses will be handled at the outset of the attorney-client relationship.
Consult a Personal Injury Lawyer in Minneapolis, MN
The contingency fee model offers a feasible and fair way for injured people in Minneapolis to hire a lawyer without the burden of legal fees. Additionally, it aligns the lawyer’s interests with the client’s, ensuring a dedicated approach to each case. With the right lawyer, you can navigate the legal challenges of your personal injury case with confidence and security.
Contact the Minnesota Personal Injury Law Firm of Hall Law Personal Injury Attorneys For Help Today
For more information, please contact an experienced personal injury lawyer at Hall Law Personal Injury Attorneys to schedule a free initial consultation today. We have three convenient locations in Minnesota, including Minneapolis, St. Cloud, and Edina.
We proudly serve Hennepin County, Stearns County, and its surrounding areas:
Hall Law Personal Injury Attorneys – Minneapolis
825 Nicollet Mall, Suite 615
Minneapolis, MN 55402
(800) 292-1979
Hall Law Personal Injury Attorneys – St. Cloud
1010 W St Germain St # 320
St Cloud, MN 56301
(320) 255-1000
Hall Law Personal Injury Attorneys – Edina
5200 Willson Rd #203
Edina, MN 55424
(952) 697-5560
