The judge issues a judgment directing the defendant to pay the sum the jurors granted him or when you prevail in a car crash or other personal injury case. A judgment is legally binding, so you can put a lien on the defendant’s assets in the amount of your verdict and then compel a sale of those assets to pay it if the defendant does not pay you what you are owed within an acceptable amount of time.
However, it is more possible that the defendant, or more likely, his or her insurance company, will give your attorney a check for the judgment’s entire sum. Why was the check not delivered to you directly? Because other individuals and organizations may be eligible to receive a portion of it, and because your lawyer is responsible for sharing the ruling proceeds fairly, you may click here for help!
Standard Payment Process
Your attorney deposits the check into the trust account held by his or her legal company as soon as they receive it. In addition to their firm’s running or other charges where they put the money they have earned as legal fees, all auto accident attorneys who receive money on behalf of others must have such accounts.
After that, your attorney distributes the verdict money as follows:
- Covers any unpaid medical costs and other expenses incurred as a result of your losses.
- Pays any remaining lawsuit expenses, including expert witness fees, deposition costs, judicial filing costs, etc.
- Pays for themselves the contingency charge specified in the job agreement between you and them.
- Pays you the remaining verdict amount.
Contingency payments, as opposed to hourly rates, are almost universally used by personal accident attorneys. A personal expert injury lawyer’s services can more easily be obtained through this type of charge without requiring any upfront payments from you. In place of that, your lawyer promises to hold off on getting paid until he or she successfully defends you in court, whether through a settlement or jury hearing. You offer him or her nothing in the extremely rare occurrence that he or she cannot secure recompense for you.
Every PI lawyer determines their own retainer costs. Some attorneys base their fixed fees on the time and effort they anticipate it will take to win your case, typically between 33% and 50% of the final settlement or verdict. Other attorneys adopt a two-tiered strategy, charging, for instance, 20% if the case is settled and 40% if a full-blown jury hearing is required.