You can seek compensation if you were injured in a car accident, a slip and fall, or another type of accident. To recover compensation through a personal injury claim in Lakewood, CO, you must show that the at-fault party was negligent in causing your accident or injury.  This compensation may cover medical expenses, lost wages, and other unexpected costs.

The legal process can be complicated, but an experienced Lakewood personal injury lawyer can help. Fortunately, most personal injury lawyers charge a contingency fee, so there are no upfront costs to hire an attorney. 

Contingency Fee

Continue reading to learn more about how contingency fees work, and schedule a free consultation with a Lakewood personal injury attorney to learn more about fee arrangements during a free consultation.

What Is a Contingency Fee?

What Is a Contingency Fee?

A contingency fee is charged at the end of a case if the attorney successfully recovers compensation for the client. The attorney does not get paid unless the client does—their fee is contingent upon the client recovering compensation. 

A contingency fee is usually a percentage of the client’s overall settlement award. A contingency fee may range from 30% to 40%.  

Contingency fees have several benefits. First, because they are collected at the end of the case, you can hire an attorney without paying any upfront fees. This allows anyone to obtain representation, regardless of their financial circumstances.

Second, because they are a percentage of your ultimate settlement amount, you’ll never be stuck with attorneys’ fees you can’t pay.

Finally, you can trust that your attorney’s interests are aligned with yours since they only get paid if you do.

What Damages Are Available in a Personal Injury Case?

Contingency fees are usually based on a percentage of the damages awarded in a personal injury case. But what damages are available in these cases?

Damages in personal injury cases can be divided into two categories: economic damages and non-economic damages

Economic Damages

Economic damages are the financial costs of an accident or injury, such as medical expenses, lost wages, property damage, and out-of-pocket expenses. They are sometimes called tangible damages or special damages.

Non-Economic Damages

Non-economic damages are the other costs of an accident, which are often psychological. They include pain and suffering, emotional anguish, loss of companionship, and diminished quality of life. They are sometimes called intangible damages or general damages.

How Much Do Colorado Personal Injury Lawyers Cost?

Personal injury lawyers often charge a contingency fee of between 30% and 40%. The fee depends on several factors, including the complexity of the case, the attorney’s level of experience, and whether the case settles or proceeds to trial.  

Your attorney should discuss these factors with you at the outset of the representation, and they should be reflected in your retainer agreement.

Are There Other Costs Associated With a Personal Injury Case?

An injured party may also have to pay costs associated with filing a personal injury case. These include filing fees, expert witness fees, copying, and other administrative costs. Personal injury attorneys usually advance these costs for their clients and then are reimbursed from any settlement that is paid out. 

In addition, you may have medical liens for treatment you received while your case was pending. If that’s the case, then your medical costs will be paid from your overall settlement award, as well as the attorneys’ fees, before you receive the remainder of the settlement.

What Types of Personal Injury Cases Charge a Contingency Fee?

While there are many types of personal injury cases, one commonality is that they all usually include a contingency fee. 

This includes the following types of cases:

If you were injured in one of these types of accidents, reach out to an experienced Colorado personal injury lawyer to discuss your case.

Schedule a Free Consultation With an Experienced Lakewood Personal Injury Lawyer

If you were injured in an accident in Colorado due to someone else’s negligence or carelessness, you could recover compensation for your damages.

If you reach a favorable settlement, your personal injury attorney will collect their contingency fee from your overall financial award. 

To discuss your case, contact a personal injury attorney to schedule a free consultation at Matos Personal Injury Lawyers by calling at (720) 912 7274.