Do I Need Good Credit to Hire a Personal Injury Lawyer?

Our credit score can be a very intimidating shadow that either serves as a constant reminder to remain steady and conservative, or as a setback that prevents us from achieving certain goals in our lives. With a poor to fair credit score, you could be subject to higher interest rates, rejected applications, lower income housing, lower-level employment, and much more.

With all of these possible penalties of having less-than-good credit, it is no surprise that someone would question their eligibility for something like a lawyer. Most lawyers do cost money, and many charge upfront fees and costly hourly rates, so poor credit is naturally something to be concerned about. However, if you are in need of a personal injury lawyer, retainers and hourly charges are likely to not apply. Continue reading to learn more.

Contingent-Based Rates

Most personal injury lawyers work on a contingency-fee basis. This means they do not collect any attorney fees unless they recover a settlement for you. There are no upfront costs that come out of your pocket. Instead, personal injury lawyers collect a pre-set percentage of the settlement, which is always disclosed to a client upfront, before any documents are signed. These rates vary from law firm to law firm, and sometimes they can even be negotiated. In some states, the percentage a lawyer can take as a contingency fee is limited, but the average percentages generally range from 33 to 40%.

For Example:

Total Settlement – $125,000

Contingency Fee – 37%

Lawyers Deduction = $46,250

Client's Recovery = $78, 750

Associated Costs in a Personal Injury Case

Although there are no upfront fees to hire a personal injury lawyer, there are still certain costs associated with conducted a case. These additional costs are usually covered by the law firm, and then later deducted from your final settlement along with their original set percentage. The longer the case goes on, the more fees tend to add up. If this happens, the total percentage of the settlement a lawyer will receive is closer to 40% or 50% of the total settlement.

Here is an example of common costs lawyers will cover for clients:

  • Police Reports
  • Medical Records
  • Investigators
  • Eye Witness Fees
  • Filing Fees
  • Postage
  • Depositions
  • Trial Exhibits
  • And More

Sarahbeth Kluzinski Photo Call Craven, Hoover, and Blazek P.C. at 317-881-2700 when you need a trusted Indianapolis personal injury lawyer that will go to trial on your behalf to obtain the full and fair compensation you deserve. They offer free initial consultations and never collects lawyer fees unless we prevail for you. Call 317-881-2700 to schedule an appointment, today.