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What is a fair "cut" from a settlement for your lawyer?
- Thread starter James
- Start date
imported_laughter_every_day
New member
fees are negotiable. The percentage that a lawyer will agree to work for depends on several factors, but it boils down to how much the judgment might be, whether the defendant has money, how likely it is to settle or prevail at trial and how much work will go into obtaining the judgment. If the case is clearly worth a million and will require no more than a few phone calls, then 10 percent is not unreasonable. If liability is not clear and it will require a dozen depositions and motions and even then the defendant is likely to go bankrupt, then closer to fifty percent.
sensible_man
New member
If you hire an "ambulance chaser" (personal Injury) attorney, the fee will be 33%. The only good thing is that if you lose, he gets nothing. Roll the dice.
Sinnerstar
New member
Depends on the contract you signed. Most attorneys take 1/3 of your settlement, plus costs, such as copying, travel fees, expert fees, etc. But, depending on what your contract says, your attorney may be entitled as much as 40% of your award.
This is why we should ALWAYS read the contract before signing, so we know what we're getting into.
This is why we should ALWAYS read the contract before signing, so we know what we're getting into.
rann_georgia
New member
I think it should be no more than 25%. But, often it runs around 33% and sometimes they tack on filing fees, etc.
In medical cases, it's sometimes possible that after the lawyers take their cut, the victim/patient will still be left owing medical bills.
Pick and choose a lawyer carefully. Sometimes they'll say anything to get you to sign.
In my case, I was in an accident and called on of these lawyer's in the phone book. I had discovered I could file an "uninsured motorist" claim which I later did. He'd never heard that term but was still telling me to let him take the case. I handled it myself and while I didn't get the full amount that the insurance coverage, by factoring in what the lawyer would have got, if it'd paid 100%, I was much better off financially.
Sometimes you'll hear people talk of the oldest profession in the world. Lawyers must be the second.
In medical cases, it's sometimes possible that after the lawyers take their cut, the victim/patient will still be left owing medical bills.
Pick and choose a lawyer carefully. Sometimes they'll say anything to get you to sign.
In my case, I was in an accident and called on of these lawyer's in the phone book. I had discovered I could file an "uninsured motorist" claim which I later did. He'd never heard that term but was still telling me to let him take the case. I handled it myself and while I didn't get the full amount that the insurance coverage, by factoring in what the lawyer would have got, if it'd paid 100%, I was much better off financially.
Sometimes you'll hear people talk of the oldest profession in the world. Lawyers must be the second.
It depends on the type of case it is. Can you provide more details?
It would depend on how much court time is likely to be involved, how much expert testimony, the potential amount of the settlement, how much expense the attorney must risk for depositions, investigation, etc.
Generally anywhere from a 1/4 to half; again depending on many factors including whether expenses are included or excluded in the contingency agreement.
It would depend on how much court time is likely to be involved, how much expert testimony, the potential amount of the settlement, how much expense the attorney must risk for depositions, investigation, etc.
Generally anywhere from a 1/4 to half; again depending on many factors including whether expenses are included or excluded in the contingency agreement.
Joe Finkle
New member
If you're not paying up front, typical rates are between 30% and 40%. 1/3 is typical.
If you pay up front, it's much cheaper. Hourly rates vary from $150 an hour or so up to $700 an hour for top partners at major NYC firms. That's typically cheaper than paying a percentage of your settlement, but you're on the hook even if the case goes to trial, you loose, and you get nothing.
Which scenario is typical depends on the type of case and how much you have to pay depends on where you are, the nature of the case, and the level of experience of the attorney.
You should have all this information up front though. It's in the retainer agreement. If you are hiring a lawyer, you'll be given a retainer agreement (typically 1-2 pages and not too dense legalese) to read and sign before anything happens. If one is being provided to you from your union or some other arrangement, ask the people who have arranged for the attorney or, better yet, ask the attorney directly how they are paid and how much.
EDIT: Reading your question again, it sounds like you might be talking about a class action. If so, it varies even more widely. Typically 40% is common in a class action because the individual members of the class have little control. Theoretically the other side is supposed to pay for the legal fees in a class action, but that's not a huge factor in a settlement, it comes more into play if you win at trial. Depending on the lawyer and the judge (the judge has to sign off on class action settlements as a check to make sure they are fair), it may be very fair to the individuals, but often times the individuals get screwed over. You will have the option to opt out of the settlement and get your own lawyer. This option is difficult and expensive and may or may not be right for you. If you want to know if that's what you should do, contact a lawyer to see whether or not they think you should pursue your own case. I can't tell you that on Yahoo Answers because I cannot give you legal advice.
If you pay up front, it's much cheaper. Hourly rates vary from $150 an hour or so up to $700 an hour for top partners at major NYC firms. That's typically cheaper than paying a percentage of your settlement, but you're on the hook even if the case goes to trial, you loose, and you get nothing.
Which scenario is typical depends on the type of case and how much you have to pay depends on where you are, the nature of the case, and the level of experience of the attorney.
You should have all this information up front though. It's in the retainer agreement. If you are hiring a lawyer, you'll be given a retainer agreement (typically 1-2 pages and not too dense legalese) to read and sign before anything happens. If one is being provided to you from your union or some other arrangement, ask the people who have arranged for the attorney or, better yet, ask the attorney directly how they are paid and how much.
EDIT: Reading your question again, it sounds like you might be talking about a class action. If so, it varies even more widely. Typically 40% is common in a class action because the individual members of the class have little control. Theoretically the other side is supposed to pay for the legal fees in a class action, but that's not a huge factor in a settlement, it comes more into play if you win at trial. Depending on the lawyer and the judge (the judge has to sign off on class action settlements as a check to make sure they are fair), it may be very fair to the individuals, but often times the individuals get screwed over. You will have the option to opt out of the settlement and get your own lawyer. This option is difficult and expensive and may or may not be right for you. If you want to know if that's what you should do, contact a lawyer to see whether or not they think you should pursue your own case. I can't tell you that on Yahoo Answers because I cannot give you legal advice.