RTL’s Real Truth about the Law # 3: So a lawyer on contingency in a personal injury case takes a big cut of MY case… That can’t be fair… Right?
It’s actually very fair. And I’ll tell you why; because that good attorney is going to always add far more to the value of that claim than he takes as a fee. Your attorney in an accident case works on contingency. So, he knows the more money he can get for your claim, the more money you both will have in the end. It’s in BOTH your interests for him to get the absolute most he can and that’s the simple real truth about the law.
Would You Rather Have 100% of $10,000 or 67% of $30,000 – It Ain’t Hard Math
Put another way, would you rather have all of a $100,000 settlement that will go almost exclusively to paying bills incurred as the result of an accident, or would you rather have 2/3 of a $300,000 settlement with $100,000 going to an attorney? Think hard, because that is the real crux of the issue here: How much do YOU get.
Need a Good Reason? How About the Best One of All? Money
Need a better reason than objective unbiased advice to hire a good attorney? I’ve got the best one you can have. Money. That’s right. Money. If you handle a case settlement with an insurance company, you alone will never get the most you can for your claim and it has nothing to do with how smart you are. It has everything to do with getting compensated for ‘intangible’ damages, that is, those costs which are not ‘out-of-pocket’.
Why Paying All the ‘Bills’ Is Such a Bad Deal
Any insurance company is very happy from the get go to offer to pay any and all medical and repair bills you send them reasonably attached to any claim. Good deal, right? Hardly. They will not reimburse non out-of-pocket costs like pain and suffering or lost wages and productivity or even the strain a long term or permanent injury can place on a personal relationship. They will simply rest back on the contention that they’ll pay all costs that you can ‘prove’ with a price tag and smirk behind your back as you take the bait and leave all those other damages on the negotiating table. The simply real truth about the law is you cannot get to those damages unless you threaten to SUE, and you cannot credibly threaten to sue without an attorney who has gone through and proven the requirements to professionally and intelligently act in place of another. No matter how much you bone up on the legal process in advance, it’s never going to compare to the advantage presented by a seasoned advocate who knows the territory as a matter of making a good living from it.
Why Do You Suppose Insurance Companies Want So Much To Keep Lawyers Out?
And it’s not an ‘unfair’ system because the recovery with a good attorney will always justify and well exceed the contingent fee he takes as compensation. Why would an insurance company want so much to settle claims without attorneys being involved? Because it costs them money, that’s why! It’s why insurance companies are so frustrated when lawyers enter cases and why lawyers are so frustrated when clients try to go it alone. A claimant WITH an attorney costs the insurance company UNDESERVED profit, but a claimant WITHOUT an attorney costs the claimant DESERVED COMPENSATION.
What All This Ultimately Means to YOU
In closing, a good personal injury attorney will always add to the net resulting settlement of a case far and above any fee he takes for doing so and it’s a very fair setup given the value he brings to the table for the client. To try and go it alone in such circumstances is simply the epitome of a ‘cut-off your nose to spite your face’ approach which costs claimants lots of money they would otherwise get with the help of good legal representation and that’s the simple real truth about the law.