Warning Kentucky Accident Victims: Understand Your Contract

When you have been in an accident where you or a loved one has been injured, you will more than likely find yourself in front of an attorney. There are many questions and emotions that you are likely to experience while in front of your attorney. Typically, the questions will be about court appearances, the process of the lawsuit and the amount your case is worth. It is very important to understand the specifics of the contract you will be signing, ask for clarification to prevent getting hurt again, this time financially.

Misconceptions for injury cases

There are many misconceptions about personal injury cases. This is due in part to the misinformation that has been put out by the insurance industry. It is also due to the lack of information that is available to the general public on this subject. I am going to put these myths to rest once and for all. One of these myths is the fee attorneys charge.

There are no set fees that must be charged in auto accident cases in Kentucky. Most attorneys work on a contingency fee basis. This means you will pay the attorney a percentage of your recovery and not a flat fee or an hourly fee. You don’t have to pay any money up front to hire an attorney. In most instances, you will not owe the attorney a fee if a recovery is not made for you in the case.

What is a contingency fee?

The contingency fee is usually 33 1/3%. I have seen contingency fees as high as 50% and as low as 25%. I have also seen sliding scale fees that are a certain percentage if the case is settled before filing suit. It goes up again if suit is file, up again if there is a jury trial and then up again if there is an appeal!

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What an attorney charges you is an agreement between you and that attorney. Make sure that you read the contract and understand it. If there is anything you do not understand, ask questions until you are sure that you do. You will legally bound by what you sign. If you are hiring an attorney for a personal injury in Kentucky, make sure when you understand the fee process.