If you are going through an accident, which is the most painful and critical situation, you might wonder about the cost of hiring a lawyer. Right now, you must be hurt, depressed, experiencing chronic pain, and possibly facing financial stress as well. It’s a valid concern to get an expert lawyer to help with your case who can help you get the compensation you deserve.
And it’s a relief that the accident lawyers in Toronto don’t charge you upfront. They work on a contingency fee agreement and only charge you if you get your companion from your case. So, hiring an accident lawyer in Toronto might be more affordable than you think.
However, in this guide, we will break down the cost and what we need to know.
How Much is the Contingency Fee?
As I mentioned earlier, Toronto lawyers don’t charge upfront; they work on a contingency fee agreement. That means you don’t have to pay out of your pocket first, or we can say you don’t pay unless you win. Sounds pretty good, right? Let me tell you how that works.
This is a big deal when it comes to accident lawyers in Toronto. After an accident, you need strong mental and financial support, which Toronto lawyers will provide you. They’ll charge a percentage of your settlement or the amount you get from the court. If you win, you have to pay the percentage, and you have to pay nothing. Also, you don’t even have to pay their legal fees. That’s called contingency fees.
Usually, the contingency fee percentage ranges from 25% to 40% of your settlement. So if you win $100,000 in your case, and your lawyer’s contingency fee is 30%, they’d get $30,000, and you’d keep $70,000.
This agreement makes legal representation accessible to many people. It’s hard to recover after an accident and afford a lawyer. In most cases, people are afraid to hire a lawyer due to insufficient financial conditions. However, accident lawyers in Toronto give everyone this opportunity so everyone gets legal help without any hassle.
Factors That Can Affect the Cost
Now you have a clear idea about the contingency fee. But why is the percentage 25% to 40%? Some factors can affect your cost, depending on your case. The first thing is how complicated your case is. If your accident involves multiple parties or you get severely injured, that can cause complicated legal issues, and your lawyer has to do more work for your case. So, it’s pretty standard that it will affect the cost, and your lawyer’s contingency fee percentage will increase. Most of the lawyers in Toronto offer you a free consultation to get a clear idea of the entire process.
Usually, more experienced lawyers might charge a higher percentage of contingency fees. That may affect the cost but the experienced one may also be more efficient and potentially get better results. So, it also increases the chances to win the case and get a better compensation. Another factor is time and effort, which can affect the percentage. The more time and effort your lawyer provides the higher the percentage. If your case settles quickly, the lawyer’s fee might be lower. However, if it takes a long time and goes to trial, which requires much more time and effort.
The Cost of Litigation
Most of the accident cases in Toronto, Ontario settle out of court. The lawyers usually try to negotiate a fair settlement before recommending going to trial. This way your case will close quickly and need less effort. Another, if your case goes to trial, costs can increase significantly. While your case is in the court for trial, possibly your lawyer has to do more work and effort. Also, that will require additional expenses like court fees and expert witnesses come into play. So, the best way is to settle the case before going to trial. It’s beneficial for both sides.
The Bottom Line
When you hire an accident lawyer in Toronto, possibly you can get quality legal representation without upfront costs. You don’t have to pay unless you win, and an expert lawyer can often secure a larger settlement that makes their fee worthwhile. They only charge a percentage of your compensation. However the percentage depends on your case condition. The more complex your case is, the higher percentage your lawyer demands.
In Toronto, most law firms offer you a free consultation so that you can get all information about this process. Ask your lawyer everything you need to know and get a clear idea during your painful journey. Also, your health and well-being are what matter most. So, hire a lawyer who can help you get the compensation you deserve and reduce your stress during a difficult time.
