Thousands of Individuals are hurt every year in car accidents, slip and falls, medical malpractice incidents, and other incidents caused by another’s negligence. As a result of these incidents, many individuals file and successfully win personal injury claims against the negligent parties. When a personal injury award is received, the award is the gross payment amount settled by the parties or awarded by the courts. This payment amount is the total amount received by the at-fault party for the accident or incident. However, in most cases it is not the actual amount received by the injured party. Many attorneys, like the attorneys at Colombo Law, will have to calculate the net value of your claim, taking into considerations fees and payments that must be paid out from an award. If you or your loved one has been injured and think you might have a personal injury claim, contact Colombo Law today for a no-risk initial consultation.
There are several fees and payments that will be deducted from an award prior to being paid the net value of your claim:
- Contingency Fees: Most personal injury law firms, including Colombo Law, accept personal injury cases on a contingency basis. A contingency fee case allows an attorney to initially take a case free of charge. If the case is successful, the attorney collects fees from the total award received. The amount of the contingency fee fluctuates between law firms and between attorneys within each firm. In addition, the percentage of a contingency fee may be less if the case is settled prior to trial or more expensive if it goes through a jury trial.
- Medical Expenses: Medical expenses will also be deducted from the gross amount of any award. Medical expenses are often extremely high and payment for care often exceeds the ability for an individual to pay. Many medical providers will defer payment when there is serious injury and providers become aware of a personal injury claim.
- Costs: There are several other costs that attorneys pay out-of-pocket when cases are taken on a contingency fee basis. Some of these costs include paying for experts to investigate a cause of claim or type of damages, such as accident reconstruction experts or medical experts. Other costs are for more administrative matters such as copying costs and creation of evidence like large diagrams. While the costs of a personal injury claim vary widely, these costs will also be deducted from a personal injury claim before receiving a net payout.
Contact Colombo Law
If your loved one has been injured in an accident or incident in West Virginia, contact Colombo Law today. Colombo Law firm is located in Morgantown and assists clients located in and around West Virginia including in Fairmont, Clarksburg, Bridgeport, Kingwood, Grafton, Weston, Philippi, Buckhannon, Elkins, Parkersburg, Monongalia, Marion, Harrison, Preston, Taylor, and Lewis county. We are here for all of your personal injury needs. Contact Colombo Law today for a risk-free initial consultation.