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The Dollars and Cents Details of Settlements Negotiated by an Attorney in Walker MN

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The Dollars and Cents Details of Settlements Negotiated by an Attorney in Walker MN

When someone schedules a free initial consultation with an Attorney in Walker MN regarding a personal injury situation, this person will learn about the fee arrangement with the law firm. Contingency fees are the most common in personal injury cases. This means the client does not pay any upfront or hourly fees but instead pays the lawyer a specified percentage of the settlement agreed upon with the insurer or another party. The standard fee is one-third of the settlement. The client also may be responsible for paying certain expenses, such as travel costs the lawyer incurs during investigations or witness interviews, or traveling to hearings. This is all disclosed to the individual before any papers are signed so this person can decide whether the agreement is acceptable. The settlement payment is sent directly to the law firm, and the firm then issues the money to the client after receiving its portion.

When an individual tries to negotiate a settlement with an insurance company or other corporation, it’s difficult to achieve the right results. These businesses typically take the situation more seriously when they receive communication from an attorney in Walker MN. They understand that the lawyer knows what a case is worth and will provide aggressive legal representation for the client. That makes the standard fee very worthwhile for frustrated persons who are dealing with unpaid medical invoices, overdue bills, lost income, physical and emotional suffering, and other issues due to the injury.

In dollars and cents, a prospective client might consider what the result would be with a settlement agreement of $24,000. The lawyer would accept $8,000 as a contingency fee, or one-third of the settlement. There might be another $1,000 in the types of attorney costs the person agreed to pay. The person receives $15,000. This amount may be two or three times higher than the settlement the insurer originally offered before a law firm such as Borden, Steinbauer, Krueger & Knudson became involved. Since each case is different, it’s essential to confer with an attorney to learn what type of settlement would be considered reasonable. Schedule an appointment for a complimentary consultation as soon as possible.

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