August 20, 2010, Newsletter Issue #144: Retaining a Personal Injury Lawyer

Tip of the Week

Some personal injury lawyers require a "retainer", which is an amount of money that the lawyer takes in downpayment for their services. They will then charge you the balance of their hourly fees and other expenditures at the end of working for you. Some personal injury attorneys choose not to use the retainer-type payment system, instead allowing you to pay them once you have received your settlement from the other party. This is called working on "contingency", and the lawyer does not get paid unless you win your lawsuit. Beware that the lawyer in contingency cases may end up getting 40% of your monetary compensation, so make sure you know all the details before signing any legal agreements.

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