At Thompson Law our fees are a share of your settlement amount, so if we win you a larger settlement then our share is worth more as well.
Personal Injury Attorney Fee Calculator
The percentage share itself is based on whether your case is settled out of court or proceeds to litigation. If your case is settled without litigation, our fee is 33% of your settlement amount
If your case goes to court, our fee is 40% of your settlement amount For example, if your case settled for $100,000 out of court, our legal costs would be $33,000.
You can use our legal fees calculator to estimate how much your fees might be by entering different settlement amounts.
Are there any other costs to pay?
Yes, there are sometimes extra costs that you’ll have to pay if you bring a case to court, they can include things like court filing fees and other advanced court costs.
These are usually paid by your solicitor while they are representing you, and then need to be paid at the end of proceedings.
We only ever recommend proceeding to litigation if we are confident that there is a good chance of being successful.
When do you have to pay your legal fees?
Any fees you owe don’t need to be paid until your case concludes and are usually taken from your settlement amount.
This means you don’t need to pay anything until you’ve received your compensation amount.
Is there any way to be charged more than the settlement?
No, if you ask Thompson Law to take on your case there is no way your fees could exceed your settlement amount.
This is because we take a share of your settlement, either 33% or 40% depending on whether your case has required litigation.
This means after our costs are deducted that the rest of the settlement amount is yours.
How do you manage personal injury case settlements? Are you still using spreadsheets, notebooks, or physical calculators? How do you track all the offers, demands, negotiations, fees, expenses, etc?
This is neither recommended nor efficient. Even if you use generic case management software to keep track of your settlement, does it let you calculate settlement recovery in the case of multiple plaintiffs, insurance providers, and injury types?
If you have answered ‘Yes’ to the first question and ‘No’ to the second then you are not using the software that is built exclusively for personal injury law firms. Personal Injury software can streamline your settlement process and ensure you didn’t miss a single cent in the settlement calculation and maximize the settlement for your clients.
Calculating the settlement correctly is critical and complex, given that the plaintiff’s life and your firm’s future depends on it. Secondly, the attorney has to consider so many factors, including expenses, liens, medical bills, referral attorney fees, overhead costs, etc.
Well, no more. CloudLex’s Settlement Calculator takes all the complexity out and streamlines your settlement process.
How? You ask
The following are features that help you take your settlement process to the next level:
Track Demands and Offers
With CloudLex, attorneys can manage all the demands and offers in one place, for single, and even multiple plaintiffs, in a PI case. You can log offers from adjusters against their plaintiff’s insurance, track payment requests, and expenses for each injury type.
Anyone with appropriate access permission can check the settlement stage and pick up from where the previous attorney had left off.No more manually entering the data in multiple software or sheets.
Log Ngotiations
Negotiation is a critical stage in the case lifecycle because this is where your client gets justice for all their suffering after the injury, and you receive your fees for all your hard work. It is important to log every negotiation for one or multiple plaintiffs in the case.
With the personal injury settlement calculator, you can calculate both gross and deducted calculations for each negotiation.
For the Gross calculation, “Attorney Recovery” is calculated by applying the attorney fee to the total settlement amount. “Expenses & Disbursements” and “Liens & Medical Bills” are then subtracted from the subtotal, which yields the Plaintiff Recovery.
For the Deducted calculation, “Expenses & Disbursements” and “Liens & Medical Bills” are subtracted from the total settlement amount first. The attorney fee is then applied to this subtotal, which yields “Attorney Recovery.”
You can also choose to include referral attorney fees in the calculations if applicable in a particular case.
Once the negotiations are done, you can mark the calculations as final, CloudLex intuitively gives recovery amounts for all the parties.
Settlement Reports
Settlement offers can come at any stage of the case; therefore, managing partners need to keep track of all the settlements for firm-wide cases, and allocate resources accordingly. That’s where CloudLex’s settlement reports can help you.
What is a Settlement Calculator?
The Settlement Calculator helps you manage all the demands and offers in one place for single, and even multiple, plaintiffs in a personal injury case. It also enables you to track offers, payment requests, and expenses for each injury type. Our Settlement Calculator intuitively shows attorney recovery and plaintiff recovery for each offer and counteroffer.
What are Gross Calculations?
For the Gross calculations, “Attorney Recovery” is calculated by applying the attorney fee to the total settlement amount. “Expenses & Disbursements” and “Liens & Medical Bills” are then subtracted from the subtotal, which yields the Plaintiff Recovery.
The “Gross Amount” for: “Attorney Recovery” can be calculated using the following formula:
Attorney Recovery = {(Settlement Amount) * (Attorney Fee Percentage)} – {(Expenses & Disbursements) + (Liens & Medical Bills)}
If there is an “Attorney Referral Fee”, then the formula is:
Attorney Recovery = [{(Settlement Amount) * (Attorney Fee Percentage)} – {(Expenses & Disbursements) + (Liens & Medical Bills)}] * (1 – Attorney Referral Fee Percentage)
What are Deducted Calculations??
For the Deducted calculations, “Expenses & Disbursements” and “Liens & Medical Bills” are subtracted from the total settlement amount first. The attorney fee is then applied to this subtotal, which yields “Attorney Recovery”.
The “Deducted Amount” for “Attorney Recovery” can be calculated using the following formula:
Attorney Recovery = {(Settlement Amount) – {(Expenses & Disbursements) + (Liens & Medical Bills)} * (Attorney Fee Percentage)
If there is an “Attorney Referral Fee”, then the formula is:
Attorney Recovery = [{(Settlement Amount) – {(Expenses & Disbursements) + (Liens & Medical Bills)} * (Attorney Fee Percentage)] * (1 – Attorney Referral Fee Percentage)
Most ask questions and answers by users
What percentage do personal injury attorneys get?
33 percent, Contingency Fee Percentages
In the majority of cases, a personal injury lawyer will receive 33 percent (or one third) of any settlement or award. For example, if you receive a settlement offer of $30,000 from the at fault party's insurance company, you will receive $20,000 and your lawyer will receive $10,000.
How are injury settlements calculated?
To determine the settlement offer amount for pain and suffering, emotional damages, and permanent disabilities (general damages), the adjuster will multiply the amount of special damages by roughly one and a half to three in situations where the injuries are minor.
Is it worth it to hire a personal injury lawyer?
Because filing a personal injury lawsuit requires specialized skill and training, as well as a thorough knowledge of the legal system, you should never file a personal injury lawsuit without a lawyer. In these cases, hiring a personal injury lawyer will be worth the fees you must pay him or her to represent you.
How much does a personal injury claim cost?
Depending on what part of the country the case is in, and the attorney's experience and level of expertise, a standard rate for a personal injury lawyer might range from $150 to $400 per hour. Since a trial can take upwards of 50 or 60 hours -- sometimes significantly upwards!
What is a good settlement offer?
Most cases settle out of court before proceeding to trial. Some say that the measure of a good settlement is when both parties walk away from the settlement unhappy. ... This means that the defendant paid more than he wanted to pay, and the plaintiff accepted less than he wanted to accept.
Why do personal injury lawyers have a bad reputation?
Many times, clients that have experienced severe pain or suffered losses, are under the impression that their personal injury lawyer has made lots of money off their case. Most times, lawyers get a bad reputation because of poor communication between them and their client.
What is a fair settlement for pain and suffering?
You can recover up to $250,000 in pain and suffering, or any non-economic damages.
How much is a neck injury settlement?
Settlements are highly variable. In our experience, successful monetary recoveries for simple injury may range anywhere from $2500 to $50,000. On the other hand, if the neck injury or back injury requires a surgical procedure such as a neck fusion, then the monetary award could reach hundreds of thousands of dollars.
How do lawyers calculate pain and suffering?
Many plaintiffs' attorneys were trained to use one of two methods for calculating pain and suffering. The first method is to multiply the plaintiff's actual damages (medical bills and lost wages) by a certain number, generally between 1 and 5 (depending on the severity of the injury).
What do personal injury lawyers look for?
Whether you are seeking compensation for exorbitant medical bills, lost wages, mental anguish, or pain and suffering, your personal injury lawyer wants to ensure that he/she is compensated for his/her time as well.
Why do lawyers take so long to settle a case?
Your settlement could be delayed because your case involves large damages, or put simply, a lot of money. In this case, insurance companies will delay paying money out on a settlement until they are confident about it. They will investigate every aspect of the case and every detail of the liability and damages.
How do I settle a personal injury claim without an attorney?
Take pictures of the property damage, the accident scene, and the injuries. Get a copy of the police report (for a car accident case) Get the medical treatment you need, as soon as possible. Use any "personal injury protection" ("PIP") insurance coverage to pay initial bills, and then use your health insurance.
How is a settlement paid out?
How Is a Settlement Paid Out? Compensation for a personal injury can be paid out as a single lump sum or as a series of periodic payments in the form of a structured settlement. Structured settlement annuities can be tailored to meet individual needs, but once agreed upon, the terms cannot be changed
How long after settlement do I get my money?
How long does it take to get money from a settlement? On average, the typical settlement can take up to six weeks for processing. This is due to a number of factors and may vary from one case to another
Can lawyers steal your money?
Thankfully, most lawyers don't steal. Only a small fraction of one percent do. For their clients, however, collecting could be difficult. In Florida, the Florida Supreme Court disbarred a Daytona Beach attorney for stealing money from his client trust account.
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