The Unique Advantages of the Schatten Law Firm
- Expensive Attorney Fees and Legal Expenses Hurtthe Client’s Bottom Line
At the Schatten Law Firm, our clients do not have to pay 33% to 35% for pre-litigation and 40% for litigation that are charged by some other law firms. Many big personal injury firms charge high attorney fee rates so that they can cover the costs of expensive television, radio, internet and other marketing costs. Those firms may alsohave to pay for expensive office space, large staff of paralegals, case managers, etc. Some of these large personal injury firms may take on between hundreds to thousands of personal injury cases. And, just one lawyer may have a case load of hundred or more personal injury cases. Making matters worse, when a lawyer is sacked with a large case load, the lawyer may not manage well the client expenses including deposition costs, hiring experts, investigator fees and hidden charges that are incurred in a case. When a client has to large a high amount of money in attorney fees and legal expenses out of a settlement that can really hurt the client’s bottom line result.
- What a 40% Attorney Fee Rate for Litigation Means in Reality
Imagine example case A that is worth one million dollars ($ 1,000,000). A 40% attorney fee contingency rate based on the gross recovery in that case would be $ 400,000 attorney fee.
Imagine case example B that is worth five hundred thousand dollars ($ 500,000). A 40% attorney fee contingency rate based on the gross recovery in that case would be $ 200,000 attorney fee.
Imagine case example C that is worth two hundred fifty thousand dollars ($ 250,000). A 40% attorney fee contingency rate based on the gross recovery in that case would be a $ 100,000 attorney fee.
Imagine case example D that is worth one hundred thousand dollars ($ 100,000). A 40% attorney fee contingency rate based on the gross recovery in that case would be a $ 40,000 attorney fee.
These examples illustrate that hiring a personal injury lawyer can be very expensive depending on the contingency fee rates that are charged by a law firm for pre-litigation and litigation. Be cautious before signing any retainer agreement particularly with firms that charge 33-35% contingency fee for pre-litigation and 40% for litigation.
- The Advantages of the Schatten Law Firm
At the Schatten Law Firm, our clients do not have to pay 33% to 35% for pre-litigation and 40% for litigation that are charged by some other law firms. Depending on the case, our clients are often able to get a substantial discount on their attorney fees which results in a tremendous savings. Also, we are wise in the way we incur legal expenses to avoid unnecessary charges to our clients. Pre-litigation means that a lawsuit is settled in negotiations without the need of filing a lawsuit. Litigation means that a lawsuit has been filed in the case.
- Tailoring the Right Fee
The Schatten Law firm also does not believe that it is fair and right to charge all the firm’s clients the same contingency fee percentage. We carefully discuss with the client and set our contingency fee rates based on our initial review of the case. A client should be cautious with law firms that provide a pre-set and pre-printed contingency fee rate that they use for all of their firm’s clients. That sort of “one size fits all” is often not fair nor just for the client. The contingency rate should reflect whether a personal injury case maybe valued $20,000 personal injury case compared to $ 1,000,000 as the lawyer will get a much larger fee in the higher value case. The factors that will drive the value of personal injury settlements include past and future medical expenses, pain and suffering, permanent impairment and the available insurance policies and whether liability of the Defendant is clear. Its also important to recognize that many of these factors are not known at the first meeting.