The cost of hiring a defective product lawyer for a product liability claim will depend on your case type, the amount at stake, and how experienced the attorney is. The more experience the attorney has with your type of case, the more likely he or she is to win it and get you a better settlement deal.
The good news is that there are many attorneys out there who are willing to take your case on contingency. This means that they will only get paid if they win your case or settle it in some way that benefits you financially. This arrangement can save you thousands if not tens of thousands of dollars compared to hiring an attorney who charges hourly fees for their services.
Types of Personal Injury Lawyer Rates
If you’ve been injured by a defective product, you may be entitled to financial compensation for your medical bills, pain and suffering, and other expenses related to your injuries. An experienced defective product lawyer can help you seek damages from the manufacturer or seller of the product in question.
However, not all lawyers charge the same. Defective product claims fall under civil law, and most personal injury lawyers filing civil cases work on a contingency fee basis. Others, however, will charge an hourly fee.
Contingency Fee Basis
When you hire a product liability lawyer who works on a contingency fee basis, that lawyer will only be paid if your case is won. If there is no recovery in your case, there is no cost to you at all. Your lawyer’s fees will be deducted from your settlement or court award based on an agreed-upon percentage.
Typically, contingency fees will range from 33% to 40%, and each lawyer will have their own fee agreement outlined when you sign a contract to retain their services. These types of arrangements are typically used when negligence is involved because it allows lawyers to take on more cases without being penalized financially if they lose their case.
Also, some defective product cases become mass torts or class action lawsuits, and these can be complex when determining legal fees. While they are also often on a contingency fee, the court will set and approve the attorney’s fees. Talk to a lawyer to determine what legal fees you might incur before hiring them for your claim.
A product liability attorney who charges an hourly rate will charge you according to how many hours he or she works on your case and how much work is involved in pursuing it through trial and appeal if necessary. They will also likely request a retainer upfront to cover initial expenses.
While some attorneys charge by the hour, others bill at certain milestones such as depositions or hearings where they need to be in court. In either case, you should always get an estimate of the cost of your case upfront so that you can budget for it and know what to expect.
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What Is a Defective Product Lawsuit?
A defective product lawsuit involves consumers who have experienced an injury due to the use of an allegedly defective product. These cases often become complicated because liable parties may include:
Defective products can range from tools and cars to medical devices and prescription drugs.
For example, if you purchased a pair of shoes that were made with faulty materials that caused blisters when you wore them, you could file a claim against both the store where you purchased them, as well as the manufacturer of those shoes for damages.
How Much does an Average Defective Product Lawsuit Cost?
Even when personal injury lawyers take on defective product cases on a contingency fee basis, it is usually with the understanding that a settlement will ultimately be reached. But if your case goes to court, it will likely incur litigation fees and labor costs, such as spending hours and hours reading through hundreds of documents.
Defective product lawsuits can be extremely costly, often exceeding $100,000. The cost of a defective product lawsuit can also include:
- Filing fees
- Court fees and costs
- Attorney fees
- Hiring expert witnesses
Filing a Claim Against a Major Corporation
The cost of hiring a defective product lawyer depends on the type of product liability lawsuit you’re filing and your attorney’s experience level.
If you’re filing a claim against a major corporation, such as a drug company or auto manufacturer, you may have to pay thousands of dollars in legal fees. But if the injury is minor and you’re suing for less than $100,000, it likely won’t cost very much at all.
Most states have laws that require injured parties to pay for their own legal expenses before they can recover damages from another party (called “contribution”). So, even though your lawyer will be working on a contingency fee basis, they may ask you to contribute some money upfront in order to cover their overhead expenses.
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Why Hire a Product Liability Lawyer?
If you have suffered serious injuries or lost someone close to you, there are many reasons why hiring a defective product lawyer is worth the cost. You will not have to worry about paying medical bills on your own. While insurance companies will pay for some medical expenses related to your injuries, they do not always cover everything that you need.
Attorneys can help you explore all the facts of your case and determine which parties should be held liable for damages. They will also handle negotiations with the insurance companies representing these parties and make sure that their clients are not taken advantage of in any way during this process.
If you have been injured by a dangerous or defective product, you may be entitled to compensation for your medical bills and other expenses related to your treatment, as well as compensation for lost wages if you were unable to work because of your injuries. Contact Viles & Beckman today to schedule your consultation.