Can I Lose Money If I Lose My Personal Injury Claim?

Posted on behalf of James Lynch on May 26, 2020  in Personal Injury News. Updated on July 11, 2023

insurance-form-cash-stethPersonal injury victims may sometimes avoid filing a claim because they do not want to risk losing money. Since most personal injury lawyers work on a contingency basis – there are no upfront legal fees for services and payment is only collected if they help you win compensation in a settlement or verdict.

The New Jersey personal injury lawyers at Lynch Law Firm, PC work on a contingency basis to give injured victims a fair chance to hold negligent parties accountable for damages, such as medical bills, lost wages from missed work, pain and suffering and other losses. We even offer free consultations to determine if your claim qualifies for compensation and you will not be obligated to retain our legal services.

Below, our lawyers help you understand how the personal injury claims process works and how we are prepared to help protect your rights to fair compensation, without the risk of losing money.

How Does Contingency Work?

When a lawyer works on a contingency basis (as most personal injury lawyers do), this means he or she is agreeing to work on the case for free, until he or she obtains compensation for you. Lawyers who work on contingency will only accept your claim if he or she believes it will be a success. An experienced lawyer will know which claims may not have a significant chance to win compensation and may choose not to accept them.

If the lawyer does win compensation for you, he or she will usually collect a previously agreed upon percentage of your settlement amount.

Is it Possible to Lose Money in a Personal Injury Claim?

Since no two cases are the same and no lawyer can guarantee a successful outcome, there could be instances where you could be taking a risk. For example, if you are not satisfied with the outcome of the claims process and you decide to file a lawsuit, and your lawyer loses the lawsuit, you may have to cover court fees for the defendant, if he or she demands it.

However, most personal injury cases are settled before going to court so you may not have to take this risk. A good attorney can advise you of when he or she thinks filing a lawsuit may be too risky, especially if you are on a tight budget. In the end, your lawyer cannot make the decision to file a lawsuit without your written permission, so you will always have control of the situation.

Ways to Avoid Losing Money in a Personal Injury Case

There are some steps you can take to avoid losing money in a personal injury case. It is important to follow these steps to maintain the value of your claim and refrain from paying for any out-of-pocket expenses:

  1. Seek a medical examination from a health care professional.
  2. Report your accident to the police or your employer if you were injured at work.
  3. Collect evidence from the scene of the accident including pictures or video of the scene and your injuries.
  4. Record possible witness contact information from anyone who may have seen how the accident occurred.
  5. Avoid speaking to insurance adjusters as they are usually looking for ways to hold anything you say against the value of your claim. Let your lawyer handle all communication on your behalf.
  6. Consult with an attorney in a free consultation to learn your rights.

Hire a Trusted Attorney Today

If you need a trusted personal injury attorney, contact Lynch Law Firm, PC today to schedule a no cost consultation. We charge no attorney fees to discuss your legal options and we do not bill you unless we recover funds for your claim.

Our firm has collected over $300 million in compensation on behalf of our clients, including a recovery of $4,500,000 for a car accident victim who suffered a traumatic brain injury.*

Let our team of legal professionals guide you through the claims process so you can focus on what matters – your recovery.

We are available to take your call anytime, 24/7, at (800) 518-0508 .

* Results may vary depending on your particular facts and legal circumstances.

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