Your case could take ten hours to resolve or it could take one-hundred hours. Some clients are used to being billed hourly; they only want to pay for the actualtime the lawyer spends on the case. Other clients don’t really care how long a lawyer spends ontheir case, they just want to know how much it’s going to cost them. And most of our clients whohave been in an accident are up to their eyeballs in medical bills; they can’t afford a lawyer at all.We’re happy to offer solutions for each of these situations.
Hourly Billing. This is the way most law firms have historically billed their clients. The firm takes a look at a case and estimates how many hours it will take to resolve it. The firm thenmultiplies the attorney’s hourly rate by the number of hours it has estimated. The client then pays that amount to the firm in the form of a retainer. The firm puts the client’s retainer in a trustaccount. As the firm does work for the client, it transfers parts of the retainer the firm’s account.If the retainer is gone before the case is resolved, the firm sends the client a monthly bill. If partof the retainer is left over after the case is resolved, the firm refunds the money to the client. Thismethod of billing is best for clients who want an exact accounting of the time spent on their caseand an assigned value to that time.
Flat Fee Billing. This is the way many firms have begun to bill their clients. As with hourlybilling, the firm takes a look at a case and estimates how much time it will take to resolve thecase. The firm also takes other things into account: how complex the case will be, whether thefirm will have to turn other clients away to work on the case, the level of skill involved to handlethe case properly, etc. After taking all of that into account, the firm will charge the client a flatfee. This fee will typically be broken up into parts, each part corresponding to a point in the case.For instance, the firm might charge one half of its flat fee before the first appearance, with thesecond part of the flat fee being due when the client decides to go to trial. This method workswell for clients who want to be able to budget the cost of their case and not be bothered if it takeslonger than expected.
Contingency Fees. For our clients that have been the victim of an accident, we offer contingencyfee arrangements. We understand that many victims don’t have the funds to pay an attorney upfront. That’s why, if we take your case, we’ll do it without any payment up front. As a matter of fact, we won’t ask you for any payment unless you are compensated for your injuries. Our contingency fee varies from case to case.
If you have questions, contact Bell Folsom, P.A. for other clarifications on Fees.
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