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personal injury claims personal injury claims Is There a Minimum Settlement Amount for Personal Injury Claims? klandry 9

Personal injury claims do not have a minimum settlement amount because you can agree with the defendant to any terms that suit your situation. The court, however, can check out your case to determine if there are any signs of unfairness or if you were coerced to accept a settlement amount you did not want.

What the Judge May Not Accept

A judge may refuse your settlement if your settlement terms seem unfair. Some of the situations that a judge may consider as unfair include:

  1. Not Enough Money

Most personal injury lawyers try as much as possible to get the highest settlement amount for their clients. A court may decide to reject the settlement amount if they see that the settlement amount given to the client is too little. Usually, the rejected settlement amount is slightly lower than what the court would approve.

  1. Disproportionate Split

In a class action lawsuit, there are instances where the money is disproportionately split between the members and the lawyers. Sometimes you may find that the class members receive more money than the lawyer does or the lawyer receive more money than the members do.

However, a disproportionate split isn’t exactly a straightforward issue. There have been instances where personal injury lawyers are paid millions while members are paid much less

  1. Bad Faith

A court can decide to reject a settlement if your personal injury case involves a large corporation and your settlement agreement wasn’t entered in good faith. It does not matter how big the settlement amount is as long as it was entered in good faith then it will still be accepted.

It’s important to note that just because you received a low settlement amount, it means the insurer acted in bad faith. It’s best to let your Providence personal injury attorney evaluate your case and chart a way forward with you.

Attorney’s Fees

The state of Rhode Island imposes limits on attorney fees in personal injury cases. The limits specify the percentage of damages that your personal injury lawyer can deduct as attorney fees. A court cannot accept settlements that disproportionately award attorneys at the expense of the plaintiff.

Most personal injury lawyers in Providence charge a contingency fee of between 33%-40%.  A contingency fee simply means that your lawyer will not charge you any lawyer fees until they win your case.

Contingency fees can sometimes be a source of conflict between the attorney and the client if:

  1. The case recovers a lot of money or settles too quickly and the attorney is paid more than they deserve.
  2. If the case takes too long to settle or the attorney recovers very little money then all the time and money lost on the case might be a source of frustration for them.

Consider the following factors when determining attorney fee:

  1. The amount of work, time and skill required to solve your case.
  2. Attorney fees that are customarily charged in Providence for similar cases
  3. The settlement amount to be recovered and the verdict that will be arrived at.
  4. The amount of time that’s left to settle the case or the time limit imposed by the client.
  5. The experience and reputation of the lawyer handling your case.

Considering all the above factors, your Providence personal injury lawyer should be able to set a fair contingency fee.

When Should You Settle?

You and your Providence personal injury lawyer should be able to discuss how much you should settle for and when you should settle. It’s not always advisable to go to court especially if you have a very difficult case to prove.

You should also avoid going to court if you cannot afford to lose your case. Settling your case is always the less risky route to take if you desperately need the money to pay your expenses and damages arising from your injuries.

You shouldn’t take advice about settling your case from a personal injury lawyer who hasn’t taken his time to evaluate your case. Some lawyers run settlement mills and we wrote a post about it here.

Hiring a Providence Personal Injury Lawyer

If you have a personal injury claim that you want to be reviewed, we can do it for you for free. Contact any one of our Providence personal injury lawyers from Kevin P Landry Law Offices by dialing 401-751-0101717 today.