I settled on a collection harassment case and the settlement amount is $6700. Of that money I will get $2000. Does that seem about right for them to keep about 70%?
2007-04-13 05:04:00 · 8 answers · asked by rebeccajo1115 1 in Politics & Government ➔ Law & Ethics
it depends...that seems high....Are you sure he is getting the other 4700? Part of it is his legal fees and another is the court costs, and some his costs in the firm....are there other places that the money is due...because the attorney getting more than the client is unethical....if this is true contact your state's bar association to start an investigation.
2007-04-13 07:14:22 · answer #1 · answered by Dr. Luv 5 · 0⤊ 1⤋
Generally the attorney (if on contingency) will take about 1/3 of your settlement PLUS you must take out any fees (such as filing fees) out of the settlement. you get the remainder. Remember that the attorney if working on contingency faced the possibility of not winning the case and doing the work for nothing along with filing fees he would have had to pay himself. His reward for taking the risk is that he gets 1/3 of the reward. In the future, you can always pay an hourly rate and the filing fees and then the settlement would all go to you (but then you take all the risk).
2007-04-13 06:03:46 · answer #2 · answered by SC 6 · 0⤊ 0⤋
Check your retainer agreement. Your attorney should be required to have you sign something agreeing to certain arrangements in the case. Did you pay them hourly or did they agree to take a percentage? If you signed it, well, that's why you need to read everything. If you had no such agreement, I'd suggest contacting your local bar association.
Also, if the attorney is one who will help collect the settlement, but you want the money now, that could be a likely reason for the high percentage. They are taking the risk that they may not collect, which explains it.
2007-04-13 05:23:40 · answer #3 · answered by genmalia 3 · 0⤊ 0⤋
It depends on what you original Agreement with them to represent you was.
If you haven't already received an itemized statement of how the figure was arrived at, contact your attorney's office to obtain one, along with a copy of the original Agreement for them to represent you (was it hourly or on a contingency fee basis?) if you cannot find your copy.
If it was on a contingency fee basis, common fees are 33% + expenses if it is settled before trial and 40%+expenses if it goes to Court, but it could be higher if there was a higher probability that the case would not be winnable in Court...depends on what was agreed to prior to them starting to represent you.
The big question then would be how much did they have to dole out for expenses; they should be able to provide you with an itemized statement. If they had to hire an outside private investigator to investigate and get statements from other parties related to the case that would support your harrassment claim, it could have cost a few hundred to a few thousand dollars, depending on how much work they had to do, and it would be an expense, not part of the attorney fees, and would be added to the total. Another thing to find out is any taxes were held out of the settlement.
If it was on an hourly basis, they would be entitled to deduct how ever many hours they worked on your case at the fee agreed upon in the original agreement, plus any expenses related to your Settlement.
In any event, an itemized statement should let you know how they arrived at the amounts that they have.
2007-04-13 05:18:34 · answer #4 · answered by bottleblondemama 7 · 1⤊ 0⤋
hard to say without reading your payment deal with your lawyer
in general if it was a contingent fee they keep a 1/3 if it was not a contingent fee
just but hour fee base deal, and it was a full blown case with discovery, witness etc then settlement offer.
The lawyer could have easily put many hours, experts etc to reach a bill 4,700 suing is not cheap anything under 5|K is usually a bargain
but where you informed when you agreed to the settlement the settlement price , the attorney bill|?
2007-04-13 05:13:11 · answer #5 · answered by goz1111 7 · 0⤊ 1⤋
Yes, next time include the attorney fees in the settlement.
2007-04-13 05:11:42 · answer #6 · answered by Darth Vader 6 · 0⤊ 1⤋
at the instant, they're suing people for such small quantities. even with each thing, in the event that they win, they get to function all the charges to the quantity they get from you. you may actually attempt and settle yet your credit is already toast. And having a courtroom judgment against you is even worse as they stay on your credit historic previous for as much as ten years.
2016-12-26 06:20:10 · answer #7 · answered by ? 3 · 0⤊ 0⤋
$2010 is 30%, $2211 is 33%. What they hell kind of lawyer keeps 70%? You got shafted.
2007-04-13 05:36:33 · answer #8 · answered by Hot Coco Puff 7 · 0⤊ 0⤋