How Much Does It Cost To Have My Case Reviewed by Your Attorneys, and How Are The Attorneys Compensated for Their Work and Expenses on The Case?
The Chicago Personal Injury Attorneys of Friedman & Bonebrake, P.C. offer prospective clients a free initial consultation. At this consultation, we will introduce ourselves, get to know you, and ask a lot of factual questions in order to make an in-depth evaluation of the case. If we believe your case is not legally sound for some reason, we will be honest with you and so advise you at that time. We will not create unjustified lawsuits. (In fact, we find that many prospective clients are often relieved to have spoken with us, even when we advise them of a serious problem with their case, as they are often simply looking for an honest, competent evaluation, have second thoughts themselves about the strength of the case, and now understand why the case is problematic from a legal perspective.) If we do believe the case has merit, we will provide you with an attorney-client agreement at that time. You may sign the agreement at that time and hire us as your attorneys. You may also take the agreement with you and further consider your options. There is no obligation to retain us simply by meeting with us.
If you do retain us as your attorneys, then we will ask you to sign an attorney-client agreement. For personal injury cases, we are paid based on a contingency arrangement. This means that we get paid for our services only if we recover monies for you through settlement, verdict, or arbitration. Our contingency fee is typically one-third of the recovery. In addition to the one-third fee, we also are reimbursed from the recovery for any “out of pocket” expenses we have incurred e.g. charges to obtain your medical records, court filing fees, court reporter costs, witness fees, exhibits. (We typically front these costs for you during the pendency of the case.) If we do not recover anything, you do not pay us. In other words, we take on all of the risk of loss. This is why the fee is typically a full one-third of the recovery.
In cases other than for personal injury (such as insurance coverage claims or contract disputes), we typically charge an hourly rate. Our rates for such work are typically well below the rates of other firms doing the same work because we are a small firm with minimal overhead, compared to many of the other firms doing the same type of work. Just as important, we bring to the table our experience and knowledge developed earlier in our careers when we worked in larger, corporate law firms and represented insurance companies and corporations directly. We know how the “other side” thinks, which is a tremendous advantage for our clients.