sears bankruptcy

Sears Filed Bankruptcy – Should You?

News today made it very clear that Sears filed bankruptcy. As a bankruptcy law firm, any time we see a corporation filing bankruptcy, we know it’s a business decision. When it comes to your personal bankruptcy filing, we encourage you to think of it as a business decision as well. This means it’s time to set aside your emotions and do what makes financial sense for you and your family.

Taking The Emotion Out Of Bankruptcy

When we say you should set aside your emotions, we simply mean that your family’s financial health should come before any guilt you feel for not paying back creditors. It also means your family’s health is more important than any guilt you feel in general over filing bankruptcy. Filing bankruptcy can be the smartest financial decision you’ll make for you and your family. It provides a fresh start and you can build on that fresh start.

Picture The Future For Your Family

After years of living paycheck to paycheck, we know it’s hard to imagine a future for you and your family that does not involve scraping by. The truth is, that future does exist. Getting out from credit card debt and other types of debt is a huge step in the right direction. Imagine being able to pay all of your bills each month and have some left over for savings, retirement, or family outings. The federal bankruptcy code offers powerful relief from debt, while letting you keep your home and car by using the Bankruptcy Exemptions.

Learning From The Sears Bankruptcy

The Sears bankruptcy filing reminds us that bankruptcy can be a business decision. In fact, many businesses bounce back after bankruptcy, to be healthier than ever. We’ve seen the same from the clients we work with. Quite often, a few years after filing bankruptcy, we speak with clients who are purchasing a new home and who report their financial lives are incredibly healthy. We can hear it in their voices that they are still happy they chose to end the suffering and file bankruptcy. That makes it all worthwhile for us.

Speak With A Bankruptcy Attorney Today

If you have questions about bankruptcy, call us at 704.749.7747. Or click for a FREE BANKRUPTCY CONSULTATION and we’ll reach out to you. We look forward to helping you get answers to questions. We also know you have choices. We hope you choose to Recover With Us.

Does Bankruptcy Include Car Loans

How Much Do You Get For Pain And Suffering?

If you’re wondering how much do you get for pain and suffering in a personal injury settlement, you’re not alone. This is one of the most important concerns of all new personal injury clients. While pain and suffering can be difficult to estimate in a personal injury claim, There is a rather basic way to determine what you received for pain and suffering. This article will help to try to answer the question “How much do you get for pain and suffering?” If you’d like to speak with a personal injury lawyer about pain and suffering, you can call 704.749.7747 or click for a FREE PERSONAL INJURY CONSULTATION and we will reach out to you shortly.

What Is Pain And Suffering Worth?

Placing a value on pain and suffering is challenging. Most clients agree that there is no amount of money which would make them happy with the accident. In other words, what they really wish is that the car accident never happened. That being the case, the second best option is to receive an amount of money which you feel fairly compensates you for what you’ve been through. Unfortunately, at the time of settlement, most clients are still hurting from their car accident, or concerned about lingering pain and suffering they might experience after settlement.

For lack of a better way to calculate pain and suffering, in most cases your pain and suffering will be some multiplier of the cost of your medical treatment. Your personal injury attorney will argue the total value of your treatment should be used in that equation, and the insurance adjuster will argue the actual end cost of the treatment should be used. This often results in very different proposed settlement amounts. Below, is an example:

Example 1:

Original Medical Bills: $100,000
Payments By Health Insurance: $8,000
Adjustments (write-offs): $92,000
End Balance: $0

In the above example, your personal injury attorney will argue that the medical billing being considered should be the $100,000, because this is the amount of the bill. The insurance adjuster will argue the $8,000 paid by health insurance is that amount that should be used. Their explanation will be that the medical treatment, in the end, only cost $8,000. If the parties are multiplying the medical billing by 2, you can see that the end numbers will come out very differently.

How Will I Know What I Received For Pain And Suffering?

In the end, the amount of money remaining after all medical bills are paid, and after lost wages are reimbursed, represents your pain and suffering. Simply put, this is the amount of money above and beyond expenses, which you are receiving from the settlement. One thing you will notice in the demand package your personal injury attorney sends out, is that typically we do not ask for a specific amount for pain and suffering. Using our example above, whatever amount we ask for above and beyond your medical bills and lost wages usually represents our theory surrounding the value of the pain and suffering you’ve experienced. If you have Medical Payments coverage on your own policy, this could also dramatically changes things in your favor.

What About Future Pain And Suffering?

Once you reach a settlement with an insurance company, that settlement is final. Therefore, you and your personal injury attorney should take into account the lingering effects of the car accident or slip and fall, when settling on your demand request. But don’t worry, your personal injury attorney will walk you through this step by step, and explain each part of the process along the way.

Speak With A Personal Injury Attorney Today

If you have questions remaining about “How much do you get for pain and suffering?” you should speak with a personal injury lawyer today. The call is free and you deserve answers. We would love to hear from you. You can call us at 704.749.7747 or click for a FREE PERSONAL INJURY CONSULTATION and we will reach out to you shortly. We know you have choices. We hope you choose to Recover With Us.

Bankruptcy And Gifts

This article will discuss both the giving of and the receiving of gifts in bankruptcy. If you’d like to speak with a bankruptcy attorney today, call 704.749.7747 or click to request a FREE BANKRUPTCY CONSULTATION and we will reach out to you.

Receiving Gifts In Bankruptcy

Most gifts you receive can be kept. The key to a successful bankruptcy is disclosure. If you receive a gift prior to filing bankruptcy, you should disclose that gift. Generally, that gift will either be an asset (Diamond Ring), or income (Cash). When it comes to bankruptcy and gifts, you can generally use your Bankruptcy Exemptions to protect your assets from the bankruptcy trustee. If the gift is considered income for bankruptcy purposes, it will need to be counted and included in the Means Test calculations.

Gifts received after you file bankruptcy are typically not part of the bankruptcy estate, and therefore not a problem. A general exception would exist if you became entitled to the gift before you filed bankruptcy. In that case, the gift should be disclosed in your bankruptcy filing, and an exemption can be used to protect it—this, even though you haven’t received the gift yet at the time of filing.

Giving Gifts In Bankruptcy

If you give gifts to others before you file bankruptcy, there are instances where those gifts can be deemed Fraudulent Transfers. Fraudulent transfers are subject to being ‘undone’ by the bankruptcy trustee. In that case, the trustee can pursue the person who received the gift in order to have them turn it over to the court. Or, in the alternative, you can offer to pay the value of the gift to the trustee to settle the issue. As it relates to bankruptcy and gifts, this is obviously a horrible outcome, so the key to avoiding a situation like this is disclosing all gifts to your bankruptcy attorney before you file. Your bankruptcy attorney may recommend you wait a certain time to file, so that the gift is no longer an issue. Lastly, your bankruptcy attorney may recommend disclosing the gift with an explanation to the trustee as to why it should not be considered a fraudulent transfer.

Bankruptcy and Gifts Are Not Usually A Problem

For most people, filing bankruptcy is done out of necessity. It’s very infrequent that a client is giving away assets just before filing bankruptcy. Typically, clients have very few assets to their name when they file bankruptcy. If you’re in doubt about a transaction, simply tell your bankruptcy attorney and you can discuss how to address the item in your bankruptcy filing. Remember, if you’re filing bankruptcy and gifts are a concern, disclosure is the key.

The Statement of Financial Affairs is the part of the bankruptcy petition where you disclose gifts. The safe assumption is to disclose any gifts exceeding $600 (total) over the past 4 years to any individual. The same is true of charities, though the threshold for charitable allowances is much greater and again, typically not a problem.

Speak With A Bankruptcy Lawyer

If you’d like to speak with a bankruptcy attorney today, call 704.749.7747 or click to request a FREE BANKRUPTCY CONSULTATION and we will reach out to you. We know you have choices. We hope you choose to Recover With Us.

does bankruptcy clear taxes

Does Bankruptcy Clear Taxes?

If you’re wondering does bankruptcy clear taxes, you’ll need to know a few things before you can decide. This article helps to answer the question “Does bankruptcy clear taxes”, and we hope it’s helpful. We’re available to discuss this issue with you at no charge—simply call us at 704.749.7747 or click to request a FREE BANKRUPTCY CONSULTATION.

Taxes In Chapter 7 Bankruptcy

The desired result in a Chapter 7 is a Discharge. The discharge means the debt goes away in bankruptcy. In order to receive a discharge of taxes in Chapter 7, a few things need to be true:

  • Your taxes must be at least 3 years old. This is usually the main obstacle. The age of the taxes depends upon the first date they were due. For instance, taxes for 2017 were first due April 15th, 2018. As of April 15th, 2021, those taxes turned 3 years old. If you received an extension on filing until October 15th of 2017, that would be your date to use as the starting date.
  • Only Income Taxes are covered. Some clients owe Sales and Use tax to the federal government. That type of tax is not discharged in bankruptcy. Only income tax is eligible to be discharged.
  • Tax returns must be filed. The date for filing the tax return related to the tax debt is 2 years before filing the bankruptcy. In the example above, even though the taxes are 3 years old, if you had not filed a tax return for those taxes until 1 year before filing bankruptcy, you would not receive a discharge of those taxes.
  • 240 Day Rule. There is a 240 day rule. Simply put, if the IRS assessed the tax, they must have done so at least 240 days before you file bankruptcy.

So, does bankruptcy clear taxes? Well, if all of the conditions above are met, the answer should be YES. One exception relates to an IRS LIEN FOR TAXES. Chapter 7 will not extinguish an IRS lien. So, even if the taxes are cleared by bankruptcy, you’ll still be left with a tax lien which attaches to real estate you own. When that real estate is sold, the tax lien will still need to be paid.

Filing Taxes Before Bankruptcy

While filing your taxes before bankruptcy is often necessary, you can easily see that the 2 year rule will be in violation and would keep some taxes from being cleared in bankruptcy. In order to file Chapter 7, you must have filed taxes for the 2 prior years before filing bankruptcy. That requirement has to be met whether those taxes will be discharged or not by bankruptcy.

Does Bankruptcy Clear Taxes In Chapter 13

One solution for taxes which won’t be cleared in Chapter 7 is to file Chapter 13. In Chapter 13, your existing tax debt which does not meet the requirements above, will be paid back to the IRS on a 5 year plan, with very low or no interest, and without penalties. Your Chapter 13 plan will also discharge taxes which do qualify above, together with other unsecured (credit cards, medical bills) debt. Chapter 13 is also routinely used to catch upon on missed mortgage or car payments. We’re happy to discuss Chapter 13 with you if you like.

Does Bankruptcy Clear Taxes On The Day I File?

No. The taxes are not cleared until you receive your discharge. In a Chapter 7, this means the trustee must close the case after reviewing it, and the court must enter your discharge. Typically, you receive your discharge about 120 days after filing your bankruptcy. Soon after filing, you will attend your 341 meeting with our attorney.

Speak With A Lawyer About Taxes In Bankruptcy

If you’d like to get clarity about anything in this article, or speak with an attorney about your bankruptcy options, simply call us at 704.749.7747 or click to request a FREE BANKRUPTCY CONSULTATION. We know you have options. We hope you choose to Recover With Us.

Can I File Bankruptcy

Can I File Bankruptcy?

If the question is “Can I file bankruptcy?” the answer is always the same…. “It depends!”

Whether you can file a successful bankruptcy depends on a few factors. If you’re a consumer considering filing bankruptcy, this article will help you decide if you can file bankruptcy. Generally, the choices are between Chapter 7 and Chapter 13. Chapter 7 is a faster process and offers a complete discharge of most debt. Chapter 13 is an option for those of us who have more income or assets than are allowed in a Chapter 7, or for those of us who are behind on a car or mortgage and wish to use Chapter 13 to ‘catch up’ on those loan payments.

The Means Test

Sometimes the more appropriate question is “When can I file bankruptcy?” The reason for that is The Means Test. In order to qualify for Chapter 7, you need to pass The Means Test. For the most part, The Means Test takes a look at the 6 months of income prior to filing. As a result, some individuals choose to wait until a few recent months of higher income drop off, in order to qualify. This is especially true if your income fluctuates from month to month, or is seasonal. For instance, if you make more money in the summer than in the winter, you may not qualify for The Means Test in September. The reason would be that The Means Test would consider the 6 months from September backward. However, if you file in April, The Means Test would consider the 6 months from April backward—the months where you did not have much income. So, timing can help answer the question “Can I file bankruptcy?”

Chapter 13

If you don’t qualify for a Chapter 7 because you have too much income, or because you have too many assets to protect in a Chapter 7, then you can consider filing a Chapter 13. There are a few articles on our site which discuss Chapter 13. Generally speaking, a Chapter 13 lasts for 36 or 60 months, and requires you to pay a small percentage of your debt over that period. When you make your final payment, the remainder of the debt is discharged, or forgiven. Your Chapter 13 payment will be based in part on your ability to pay. This means the court will ask your attorney to submit a budget showing monthly income and expenses. The budget will reflect something called Net Disposable Income. Your Net Disposable Income will typically be the proposed payment in Chapter 13, representing the amount to go to your creditors.

Most Chapter 13 plans pay back a very small percentage of your unsecured debt. For example, if you have $100,000 in credit card debt, and you have a 5% plan, this means that over the course of 60 months, you would pay back $5,000.00. While there are other considerations, this means that roughly $85 a month from your Chapter 13 payment will be going to your credit card debt. Once you complete your final payment, the remaining $95,000 in credit card debt will be discharged.

Further Reading

Can I Keep Credit Cards In Bankruptcy

The Costs of Bankruptcy

Speak With An Attorney Today

If you’d like to determine an answer to the question “Can I file bankruptcy?” speaking with a Charlotte bankruptcy attorney is the next step. The call is free and we’re here to help. You can reach us at 704.749.7747 or click here to request a FREE BANKRUPTCY CONSULTATION. We know you have choices. We hope you choose to Recover With Us.

benefits of chapter 7

Downside Of Filing Bankruptcy

Clients routinely ask “What is the downside of filing bankruptcy?” While there certainly is a downside to filing bankruptcy, a thorough review of most clients’ financial situation reveals that a bankruptcy is the right financial move for them. This article will the downside of filing bankruptcy, but also help to put it in context. As a Charlotte bankruptcy attorney, my goal is to help you decide what’s best for you and your family.

Effect of Bankruptcy On Your Credit Score

Bankruptcy will no doubt affect your credit score. However, this is usually only a concern for those with perfect a perfect credit score coming into a bankruptcy. That situation is rare. More often, a client’s credit score is already low due to late payments, missed payments, repossessions, foreclosures, or other financial issues.

The good news is that for most individuals, your credit score one year after filing bankruptcy will be as good as it was on the day you filed. In other words, one year after filing, your credit score has already recovered and you no longer have the debt issues you had prior to filing. From there, it’s easy to re-build your credit if you’re intentional about it. Our firm always offers tips on rebuilding credit after bankruptcy, and they do make a difference.

Effect of Bankruptcy On Credit Cards

When you file bankruptcy, you can’t keep “a few credit cards”. All of your credit cards will be cancelled upon filing. The good news is you’re no longer living on credit cards. A common question arises regarding having a credit card for emergency purposes. Most clients report to us that credit card companies offer them credit soon after they receive their discharge in bankruptcy. The reason is the bankruptcy filing improved your Debt To Income ratio and made you a great candidate for credit cards. Additionally, creditors like extending credit to individuals who recently filed bankruptcy because they know you’re more likely to repay the debt. After all, you can’t file bankruptcy again for a long time.

Effect of Bankruptcy On Getting A Mortgage

It’s true, you won’t be able to obtain a mortgage for two to four years after bankruptcy. However, you have to ask yourself if you could obtain a mortgage with your current credit score and debt situation. Most clients can’t. So while the intention to purchase a home is a good one, filing the bankruptcy is actually the first step in the right direction. During the two year waiting period, you can save for a down payment or pay down student loans, or contribute to your 401k. You won’t fall behind by filing bankruptcy.

Not All Debt

Bankruptcy does not discharge all debt. Some debt takes priority and survives a Chapter 7 or needs to be paid in full in a Chapter 13. For instance, Child Support, Recent Taxes (less than 3 years old), Mortgage Arrears, and Student Loans. Clients report that by filing bankruptcy and eliminating credit card debt and medical debt, as well as other types of debt, it enables them to focus on re-paying the types of debt which do not go away with a bankruptcy filing.

Speak With An Attorney Today

We know deciding to file bankruptcy is an important choice. We tell some clients it’s not a good choice for them. We’re happy to hear your story and help you decide. We know you have choices. We hope you choose to Recover With Us. If you’d like to speak with an attorney today, call 704.749.7747 or click for a FREE BANKRUPTCY CONSULTATION and we’ll give you a call or reply to your email.

Car Accident

Medical Payments Coverage

Medical Payments coverage is coverage you may have on your own auto insurance policy. If you have Medical Payments coverage, it will cover some or all of your medical bills incurred as the result of a car accident. This is true whether the accident was your fault or not. Medical Payments coverage can make all the difference for you as an injured party. First, you may not have health insurance, or may have a high deductible; if so, Medical Payments coverage will pay for bills which your health insurance may not cover. Second, the Medical Payments coverage can supplement any health insurance you do have, and can help you recover co-pays and out of pocket expenses. Lastly, even if the accident is not your fault, you may not be able to recover from the at-fault driver. In that case, the Medical Payments coverage will help absorb some of the financial impact of the accident.

The Reasonableness Factor

The language of your auto insurance policy will govern what your Medical Payments coverage will pay. It’s not always as easy as simply submitting your bills to your insurance carrier. Insurance companies often limit their responsibility to reimburse only those medical treatment expenses they deem to be “Reasonable”. Our experience with handling Medical Payments claims has revealed that insurance companies will often exclude the following from reimbursement:

  • Experimental treatments which are not designed to serve a medical purpose;
  • Acupuncture
  • Purchases of equipment which not primarily designed to serve a medical purpose, such as a home gym for rehabilitation

In addition to the treatment being reasonable, the cost of the treatment must also be reasonable. It is not unusual to receive a response from an insurance carrier indicating they will cover a percentage of a chiropractor’s fees, and a refusal to reimburse for the remainder. Quite often, the insurance company will “red line” the chiropractor’s treatment notes, indicating what the insurance carrier believe to be unreasonable treatment. Similarly, they may red line the chiropractor’s bill in an effort to indicate what they believe to be excessive treatment. If you have questions about chiropractic treatment, our article on Charlotte Chiropractors may help answer those questions.

Fortunately for the injured party, there is a presumption of reasonableness in North Carolina, established in N.C.G.S. Sec. 8-58.1. While an insurance company can rebut this presumption, your personal injury lawyer should be able to persuade them that making full payment on the Medical Payments reimbursement submission is preferable to facing a lawsuit over Medical Payments coverage.

Your Responsibilities

Your insurance policy typically requires some responsibilities or duties which you must uphold. You will be asked to cooperate with any investigation into the claim. You will also be asked to assist the insurer should they request medical records to substantiate the Medical Payments request. You may also be asked to sign a HIPAA release in the event your insurance provider wants to obtain medical records and billing on their own.

Speak With A Personal Injury Lawyer

If you were in a car accident, or if you were injured by a vehicle as a passenger, pedestrian or cyclist, you may be entitled to Medical Payments coverage. We recommend you consult with a personal injury lawyer today. You’ll get your questions answered and we’re happy to help. We can be reached at 704.749.7747 or you can click to request a FREE PERSONAL INJURY CONSULTATION, and we will reach out to you shortly. We know you have options. We hope you choose to Recover With Us.

 

bankruptcy how long discharge

How Long Does Bankruptcy Take?

This article helps answer the question how long does bankruptcy take. The answer depends upon a few factors. Primarily, they are:

  • How quickly you can deliver documentation to your bankruptcy attorney
  • Whether you are choosing a Chapter 7 or a Chapter 13
  • Reasons which may exist to delay your filing

Delivering Documentation For Bankruptcy

Your ability to deliver documents can change the answer to the question “How long does bankruptcy take?” Most bankruptcy attorneys will accept documentation in electronic or paper format. Clients are usually pleasantly surprised at how easy it is to meet the documentation requirements, which shortens how long it takes to prepare to file for bankruptcy. While there may be more documentation required, generally you will need to provide:

  • Drivers License
  • Social Security Card
  • Vehicle Registration
  • Two years of tax returns
  • Six months of bank statements
  • Six months of pay stubs or proof of income

Once your bankruptcy attorney has this information, they can review it to be sure the bankruptcy petition they are drafting matches the activity on your accounts and tax returns.

Chapter 7 or Chapter 13

Chapter 7 bankruptcy results in a discharge roughly 120 days after the filing of the bankruptcy. Chapter 13 bankruptcy is a years-long bankruptcy where you make a monthly payment for 36 or 60 months. You receive a discharge after making your last payment. Your bankruptcy attorney will be able to help you decide between Chapter 7 and Chapter 13. Generally speaking, you must pass the Means Test to qualify for Chapter 7. Most clients who choose Chapter 13 do so because of one of the following:

  • Too much income
  • Too many assets
  • A desire to ‘catch up’ on a mortgage or car loan

After a free phone consultation, our office can typically predict for you whether you will need to file Chapter 7 or Chapter 13. From there, you can decide which route is best for you. If neither of the two options is appealing, we can always discuss the option of pursuing debt settlement instead of bankruptcy.

Reasons To Wait To File Bankruptcy

While the bankruptcy rules are very powerful in favor of the debtor, sometimes it makes sense to wait to file your bankruptcy. Usually, these waiting times are well worth it, and relatively easy to spot if you’ve been honest with your bankruptcy attorney. Because the bankruptcy rules look at a specific window of time regarding your financial activity, waiting an extra month or two to file can sometimes make the difference between a smooth and easy bankruptcy, or a rocky road. Here are a few reasons your bankruptcy attorney may recommend you wait to file:

  • Too much income in the past 6 months
  • A transfer to a friend or family member in the past year
  • A large payment to a creditor in the past 90 days
  • A new loan taken out in the past 90 days
  • Credit card use in the last 90 days beyond day to day purchases (Luxury items, etc.)

Hearing that you need to wait to file your bankruptcy may be frustrating. It certainly changes the answer to the question “How long does bankruptcy take?” if your attorney is recommending waiting, for the sole purpose of letting a financial item ‘drop off’ of your timeline. However, taking the advice of your bankruptcy attorney prior to filing will pay off for you in the end.

Speak With A Bankruptcy Attorney Today

We would love to help you get an answer to the question “How long does bankruptcy take?” A quick phone call with a bankruptcy attorney can put your mind at ease and help you understand the options. The path to financial recovery is usually very smooth. You’ll find most of your fears about bankruptcy are unfounded. We’d love to help you make a decision. You can reach us at 704-749-7747 or click for a FREE CONSULTATION and we’ll reach out quickly to make contact. We know you have choices. We hope you choose to Recover With Us.

Further Reading

How Does Bankruptcy Affect My Spouse?

Will The Bank Freeze My Bank Accounts In Bankruptcy?

court approved child settlement

Child Personal Injury Settlements In North Carolina

If a child is injured in a car accident or slip and fall in North Carolina, they are commonly entitled to the same rights as adults. One major difference in the outcome of a personal injury claim for a child or minor, is the distribution of funds to the child.

Child Settlements Without Court Approval

In small child personal injury settlements, often the settlement can be reached without court approval. Truthfully, this is a question of risk tolerance for both the insurance company and the personal injury law firm. The fear is that if a child settlement is reached without court approval, the child may later claim they were not treated fairly by the settlement. In most cases, insurance companies feel they bear most of this risk. As such, the insurance company will typically decide whether they are comfortable settling without court approval. A settlement of $5,000.00 or more by the insurance companies we work with regularly, typically requires court approval.

In child settlements without court approval, the funds are delivered to a parent or guardian, with the assumption the parent or guardian will use the funds in the best interest of the child. While this saves time and cost as compared to a child personal injury settlement requiring court approval, it is not always possible when the settlement amount is higher.

Child Personal Injury Settlements With Court Approval

In those cases where the insurance company requires it, or the attorney feels it is advisable, a settlement can be reached by the parties and then be submitted for court approval. In doing so, the personal injury lawyer appoints a Guardian Ad Litem to represent the child in court. Typically, this is one of the parents. A lawsuit is then filed in the name of the Guardian Ad Litem, for the benefit of the child. The primary purpose for the lawsuit is to gain access to the court system so that the settlement can be stamped as approved by the court.

If the parties are agreeable, the personal injury attorney will submit medical bills and records, together with all fees. The parties will communicate to the judge that they are in agreement. The judge will review the records and approve the settlement as proposed, or recommend changes.

Disbursement Of Funds In Child Settlements

The court will generally hold the proceeds from a child personal injury settlement, to be later distributed to the child upon reaching the age of majority (18 years old). While there is a small fee for the court to do so, the interest on the money usually covers that fee. If funds need to be disbursed from the settlement to cover ongoing medical costs, a provision for doing so may be built into the court approved settlement.

Further Reading

Do I Have A Personal Injury Claim

Child Injury Lawyer In Charlotte, NC

Speak With A Personal Injury Lawyer Today

If your child was injured in an accident and you’d like to speak with a lawyer, we’re here to help. We advise clients every day about their rights in personal injury matters. We’re happy to hear your story and help you understand your options. You can call us at 704.749.7747 or click for a FREE CONSULTATION and we’ll call you shortly. We know you have choices. We hope you choose to Recover With Us.

Before clients decide to hire a personal injury lawyer, they want to know “What does a personal injury lawyer cost?” The answer to this question can often mean the difference between hiring a personal injury lawyer or attempting to settle a claim on your own without a personal injury lawyer.

Every Personal Injury Law Firm Is Different

It’s crucial for you to know that every personal injury lawyer charges clients differently. That being said, you will commonly find that a personal injury lawyer will only cost you something if they are able to get a settlement or a jury verdict for you. However, even then, whether a lawyer or law firm charges a percentage (and what percentage) can make all the difference. The answer to the question “What does a personal injury lawyer cost?” will be found in each personal injury lawyer’s Engagement Letter. The Engagement Letter is where you will find not only what the lawyer is committing to do for you, but also what their fees are for that work. Lastly, it should be very clear in the Engagement Letter whether you owe the personal injury lawyer if they fail to obtain a settlement or jury verdict for you.

Simply Ask Your Personal Injury Lawyer About Their Fees

Every lawyer should feel comfortable discussing fees with you. Additionally, a lawyer should be able to give you a clear answer when it comes to questions about fees. If you can’t get a clear answer, it’s probably a good sign you should speak with another personal injury lawyer. If your lawyer is paid a percentage of your total settlement or jury verdict, you’ll want to know what percentage. You’ll also want to know if you owe them anything if they are unable to get a settlement or jury verdict for you. An example might be where a personal injury lawyer is only owed a percentage if they are able to obtain a settlement for you. However, if they fail to obtain a settlement or jury verdict for you, the Engagement Letter may state that you must reimburse the attorney for any out of pocket expenses. Lastly, out of pocket expenses can be substantial if the lawyer paid for an expert to give an opinion about your accident, or paid a medical doctor for their opinion in a deposition about your injuries. All of these aspects will help you determine “How much does a personal injury lawyer cost?”

When Does My Personal Injury Lawyer Get Paid?

Your personal injury lawyer most often will get paid the same time you get paid. In the case of a settlement, the insurance company will send a check. The attorney will deposit the funds into their trust account. Then, a settlement statement will be drafted. It will show where every penny is going. Lastly, it will include the attorney’s fee in the list of payments.

Speak With A Personal Injury Lawyer Today

If you call our firm and ask “How much does a personal injury lawyer cost?” we can only answer for our firm. That being said, we would be happy to discuss our fees with you, and help to provide you some guidance. If you’ve been injured in a car accident or slip and fall, we can help you understand your rights. The call is free and we’re here to help. You can call us at 704.749.7747 or click for a FREE CONSULTATION by sending us a quick request.