Is Your Personal Injury Attorney Ripping You Off

Category: Others/ Misc

Presentation Description

An auto accident is an unfortunate and traumatic event. Many people are unsure of what to do and who to speak to when they have been in an auto accident. Here we discussed that is Your Personal Injury Attorney Ripping You Off?


Presentation Transcript

slide 2:

An auto accident is an unfortunate and traumatic event. Many people are unsure of what to do and who to speak to when they have been in an auto accident. Unfortunately many gravitate to the first name they see on an advertisement as a first contact. This can be a very big mistake in many cases for many reasons. First and foremost if you are injured seek care as soon as possible after the accident. A delay in care can be viewed as you not truly being injured by the insurance company. More importantly undiagnosed injuries can be life threatening. Your health comes first Secondly picking an attorney name off the internet or from an advertisement is hit or miss at best. Law offices spend thousands if not millions of dollars on advertising just to get your attention. The money for this advertising comes from past clients like you Some attorneys will charge 40 of gross settlement. Some will drop your case if a specific amount of property damage hasn’t been met. Do you know which attorneys do this At our auto injury treatment office we know which attorneys are likely to: drop clients for low property damage charge excessive fees or not return phone calls.

slide 3:

Notice it’s mentioned above that some attorneys take from “Gross” settlement. This is in contrast to “net” settlement. Here’s an example: 10000 settlement with 4000 in medical bills: Math with GROSS settlement: Attorney gets 4000 Medical bills are 4000 Client gets 2000 Compared to math with NET settlement: Medical bills are 4000 that leaves a “Net” of 6000. Attorney who takes a “net” settlement will get 2400 and the client will get 3600 Notice with the example above the difference between signing with an attorney who takes Net vs Gross is the difference between the client getting more money and the attorney getting more money Who was injured Who should get more money But wait There’s more In the above case scenario the medical bills are being paid out of the settlement. What if the client has Medpay Medical payments on their auto accident policy Let’s assume the client has 5000 medpay coverage so all the medical bills are paid for.

slide 4:

With Medpay coverage settlement amount the math is as follows: 10000 settlement 4000 to attorney 6000 to client It stays the same whether the attorney takes their fees from the gross or net settlement. That leads us to discuss another attorney trick When your medical provider charges your medpay they do not bill for filing the medpay with insurance. Some attorneys will advise their clients to let them file the medpay on the clients behalf. The attorney then charges the client hundreds of dollars to file for services provided by a doctor that would have filed the same claim for FREE In some cases the attorney will have the insurance company pay the fees to them and count it toward the settlement monies collected In that scenario the math can be present as: 10000 settlement with 400 medical bills 4000 medpay collected Total of 14000 recovered x 40 5600 to attorney leaving 4400 to client as medpay was paid but attorney fee was based on recovered funds. Tricky math but it results in more money to the attorney than if medpay had been billed for and paid directly to the medical provider In addition if the attorney charged 500 to bill the medpay the attorney would get 6100 and the client would get 3900 Again who was injured Who should get more money

slide 5:

So how does one go about negotiating the “money side” of an auto injury case Here is a summary of items to help you: • Your health comes first. Always seek medical care if you are injured • Have Medpay on your auto policy. It’s illegal for your premiums to be raised for using it. A good amount to have is at least the cost of your health insurance deductible. Medpay can only save you money. • Don’t fall for the attorney advertisements. Find a medical provider that treats auto injuries and can refer you to an attorney. • Don’t let you attorney charge you to file your medpay • Don’t let you attorney dictate the type of care you need. You can be “pain free without pills”TM. Some attorneys like to see prescription opiate medications prescribed as it helps the “value of your case”. This is often done with little or no regard to the patient’s health or the potential for addiction/dependence that comes with prescribing such medications. • Agree to attorneys taking “net” settlements getting paid after your medical and other bills have been paid rather than gross settlements. • Be cautious of big name law firms with large advertising budgets. The money for those advertisements came from other people’s injuries. If your accident isn’t catastrophic your case can get lost in the “big machinery” of a larger law firm • Beware of law firms where you speak only to paralegals or phone calls don’t get returned promptly.

slide 6:

There is also the question of: Do you really need an attorney That’s a difficult question to answer. Many people will cite data that using an attorney results in larger settlements. However when one takes into account the fees attorneys take from the settlement the math of using an attorney may not be to the client’s advantage in a “smaller case”. If the medical bills are paid for and the insurance company offers a “fair” amount why share 33- 40 with an attorney

slide 7:

Source Link Thank You

authorStream Live Help