Over 100 million lawsuits get filed in state courts every year. That number seems overwhelming, but only about 5% ever end up in trial. The rest settle outside of court.
Are you wondering whether the costs of pursuing your case are worth it? Are you asking yourself — how much does it cost to file a lawsuit, anyway? The answer is way more complicated than you’d think.
Read on to learn what factors influence the overall cost of your potential case.
The Type of Lawsuit You’re Seeking
The first factor that determines the cost of your lawsuit is the type of lawsuit you’re seeking. A small claims case will be far different from a class-action lawsuit. In the same line of thinking, a wrongful death case is different than a dog bite case.
In general, more complex cases cost more.
Your Attorney’s Payment Schedule
Your attorney’s payment schedule makes a massive difference, too. In fact, it’s likely the top factor you need to consider.
Some attorneys charge clients by the hour. If they’ll need to do a lot of leg work like collecting evidence, then that could add up fast.
Other attorneys work on a contingency fee basis. That means you won’t pay a dime unless you win your case. Often, your attorney will then get a percentage of your settlement amount.
The Complexity of Your Case
Like explained above, more complex cases cost more. That’s because there’s often more work involved and there’s a bigger payout at the end.
If you need a loan to afford a lawyer, learn how they work first. Be sure you’ll have time to get your settlement before your loan is due.
Who You’re Suing
Who you’re suing matters, too.
If you’re going up against a major business, it may cost more for representation. That’s because you can expect a strong defense from a party that can afford it.
The Likelihood of Settling
The longer your case drags on, the more money it will cost, too. That’s why the other party’s likelihood of settling will make a difference.
If the other party is willing to compromise, your case may not cost as much. If they’re going to end up pushing your case to trial, then you have to be willing to pay more.
You May Read This Also: 5 Reasons to Hire a Lawyer For a Personal Injury Case
So, How Much Does it Cost to File a Lawsuit?
So, how much does it cost to file a lawsuit? In a nutshell, it depends. All the factors above will make a difference in the actual cost of your lawsuit. It can cost you anywhere from $500 for a simple claim to thousands for a challenging case.
Now that you have a ballpark idea of what it will cost you, you can make an informed decision about seeking a claim.
Are you looking for more detailed information to help this be your best year yet? If so, then you’re in the right place. Keep browsing through our blog to see more of our favorite content.