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Legal Nuggets- True Costs of a Lawsuit
- Legal Fees- Your attorney will have to work much harder if you file a lawsuit. If you are paying on an hourly basis this will cost you directly. If you are on a contingency fee basis, the attorney will be much less willing to compromise his or her fee.
- Court and Litigation costs- You will have to pay additional fees for the following types of expenses if you pursue a lawsuit:
- filing fee (From $35 to $150) per case
- service fees (from $15 to $350) per party
- depositions (from $100 to $1,000 each)
- expert witness fees (from $ 125 per hour to $350 per hour)
- misc. fees (copying, postage, travel, report fees, etc.)
- Time- Filing a lawsuit often delays the settlement of your case for months or years, however, sometimes it speeds up settlement (it all depends).
- Emotional costs- Litigation can cost you tremendously in terms of emotional energy and well-being. The depositions are not “fun” like going to the dentist, for example. Having to answer all types of questions: in writing, orally in depositions, and orally on the witness stand is laborious, stressful, and sometimes embarrassing. If you pin all your hopes on winning a big verdict you will often be disappointed and the feeling of loss can be overwhelming. There is an emotional gain from settling: you get it over-with and you can MOVE-ON WITH YOUR LIFE.
- Uncertainty- One can Never be certain of the outcome of a court case, and this costs you in many ways: planning for the future is difficult; it causes anxiety; it makes it difficult to evaluate the cost/benefit of your actions; and it means realistically that you have risk, or, in other words, that you could suffer the consequences of a bad verdict.