How do I pay for a lawyer via contingency fees?
If you have been involved in a car accident that was not your fault, filing a personal injury claim is the only way to get monetary compensation for your damages and suffering.
But how do you pay for a lawyer? The most common way to pay for a lawyer in a personal injury case is through a contingency fee contract.
Here’s everything you need to know about contingency fees.
1- What Are Contingency Fees?
A contingency fee is a percentage of a settlement, verdict, or jury award. When a lawyer accepts a contingency fee, it means that the lawyer will be paid only if his or her client is awarded compensation. There is no initial charge for the lawyer's services. In fact, you never have to pay anything out of pocket for a contingency fee attorney.
Contingency costs are charged against the settlement or award recovered by a lawyer on behalf of the client. The contingency fee is deducted from the settlement when an attorney settles an injury claim with an insurance carrier. In court, the lawyer will prosecute the claims of the victim if the claim goes to a trial.
In contingency fee contracts, the lawyer will often pay for the expenses of litigation up front. The lawyer is paid only when you win compensation.
2- Why Use Contingency Fees?
In personal injury claims, contingency fees are quite popular. Contingency fees enable individuals who cannot afford a lawyer's hourly fee to file a claim without having to worry about legal costs in addition to medical bills and other expenses up front or out of pocket. Contingency fees allow people who have been injured to obtain competent legal counsel without having to worry about additional charges for legal services.
It is important that clients have access to a lawyer's full-time and broad experience. Limited client resources should not result in limited outcomes. Contingency fees are effective since the lawyer's interests are aligned with those of the client. The attorney has a “dog in the fight” to get the most money possible.
Contingency fees allow individuals to have their claims assessed by a lawyer at no charge. Many clients may not have the financial resources to pay for a legal claim evaluation. A legal claim assessment can be time-consuming and requires expertise in the case's strengths and flaws. Clients are able to get a legal evaluation prior to committing to a lawyer under the contingency fee agreement.
3- Prosecuting Your Case with a Contingency Fee Attorney
A lawyer has the obligation and responsibility to get the best outcome possible for their client. Throughout the claim, the lawyer will find ways to resolve the case in the best way possible for the client, and that can include settling the case prior to litigation, or filing suit and fighting the case through litigation. A client has to provide express consent to settle his or her claim.
4- Contingency Fee Agreements
You will sign a contingency fee agreement if you're working with a lawyer on a contingency fee basis. The contingency fee agreement will cover all work that your lawyer performs on the case.
The agreement will specify what expenses are covered and which ones aren't. The terms of the contract will be determined by your circumstances and case. Clients usually won't incur any out-of-pocket expenditures in most cases except in certain situations.
Many costs may be discussed in a fee agreement, including:
Expert opinion. If your claim needs an expert to look at the record, there may be associated expenses.
Court fees. If a claim goes to trial, there may court fees incurred.
Medical bills. At times, a lawyer will cover a portion of the medical bills associated with your treatment.
Costs of official certificates. Hospitals, insurers, and authorities may charge fees for authentic copies of records. These papers might be critical to a claim's success.
Learn more
If you or a loved one has been involved in an accident, it is important to know about the potential costs. Chaz Roberts Law firm can help.
We have years of experience with personal injury cases and are here for your questions 24/7 so you don't have to worry alone. Contact us today!
