We work off pursuant to a contingency fee agreement. No costs up front required.
A contingency fee is a payment arrangement between a lawyer and their client, commonly used in personal injury cases and some other civil litigation matters. Under a contingency fee agreement, the lawyer’s fee is contingent upon the successful outcome of the case. This means that the lawyer will only be paid if they secure a favorable settlement or win a judgment at trial on behalf of the client. If the case is not successful, the lawyer does not receive a fee, and the client is not required to pay the attorney for their services.
Here’s how a contingency fee works:
No Upfront Payment: With a contingency fee arrangement, the client does not need to pay the lawyer any upfront retainer or hourly fees. This can be particularly beneficial for clients who may not have the financial resources to cover the costs of legal representation.
Percentage of Recovery: Instead of charging an hourly rate, the lawyer’s fee is typically a percentage of the amount recovered in the case. The exact percentage may vary based on the type of case, the complexity of the matter, and the attorney’s experience. Common percentages range from 25% to 40% of the total recovery.
Reimbursement of Expenses: In addition to the contingency fee, the client may still be responsible for certain case-related expenses, such as court filing fees, expert witness fees, medical record fees, and other out-of-pocket costs incurred during the course of the case. Some lawyers may cover these expenses upfront and deduct them from the final settlement or judgment, while others may require the client to pay these expenses separately.
Consultation and Evaluation: Before entering into a contingency fee agreement, the lawyer will typically evaluate the case during an initial consultation. They will assess the merits of the case, the potential for success, and the estimated value of the claim. If the lawyer believes the case is strong and viable, they may offer to represent the client on a contingency fee basis.
Fee Payment After Success: If the lawyer successfully resolves the case in favor of the client, they will receive their contingency fee as a percentage of the total recovery. The fee is usually paid out of the settlement or judgment amount received by the client.
Contingency fee arrangements provide an opportunity for individuals with valid legal claims to access quality representation without upfront financial burdens. They also incentivize the lawyer to work diligently on the case, as their compensation is directly tied to the outcome. Before entering into a contingency fee agreement, it’s essential for both the client and the lawyer to fully understand the terms and expectations of the arrangement. It’s also advisable to discuss any additional expenses that may be the client’s responsibility.