When you’re dealing with the aftermath of an injury the last thing you need is the added stress of upfront legal fees. When looking into personal injury law firms you may find that the firm operates on a contingency fee basis. But what exactly does this mean for you? Let’s break it down.
What is a Contingency Fee?
A contingency fee is an arrangement where your attorney’s fees are contingent upon winning your case or securing a settlement. If you don’t win, you DON’T pay attorney fees.
How Does It Work?
Instead of charging hourly rates or requiring a retainer, the personal injury lawyer agrees to accept a percentage of the settlement or court award as their fee. This percentage is agreed upon before beginning work on your case.
The Benefits of a Contingency Fee
1. Access to Justice: Contingency fees make legal representation accessible to everyone, regardless of their financial situation.
2. Aligned Interests: The personal injury attorney only gets paid if you do, which means their interests are aligned with yours. They’re motivated to secure the best possible outcome for your case.
3. No Upfront Costs: You don’t have to worry about paying legal fees while dealing with medical bills or lost wages.
4. Reduced Risk: If your case isn’t successful, you’re not left with a hefty legal bill on top of your other expenses.
What’s Typically Covered With a Contingency Fee?
The contingency fee usually covers the attorney’s time and expertise. However, there may be other costs associated with your case, such as:
– Filing fees
– Expert witness fees
– Medical record retrieval costs
– Deposition expenses
Depending on the personal injury firm you choose, they will discuss how these costs are handled during your initial consultation.
What Percentage Will My Personal Injury Lawyer Take?
When working with a personal injury lawyer who works on a contingency fee basis, you may wonder about the percentage they take if you win your case. The exact percentage can vary depending on the complexity of your case and whether it goes to trial. Typically, contingency fees range from 33% to 40% of the settlement or award.
Your injury lawyer should discuss this with you and agree on the specific percentage before working on your case.
Find a Personal Injury Law Firm Who Are Transparent
Find a personal injury law firm that believes in complete transparency all around, especially when it comes to fees. Before you sign any agreement, make sure the attorney explains:
– The exact percentage they will receive if your case is successful
– How case expenses will be handled
– Any other potential costs you might incur
You should also find a personal injury attorney who provides regular updates on your case, including any settlement offers, so you’re always informed about your potential compensation.
Is a Contingency Fee Right for You?
For most personal injury cases, a contingency fee arrangement is beneficial. However, every situation is unique. During your initial consultation, your attorney should discuss your case and help you understand if this fee structure is the best choice for your circumstances.
Our Personal Injury Lawyer’s Commitment to You
At Freese and Goss, we’re committed to making quality legal representation accessible to all. Our contingency fee structure allows us to fight for your rights without adding financial stress during an already difficult time.
Remember, the law limits the time you have to file a personal injury claim, so don’t wait. Contact us today for a FREE consultation. Let us explain how our contingency fee arrangement can work for you, allowing you to seek the justice and compensation you deserve without any upfront costs.
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