In the previous part of this article series, we discussed How Much Would You Spend On A Personal Injury Lawyer? This article let us talk about why choosing to pay your personal injury lawyer through a contingency fee system would be a good decision to make.
To start, let us go back to the definition of a contingency fee from Cornell Law School, to wit:
“A contingency fee is a form of payment to a lawyer for his/her legal services. In contrast to a fixed hourly fee, in a contingent fee arrangement lawyers receive a percentage of the monetary amount/her client receives when they win or settle their case. That is, in a contingency fee agreement, the lawyer only receives compensation if the lawyer has successfully represented the client. Further, the amount the lawyer receives is contingent upon the result the lawyer obtains and often on the phase of litigation in which the dispute settles. Contingency fees are particularly common in personal injury cases, where the successful lawyer is awarded between 20% and 50% of the recovery amount.”
Generally, we can break down the characteristics of a contingency fee in the following points:
The client pays the lawyer a percentage of the monetary amount he receives as settlement
In an arrangement where the client and the lawyer agree to pay in a contingency fee system but the client only pays the lawyer the agreed-upon percentage of the monetary award that includes the upfront costs and all of the other costs related to the case on receipt of the client of the settlement.
The client does not pay the lawyer anything until the case is successful
The client will not pay a lawyer anything until the case is successful and such payment is based on the percentage that is awarded to the client by the court. Generally, this would be around 20% to 50% of the settlement amount or the court award amount depending on the agreement of the parties.
The client does not have to worry about the costs and the commitment that the lawyer would have to the case
With a contingency fee system, the client does not even have to worry about the costs associated with the case because the payment is dependent on whether or not the lawyer is successful in getting a settlement or getting the right payment in court.
What should be my expectations if I pay a lawyer through a contingency fee system?
If you decide to pay your lawyer through a contingency fee system, you need to expect the following:
No upfront costs
You should expect that there would be no upfront costs related to the arrangement. The client is not expected to shell out money. The client is also not expected to pay anything.
Clear contract terms
The contract of a contingency fee basis is one where the risk is more with the lawyer than with the client. Due to this risk, there are clear contract terms that
No surprise costs
There are no surprise costs when it comes to a contingency fee system, especially for those that are based on a percentage of the winnings of the client. This means that the client should not have to worry about surprise costs.
Written proof of success
The lawyer will be required by the contract to provide written proof of success.
Payment of Lawyer after award
The lawyer will only be paid after the award. This makes the contingency fee system a great choice for the client who wants to fight for his rights with a personal injury lawyer.
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Here at Haque Legal, we always have your back. Make sure that on your first free consultation we tell you everything that you need to know about your case as well as the cost and the expenses that would be associated with the filing of your case.
The consultation is free for the first time because we understand that you need to at least have that guidance coming from a reputable law firm and lawyer to assess your case. If you have a personal injury case and you need a lawyer to handle it you can always contact our law firm and we can talk about your situation and the best way that we can handle it especially in terms of the expenses.
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The article that you have read is based on general applications of the law. It is not legal advice and it is not to be construed as any legal consultation with the firm. No client-attorney relationship is created when you read the articles we have provided.
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