A contingent fee is any fee for services provided where the fee is payable only if there is a favorable result.
In a contingent fee arrangement, the lawyer agrees to accept a fixed percentage (often one third) of the recovery, which is the amount finally paid to the client. If you win the case or accept a settlement, the lawyer’s fee comes out of the money awarded to you. If you lose, neither you nor the lawyer will get any money, but you will not be required to pay your attorney for the work done on the case.
On the other hand, win or lose, you probably will have to pay court filing fees, and the costs incurred by the attorney in pursuing pursuing your case.
It is important for you to speak with the attorney you are thinking about hiring about these matters so there is a clear understanding of the costs and fees you may be responsible for when your case is completed.
Contingency fee arrangements have several advantages
First, there are no up-front fees. If your car accident lawyer accepts the case on a contingency fee, you do not have to pay your lawyer up front, and you are not faced with legal bills while your case is still ongoing. This helps give those with lower incomes better access to legal assistance and the court system.
Second, there is an incentive for your personal injury lawyer to obtain a favorable result in your case. If they don’t get paid unless you get paid, your attorney will be highly motivated to do everything in their power in order to get you the best possible result.
Call Jonathan A. Garcia at Garcia Legal for a free consultation after your car accident and to learn more about contingency fee arrangements in your personal injury case .