Understanding Contingency Fee Arrangements

October 19, 2020

If you suffered injuries and losses related to a car accident, you may feel overwhelmed by the amount of information you need to provide to the insurance company, how you will repay your medical bills, and how to move forward regarding the property damage, lost wages, possible loss of future wages, possible future medical bills and more. In many cases, victims of someone else’s negligence often feel unsure of all the steps they need to take to protect their legal rights and receive the compensation they deserve for their injuries and losses. As a victim of someone else’s negligence, you have a legal right to receive representation regarding your personal injury claim. Many victims already feel financial stress regarding a personal injury due to the fact that they are unable to return to work resulting in lost wages. However, it is important to know that most personal injury attorneys work on a contingency fee basis. Contingency fee allows victims to receive the legal representation they deserve without making any upfront payments. Learn more about your legal rights and contingency fees below.

 

Defining “Contingency Fee”

 

A contingency fee is when an attorney receives compensation for services only after their work is completed, and there is a favorable result for the victim. essentially, a contingency fee allows a victim of a personal injury to receive legal representation without making any upfront payments. A victim, therefore, will only pay an attorney if they receive a favorable result regarding a settlement from an insurance company or compensation from a legal claim after the entire legal issue is resolved. When a victim receives there settlement check or compensation from the court, the attorney will then take their payment from that amount. Many personal injury attorneys are called “no-win, no-fee” attorneys due to the fact that they only receive compensation if they win a case on behalf of their victim. While this type of payment arrangement appears to have a considerable risk for an attorney, an attorney will also have a greater incentive to provide quality legal representation in order to obtain the highest settlement for a victim possible regarding their personal injury claim.

 

Understanding A Contingency Fee Agreement

 

Every attorney will have a different legal contingency fee agreement. An experienced and honest attorney will explain all of the small fees for which he may be responsible that are not covered under a contingency fee agreement. Take the time to ask about any terms or conditions that you may not understand.  ask if the percentage an attorney will receive can fluctuate in any way if the case appears to require litigation. Ask questions regarding what would happen if you lose a case. Will you be responsible to compensate the attorney for any of their work if you lose your personal injury case? Additionally, you should consider asking how the accounting will be done as the case moves forward and if you will receive periodic updates regarding expenses related to your case.

 

Contact an Experienced Personal Injury Attorney

 

If you suffered any kind of injuries or losses resulting from someone else’s negligence, you have the right to receive legal representation. Learn how a personal injury attorney can help you negotiate with insurance companies, hire expert witnesses and litigate your claim in court. You have the right to receive compensation for your injuries. Learn how the experienced personal injury attorneys at the David Aylor Law Offices at (843) 212-2684 can help you understand your legal rights and ensure that they remain protected. We look forward to visiting with you regarding your case and helping you receive the justice and compensation you deserve.

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