When personal injury lawyers agree to take a contingency fee case, they receive their payment from the money that you win in your injury lawsuit, rather than charging hourly fees. In contingency fee cases, there are little or no upfront costs to the client, which allows people with lesser means to still get the justice they deserve.
The amount of the fee is based on a percentage of the plaintiff’s award or settlement, and thus varies from case to case. The percentage can also vary, depending on the injury lawyer you choose. Most injury attorneys receive approximately one-third of the settlement or jury award for their services. While this is a substantial sum, a more in-depth evaluation proves this to be a reasonable amount.
When injury attorneys agree to take a contingency fee case, they receive their payment from the money that you win in your personal injury lawsuit, rather than charging hourly fees. In contingency fee cases, there are little or no upfront costs to the client, which allows people with lesser means to still get the justice they deserve.
The amount of the fee is based on a percentage of the plaintiff’s award or settlement, and thus varies from case to case. The percentage can also vary, depending on the personal injury lawyer you choose. Most personal injury litigators receive approximately one-third of the settlement or jury award for their services. While this is a substantial sum, a more in-depth evaluation proves this to be a reasonable amount.
Hiring a Personal Injury Lawyer
Many studies have shown that, on average, victims who hire injury lawyers receive substantially more compensation than those who do not, even after factoring in legal fees. Given this fact, hiring a personal injury lawyer is a sound investment for the plaintiff; more often than not, hiring an attorney pays off.
An injury lawyer must be trained extensively, maintain a professional office and staff, and spend long hours building a case. All of these things cost the personal injury attorney a great deal of money. Lawyers must pay these costs out of the fees they receive from their clients. Without these fees, they would be unable to remain in business to represent accident victims.
The Benefits of Contingency Fee Arrangements
Some personal injury attorneys even offer a “no-win, no-fee” guarantee. They take all the risk. If your personal injury lawyer offers this guarantee and he or she does not win you money in your case, you do not have to pay anything. When these factors are taken into account, the contingency fee could seem like a bargain.
Another positive effect of the contingency fee arrangement is that it deters frivolous lawsuits. An injury lawyer will not waste their valuable time on a case with no merit, especially if he or she is not going to receive any fees if they lose. Therefore, injury attorneys screen potential cases very carefully and refuse to accept ones that have little or no chance of being successful. Overall, the contingency fee arrangement helps keep court dockets from being littered with unreasonable lawsuits.
Contingency fees have another benefit for plaintiffs. Since they must evaluate the merits of a case before deciding whether or not to take it, most injury lawyers offer free initial consultations to prospective clients