There are multiple ways to pay lawyers. One of the most common types with certain lawyers is a contingency fee. A pedestrian accident lawyer is here to further explain:
- What a contingency fee is
- The lawyers most likely to charge a contingency fee
- The benefits of this type of payment arrangement.
This blog post is written for educational and informational purposes only. It is not intended to be a substitute for legal advice.
What Is A Contingency Fee?
A contingency fee is a special type of payment arrangement. It means that you do not pay anything up front. Instead, the payment is made at the end of your case. It is a convenient and affordable way to get the legal services you need without paying anything upfront. If the attorney charging the contingency fee doesn’t successfully resolve your claim, you generally don’t pay.
Not all lawyers charge a contingency fee as our friends at Herschensohn Law Firm, PLLC would warn you to keep in mind when reaching out to attorneys for help.
Who Charges A Contingency Fee?
Certain types of attorneys will offer a contingency fee arrangement. One of the most common types of attorneys that work with this type of fee agreement is a personal injury attorney. Remember, a contingency fee is paid from winnings, so lawyers that follow this structure tend to take cases they are sure they can win so that you — and them — can get paid at the end.
There are several benefits to this type of payment arrangement.
What Are The Benefits Of A Contingency Fee Arrangement?
Some of the benefits of a contingency fee arrangement include and may not be limited to:
- You pay nothing upfront. Generally, the first consultation is free. You don’t have to pay anything upfront to have a personal injury lawyer represent you. However, some law firms do charge for consultations, so be sure to ask this before agreeing to one!
- You don’t pay unless your claim is successfully handled. A lawyer who offers this type of fee agreement only gets paid if they successfully resolve your claim either by settlement or trial.
- Better access to a legal professional. This is a huge benefit to this type of fee arrangement; this particular arrangement means that the lawyer that has chosen to take your case is fully committed and prepared to help you win
- More peace of mind. There’s no worrying about how you’ll afford to work with the lawyer. Additionally, they will use information from your case to let you know an estimate on how much a settlement would be and what portion of that would go to the attorney.
Remember, each law firm structures their payments differently. It is important to have an open and honest conversation with a firm beforehand to understand how they get paid. You should find a firm that matches your wants and needs, including in the area of your budget. Start reaching out to law firms near you to ask what their fee arrangement is for your particular case.