When you have been through a car accident recently, you don’t want to think about how you will pay for the lawyer. For this purpose, some lawyers work on a contingency basis, which will put less load on your pocket after the accident. This article will tell you what a contingency fee is, its benefits, and what to consider when hiring an accident attorney from Pottroff & Karlin LLC.
What is ‘Contingency Fees’?
A contingency contract/fee is a typical arrangement in which an attorney will represent a client without straightaway fees. Instead, the lawyer will get paid only if he has won the case. In other words, this means that the lawyer will only get paid if you get compensation for your damages.
This is not a new concept when it comes to personal injury cases, including road accidents. It is a great tool that helps people seek help and justice when it is unaffordable. The fact that an attorney gets paid for the type of work he does becomes the motivation for them to give their best, which increases the chances of positive outcomes.
How does this work?
You will have to sign an agreement with your attorney that states all the terms and conditions. This agreement will clearly lay down what percentage or ratio of the compensation the attorney will get paid. The fee percentage is not fixed and ranges according to the lawyer and the difficulty of the case.
What are the benefits of Contingency fees? ]
You Don’t Pay Upfront: You don’t have to pay the attorney’s fees upfront; rather, the attorney will pay himself by the quality of the work he does. This becomes all the more helpful if you are facing financial constraints.
Justice without worry: In this scenario, the attorneys get the best possible settlement for you because their fees depend on that. This ensures that justice does not depend on the person’s financial capacity; every person has a fair chance of getting the award.
Lawyers put forward their best effort: The attorney’s fee directly depends on his work, which automatically motivates them to get the most out of the deal. Your monetary interests align with your attorney’s.
Sharing of risk: In this case, nothing goes out of your pocket. There is no loss in this scenario; it is only a win. You and your lawyer share the monetary risk, and even if you lose, you lose nothing.
Things to Consider When Getting a Lawyer Who Works on Contingency Basis
Fee Percentages: Different lawyers charge differently for their services, which is spelled out in the agreement you sign with them. So keep your communication open with the lawyers and ask about their profit percentage in advance. Talk to multiple lawyers and get the best deal for yourself.
Hidden Expenses: This concept has hidden costs apart from the lawyer’s fee. You might have to pay for the investigation, court fees, expert witness fees, and more. Some attorneys pay it for you and then charge for the same in their profit percentage, while others might want you to pay for it directly. Ask about this well in advance, and make sure to incorporate it in your agreement.
Conclusion
Contingency fees are the best way to get damages/compensation after your car accident without having to pay for it in advance. But before jumping into this, make sure you research the lawyers and the favorable terms and conditions. Pick an experienced lawyer who charges average. Before filing the claim, make sure you know how this concept works. This can be a lifesaver for you after that horrible car crash.
