When an individual has been injured it is sometimes necessary to consult with personal injury attorneys. Whether a person has been involved in an auto accident, a slip and fall incident, or the victim of medical malpractice, obtaining a fair settlement will require the expertise of a skilled attorney. Often, if the individual is unable to afford a lawyer, a personal injury law firm will work on a contingency fee basis. The following information describes what contingency fees are and how they work in regard to the services of an accident injury lawyer.
What Are Contingency Fees?
In simplest terms, contingency fees are paid to an attorney only if the attorney is successful in handling the case. Another way to describe these fees is that payment is contingent upon the attorney successfully recovering a cash settlement for their client. If no money is recovered in the case the client is not obligated to pay the attorney. Working with attorneys on a contingency fee basis will enable an individual to obtain legal representation who might not otherwise be able to afford these types of legal services. Contingency fees are normally only available in a few specific legal areas. These areas usually include personal injuries, wrongful death, and cases involving defective products.
How Exactly Do Contingency Fees Work?
When a client makes an arrangement with a personal injury law firm based on contingency fees, the firm normally agrees to accept a fixed percentage. According to All Law, the percentage is usually 30 to 45 percent of the total amount of money collected in the case. The lawyer and the client will usually enter into a contract that is called a fee agreement. If the agreed upon percentage is 30 percent and the lawsuit is eventually settled for $100,000, the attorney would get paid $30,000. The client would then keep the remaining $70,000.
Are There Other Costs Involved?
Even if the client doesn’t have to pay an attorney any amount of money upfront, there may be other costs involved with the case. According to the American Bar Association, whether a case is won or lost, there will still be court costs to pay. A few of these costs usually include court filing fees and costs that are related to any witnesses. What percentage attorneys ask for when making a decision regarding how much to charge for contingency fees will depend on several factors. A few would include out-of-pocket expenses the firm may need to cover as well as investigative work and time spent on research for the case.
Those who have been injured due to medical malpractice, an automobile crash, or any other type of accident understand the difficulties that come from excessive medical bills and time lost from work. It is important to consult with an attorney who has experience handling personal injury cases. Kaiser Romanello is a personal injury law firm that represents victims throughout Florida. For a free consultation, contact us for more information.