If you’ve been involved in a car accident and have begun researching lawyers who might be able to help with your case, it’s possible you’ve seen the phrase “contingency fee.” Many car accident attorneys will take cases on a contingency-fee basis, which makes legal help more accessible to those who can’t afford a retainer fee or an hourly rate, according to the Center for Justice and Democracy. But what is a contingency fee, and why do lawyers use them?
Understanding the Contingency Fee
Folks involved in car accidents who sustained serious injuries often experience growing medical bills and temporary loss of wages, so the financial burden can be stressful. Contingency fees provide the option of quality legal help to those without the ability to pay for an attorney up front. Under a contingency fee agreement:
- The attorney takes very little or no payment up front and begins work on the case right away
- The attorney is financially responsible for hiring investigators, expert witnesses, and any costs associated with gathering and documenting evidence
- If the case is successful, the attorney receives a portion of the settlement as payment
- If the case is unsuccessful, the attorney does not collect a payment
In other words, under this system, an attorney’s payment for his work is contingent upon him winning the case. However, it’s important to know that, if she loses her case, the injured victim is still responsible for paying court and filing fees.
Why Contingency Fees?
In short, lawyers offer contingency fees in order to help their clients. Though it’s risky for a lawyer to accept a case on a contingency fee, his client can be sure that he will:
- Work hard through the completion of the case. Since the attorney only gets paid at the end of a case, he will put every effort into making sure the case is strong and that it concludes as quickly as possible.
- Believe in the probability of a successful outcome. An attorney risks his time and money when he accepts a case under a contingency-fee agreement. However, if a lawyer takes your case and offers you a contingency fee, you can be certain he is optimistic about winning you a fair settlement.
Don’t Let Cost Deter You From Quality Legal Help
If you’ve been injured in a car accident and need an advocate on your side, we want to hear your story. At Tavss Fletcher, we have over 100 combined years of helping injury victims just like you. To speak with a member of our team today, fill out the online contact form on our website.