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How does a contingency fee basis work?

On Behalf of | Jan 20, 2023 | Motor Vehicle Accidents

A serious car accident can leave you and your family reeling. Figuring out how to pay for medical bills and other expenses necessary for your recovery can be difficult, to say the least, especially when you’re unable to work. In addition, coping with the emotional and physical damage that you have experienced can be overwhelming, making it difficult to live the life that you once enjoyed.

Sure, a personal injury lawsuit may be able to help you offset the losses that you’ve experienced, but far too many people forego legal action because they think that they can’t afford an attorney. Don’t let the cost of legal assistance prevent you from seeking out the help that you need.

How does a contingency fee work?

One of the biggest reasons that you shouldn’t forego legal representation is because it’s often made affordable through a contingency fee arrangement. This agreement requires you to pay your attorney only after you win your case. The agreement will specify what percentage of your recovery you’ll pay to your attorney at that point.

There are a number of benefits to a contingency fee arrangement. They include each of the following:

  • Low risk: Since you don’t pay until you win your case, there’s little to no risk for you to obtain an attorney on a contingency fee basis.
  • No up-front costs: Given that you don’t have to pay until you win your case, you don’t have to worry about paying to secure legal representation.
  • You’ll receive a fair assessment: Given how these agreements are arranged, an attorney is only going to take your case on a contingency fee basis if they think that they can win. Therefore, on the front end of your case, you’ll have a better understanding of your likelihood of winning your case.
  • Your attorney will be motivated: An attorney who takes a case on a contingency fee basis is going to be motivated to win. After all, they’re not going to get paid until they win your case. Therefore, an attorney who works on a contingency fee basis may put in more work to build your case than an attorney who works for an hourly fee.
  • You level the playing field: If you’re going up against a wealthy defendant, whether that is an individual driver or a company, they might try to beat you into submission by making an excessive number of filings that require a response and engaging in a burdensome discovery process. If you work with an attorney on an hourly basis, you simply might run out of money to counter these tactics. If you have an attorney on your side who works on a contingency fee basis, you level the playing field, knowing that you’ll have an ally on your side fighting for the outcome that you deserve along the way.

Are you ready to learn more about what an advocate can do for you?

If your injuries were caused by someone else’s negligence, you’re justified in taking legal action. We know that the legal process can be daunting, and the perceived costs associated with it can be off-putting.

But there are ways to ease the financial burden of taking legal action and better position yourself for success. If you’d like to learn more about what that legal representation may look like in your specific case, now may be the best time for you to reach out to a legal team that you think is right for you.