How Contingency Fees Work for Your Personal Injury Case
When do I get paid under a Contingency Fee arrangement?
One reason many people decide against getting legal help for a personal injury is the cost. They worry that they can’t afford a good lawyer, and should just try to go it alone. This is why most of the best personal injury attorneys offer contingency fee agreements. If you are worried that you can’t afford an attorney to help recover for your injuries, these arrangements can give you access to the help you need.
How Contingency Fee Agreements Work
The word “contingency” means that the fees you pay will depend on the outcome of your case. Instead of paying a retainer and hourly fees for your representation, you pay nothing up front. If you win your case, your fee will come out as a percentage of the settlement or verdict you win. If you do not win, you do not owe the attorney any money.
Main Advantages of a Contingency Fee Agreement
The most obvious advantage of these agreements is eliminating up-front costs. While you worry about medical bills, lost work, and your day to day activities, you do not need the added stress of how to pay your legal bills. You work with your attorney to understand and develop your case, without the weight of added costs for you.
Beyond this, the contingency arrangement makes clear the motivation for your attorney to do his or her best work for you. The attorney only gets paid with a settlement or verdict, and earns more for a larger result for you.
Payment After Settlement
The attorney’s fees come out as a percentage of the amount. The attorney will present a balance sheet that gives you a breakdown of the fee and any expenses involved, and give you a chance to clarify any information needed. You then receive your settlement with your fees paid out of the settlement amount.
If you have been injured, a contingency fee agreement can help you afford the best legal representation. To learn more, contact Eisenberg Law Offices online or at (608)256-8356.