Contingency Fee Structure in Personal Injury Lawsuits

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As a personal injury lawyer, I receive calls every day from people who have suffered terrible tragedies. They need my help right away, and very often, they can’t afford to pay me anything.

Attempting to ease their financial concerns, I tell them I take every case on a contingency basis, and immediately, they ask, “What does that mean?” This happens to be one of my most frequently asked questions and I thought it was an important topic to explain.

A contingency fee is a payment to an attorney for legal services that depends, or is contingent upon some recovery or award in the case. If a case is successful, payment is a percentage of the amount recovered. If the case is not successful, the lawyer gets nothing.

It is true there are many pros and cons to this type of fee structure. Sometimes cases settle quickly, and your lawyer may collect a large sum of money for not doing as much work as you may expect.

However, sometimes your lawyer spends hours upon hours working on your case only to end up unsuccessful at the end, receiving no payment whatsoever, as well as being out the cost of pursuing the action.

So, why should you accept your attorney’s contingency fee structure? Does it benefit you? The answer is yes, and here’s why:

  • You can be confident your attorney is working hard to settle your case for as much as he possibility can because his payment is contingent on that settlement.
  • For an attorney to risk the time he puts into your case, you know he truly believes in your case.
  • You won’t have to worry about hourly billing,
  • You don’t have to come up with any money upfront, including the costs associated with pursuing a case.
  • You don’t have to wonder if your attorney is over-billing you for the work you do.
  • You have the resources of your lawyer on your side.

Personal injury lawsuits can be very time-consuming and expensive to pursue. However, under a contingency fee structure that won’t matter to you because your lawyer will shoulder all of the financial burden, no matter what.

If you are considering working with an attorney on a contingency basis, the following topics should be discussed:

  • Make your lawyer explain the fee determination – who gets what and when
  • The percentage the attorney will get at  the time of settlement
  • Types of expenses that will be deducted from your settlement
  • The percentage the attorney will get in the event of a trial

If you or someone you love was injured as the result of someone else’s negligence, I can meet with you at any time or place that is convenient for you. Call me right away at 1 (877) 944-4373 for a free, no-risk consultation, and I will help you understand your rights.

As your personal injury lawyer, I’ll be there for you, and I’ll Make Them Pay!®

Author: Tim Misny | For over 34 years, personal injury lawyer Tim Misny has represented the injured victim in birth injurymedical malpractice, and catastrophic injury/wrongful death cases, serving “ClevelandAkron/Canton, Columbus & Cincinnati, Ohio.” You can reach Tim by email at tmisny@misnylaw.com or call at 1 (877) 944-4373.

 

Summary
Article Name
Contingency Fee Structure in Personal Injury Lawsuits
Description
My clients often wonder what a contingency fee is. As such, I put this information together to explain how contingency fees work and why contingency fees benefit my clients.
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