According to the U.S. Bureau of Labor Statistics, over 600,000 lawyers practiced law in 2015. When you begin the research process to hire a lawyer for your unique case, you will find that some attorneys operate on a contingency fee basis. This type of fee between lawyer and client allows the client freedom to hire a lawyer without paying large sums of money up front.
How Does a Contingency Agreement Work?
Lawyers who work on a contingency fee basis only accept payment after the case is complete. When you enter into a contingency fee agreement with a lawyer, he will most likely pay for up-front costs, including:
- Court filing fees
- Deposition fees
- Fees to obtain important documents
- Traveling costs
- Expert witnesses, when necessary
If your lawyer wins your case, he will receive a percentage from your award or settlement as payment for his services. If he loses, he does not charge any fees for his work on your case. However, it’s important to remember that you are still responsible for paying certain fees, even if you lose your case, such as court fees and costs for expert witnesses.
Why Do Attorneys Offer Contingency Fees?
Many lawyers who offer contingency fee agreements often handle personal injury cases such as car accidents or workers’ compensation lawsuits. Because a lawyer must win to receive payment for his work under a contingency agreement, this payment method is a positive solution because:
- Lawyers may exhibit a higher level of motivation to earn you the highest award or settlement possible. Your lawyer wants to get paid for his time while advocating for your safe and healthy future, so he will advocate fiercely for your fair award or settlement.
- Lawyers offer help to people who may not be able to obtain legal help otherwise. Personal injury victims often have many financial challenges. For this reason, many injury victims think that quality legal help is too far out of reach financially. Lawyers who offer contingency fee agreements help those who could not afford to hire an attorney who requires up-front fees.
We Want to Help You
Your case matters, and the attorneys at the Holton Law Firm want to help you fight for what you deserve. We work hard for every one of our clients and want to make quality legal help easily accessible. That’s why we work on a contingency basis. To get started on your case, start a live chat with us on our website.