Posted in Uncategorized on October 14, 2020
Many times, victims hurt in a devastating accident are too scared to pursue legal damages. Often because they believe they are required to pay upfront for any legal services. They worry that since they do not have the money to pay for a lawyer or have the funds to cover all the legal expenses, they cannot pursue a claim.
Yet, these individuals do not realize that almost all wrongful death or personal injury cases are handled on a contingency fee basis. What does this mean exactly? In this blog post, we will dive into this issue and describe what a contingency fee arrangement is, the benefits and disadvantages that come with it, and why you should work with an attorney on a contingency fee basis.
Even though it may sound complicated, contingency fees are relatively straightforward. What it boils down to is a client only pays their lawyer if their case is successful, either through a settlement or a jury verdict. Under a contingency fee arrangement, the attorney accepts a fixed percentage, which is often one-third of the recovery. This amount is paid out only if you win your case. In situations where you lose your case, you may not get any money awarded to you. But you also will not have to pay your lawyer for the work done on your case.
However, one important detail to keep in mind is you may have to pay court filing fees or costs related to deposing witnesses even if you end up losing your case.
Contingency fee arrangements are often used in civil cases like workers’ compensation cases or personal injury claims. However, a lawyer can accept work on a contingency basis in other circumstances, including:
Many attorneys generally accept cases on a contingency basis if they have clear liability and a way to collect the judgment. Yet, if your case is riskier or the reliability of succeeding is not clear, an attorney may not accept the case, even on a contingency basis.
Yes, contingency fees are beneficial. However, they are not always allowed. In fact, they are prohibited by law in a variety of cases:
Contingency fee arrangements provide clients with several benefits, including:
Contingency fee agreements can work out great. However, sometimes this fee structure may not be the best decision.
Contingency fee arrangements are a great tool to use if you cannot afford litigation costs upfront, and you have a solid legal case. However, just because you have a case does not mean that every attorney will take it.
If you decide to pursue a legal claim. Make sure to speak with an experienced attorney that can help you figure out if you have a viable claim, your chances of success, and can explain in detail about their contingency fee agreement. For more information, contact the Law Office of John W. Redmann today, or call our offices at 504-500-5000. Let us help you get the answers and the legal help that you need.