If you’ve been injured in an accident, you may be wondering what a contingency fee is in a personal injury case. A contingency fee is a payment arrangement between an attorney and a client in which the attorney agrees to take a certain percentage of the settlement or award as payment for legal services. In other words, the attorney will only be paid if the case is successful.
Contingency fees are often used in personal injury cases because they allow individuals who have been injured to get legal representation without having to pay out of pocket for legal fees. This is especially beneficial for individuals who cannot afford to pay an attorney up front.
When an attorney agrees to work on a contingency fee basis, they are taking on a risk. If the case is not successful and there is no settlement or award, the attorney will not receive any payment for their services. This is why attorneys typically only agree to take on cases they believe they can win.
The amount of a contingency fee is typically based on the complexity of the case and the amount of work that the attorney will need to put in. Generally, contingency fees range from 25-40% of the total settlement or award. It is important to note that attorneys may also charge additional fees for costs associated with the case, such as filing fees, expert witness fees, and other costs.
When considering hiring an attorney for a personal injury case, it is important to understand the fee arrangement. Make sure to ask your attorney about their contingency fee and any other fees associated with the case. This will help ensure that you are not surprised by any unexpected costs.
