The aftermath of a car accident can be quite overwhelming. Accident victims are often faced with a mountain of financial and emotional stress, ranging from medical bills to lost wages.
Seeking justice through legal action can feel like an additional burden, especially when the victim cannot afford the cost of hiring a personal injury attorney.
If you or your loved one are in such a situation, we’ve got good news for you. The game-changer for accident victims is the contingency fee arrangement.
Want to find out more on how to secure fair compensation even when you can’t afford an attorney? Read on.
What is a Contingency Fee Arrangement?
A contingency fee arrangement is a payment structure where an attorney agrees to represent you as a client without charging any upfront fees. Instead, the attorney’s payment is contingent upon the outcome of your case.
If the lawyer successfully recovers compensation for you, the lawyer will receive a percentage of the awarded amount to you. If the case is unsuccessful, then you don’t owe the attorney anything.
How a Contingency Fee Arrangement Works
The percentage charged by attorneys in contingency fee arrangements typically ranges from 25% to 40% of the total recovery amount. The exact percentage may vary depending on factors such as the complexity of the case, the attorney’s experience, and the jurisdiction.
For example, if you win $200,000 in damages and your attorney’s fee is 30%, your attorney would receive $60,000. Also, if the case does not result in compensation, you do not owe your attorney legal fees.
Some lawyers may include additional costs, such as court filing fees or expert witness expenses. This is why you must first discuss these details before signing an agreement with an attorney.
Benefits of a Contingency Fee Arrangement for Accident Victims
Accident victims who hire a lawyer on a contingency fee basis get to enjoy the following benefits.
Access to Justice
One of the most significant benefits is the ability to hire a skilled attorney without worrying about upfront costs. This opens the door to justice for persons who might have avoided legal action because they can’t afford it.
Motivation for Attorneys
Lawyers who agree to work on a contingency basis will be highly motivated to secure fair compensation. Their payment depends on winning the case, so they’d ensure that they put in the effort to maximize compensation.
Free of Financial Risks
Since you can only pay if your attorney wins, there is no financial risk in pursuing a claim. This type of arrangement removes the fear of wasting money on legal fees for an unsuccessful case.
You Can Focus on Recovering
With a lawyer handling the legal complexities of your case, you will be able to focus on your physical and emotional recovery instead of worrying about the legal bills.
Who Can Benefit from a Contingency Fee?
Contingency fee arrangements are commonly used in cases that have to do with:
- Personal injury claims: You can benefit from this type of arrangement if you are involved in a car accident, slip and fall incidents, or medical malpractice.
- Workers’ compensation cases: You can also benefit from a contingency fee if you sustained severe injury on the job.
- Wrongful death claims: You may qualify for a contingency fee arrangement if you have lost a loved one due to negligence.
Consider visiting an attorney if you’re unsure whether your case qualifies for a contingency fee arrangement. Most law firms offer free consultations to evaluate your situation. You will learn more about your case in this consultation.