How Do Contingency Fees Work When You Hire a Personal Injury Attorney?
If you have been injured in an accident, you may be wondering how to pay for the legal representation you need to get the compensation you deserve. One option is to hire a personal injury attorney who works on a contingency fee basis. This means that the attorney will only charge you if they are able to recover money for you.
Here is how contingency fees work:
- You meet with an attorney and discuss your case.
- If the attorney agrees to take your case, they will prepare a contingency fee agreement.
- You sign the agreement and pay the attorney a small retainer fee.
- The attorney investigates your case and gathers evidence.
- The attorney negotiates with the insurance company or the other party’s attorney.
- If the case settles, the attorney will receive a percentage of the settlement amount.
- If the case goes to trial, the attorney will receive a percentage of the jury verdict.
The percentage of the settlement or verdict that the attorney receives is typically between 30% and 40%. However, the percentage may vary depending on the complexity of your case and the attorney’s experience.
There are several advantages to hiring a personal injury attorney on a contingency fee basis. First, it means that you do not have to pay the attorney any money upfront. This can be a major advantage if you are unable to afford to hire an attorney on an hourly basis.
Second, contingency fees give attorneys an incentive to work hard on your case. Because they are only paid if they are successful, they have a vested interest in getting you the best possible outcome.
Finally, contingency fees can help you to recover more money from your claim. This is because attorneys who work on a contingency fee basis are often more experienced and skilled than attorneys who work on an hourly basis. They are also more likely to have the resources to fight for your rights and get you the compensation you deserve.
If you have been injured in an accident, you should contact a personal injury attorney to discuss your case. An experienced attorney can help you to understand your legal rights and options, and they can fight for the compensation you deserve.
Here are some additional things to keep in mind about contingency fees:
- You are not obligated to sign a contingency fee agreement. You can always hire an attorney on an hourly basis, or you can represent yourself.
- Make sure you read the contingency fee agreement carefully before you sign it. The agreement should explain the percentage of the settlement or verdict that the attorney will receive, as well as any other fees that may be associated with your case.
- If you have any questions about contingency fees, be sure to ask your attorney. They should be happy to explain everything to you in detail.
Speak with a West Palm Beach Personal Injury Attorney
If you want to file a personal injury claim in Florida, turn to Donaldson & Weston for strategic legal counsel. Every member of our team is paid through contingency fee contracts, so you’ve got nothing to lose by reaching out. Call 561-299-3999 or submit our Contact Form to schedule a free initial consultation with a personal injury lawyer in West Palm Beach.