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What are contingency fees?

On Behalf of | May 11, 2022 | Personal Injury |

What does it mean to hire an attorney on a contingency basis? Such a scenario, sometimes, surfaces in personal injury cases. A simple explanation is that an attorney receives payment upon meeting specific conditions of the legal case. For example, one of those conditions may include reaching a suitable conclusion in a settlement.

With a contingency fee, an attorney agrees to accept a specific amount or percentage of the settlement instead of receiving an outright payment from the plaintiff. Should the attorney win the case, he or she will receive the amount of money agreed upon.

Attorney receives percentage of settlement

Contingency fees are available in legal matters such as personal injury cases, workplace accidents and defective products that lead to an injury. Personal injury cases stemming from motor vehicle crashes are among the most common scenarios in which contingency fees surface. The damages not only may relate to an injury, but to property damages as well as the death of a person.

The amount of a contingency fee usually ranges from 15 to 50% of a settlement. Clients who retain an attorney on a contingency basis often do not have the funds to provide an outright payment.

If the case is lost, the attorney receives no payment. Clients do not have to pay the attorney for the work he or she performed. However, the plaintiff, in most cases, remains responsible for paying court fees and charges.

Learn more at free seminar

With vast experience helping clients in personal injury cases, founding attorney Yvonne Kafor provides a steady guiding hand. She understands that you have many questions and seek direction. Ms. Kafor regularly hosts free educational seminars regarding personal injury cases and can answer your questions related to contingency fees. Signing up a seminar is easy, just visit us on this page.