Contingency Fee: What Is It and How It Works?

Contingency Fee

When you are injured due to someone else’s wrongful act, you may have suffered from physical, mental and financial losses. In this case, you should hire a personal injury attorney to help you receive the compensation you receive. And one of the popular payment methods to pay your attorney is contingency fees.

Personal injury lawyers often work on a contingency fee basis. But, there are a few things you need to consider before hiring a lawyer or attorney on a contingency agreement.

Keep in mind that

  • High contingency fees do not mean high-quality representation
  • High contingency fees do not always indicate a higher amount of effort and gross settlement values
  • Contingency fees are negotiable

What is Contingency Fee?

A contingency fee is an amount that your lawyer or attorney will get a share of your compensation once your claim is settled. You don’t need to pay anything in case you lose your case. When you agree for a contingency fee agreement with an attorney, they will pay for upfront costs such as court filing fees, deposition fees, postage, medical records, trial exhibits, traveling costs, investigators and expert witnesses.

Contingency fees are considered as the wages a lawyer and his staff get to perform their job. Contingency fees can be between 25% to 40% of the total amount received as compensation. The amount of a contingency fee depends on the time and effort an attorney puts into the case and amount of settlement. Contingency fee works for clients as well as lawyers. This allows lawyers to earn a big incentive by maximizing the client’s settlement.

Why Do Lawyers Offer Contingency Fees?

Majority of lawyers or attorneys who offer contingency fee agreements handle personal injury cases. This payment method is a great solution as:

  • Lawyers or attorneys may dedicate a higher level of motivation to help you obtain the maximum possible settlement.
  • Lawyers who offer contingency fee agreements help people facing financial challenges and don’t afford to hire a lawyer who asks for upfront fees.

Before hiring a lawyer or attorney to get legal assistance, you must make proper research. Make sure that you are hiring a lawyer having a good record in the legal industry. It is advisable to look through the reviews of each attorney or lawyer to see what others are saying.

Pittsburgh Attorney

If you or your family member has suffered a serious injury in Pittsburgh due to someone else’s negligence, ask for legal assistance. It is advisable to speak to one of the leading Pittsburgh attorneys or lawyers.

An experienced lawyer, attorney or law firm will help you obtain the right compensation for your pain and suffering.