How Do Contingency Fees Work in Personal Injury Cases

Navigating the legal system after a personal injury can be difficult. Not only is this unchartered territory, but you also have to navigate it while not feeling your best. One of the most common concerns for individuals seeking legal action is the cost of hiring an attorney. Everyone knows that legal counsel isn’t cheap, and you’re likely not in a position to cover lawyer fees when you’re dealing with emotional, physical, and financial repercussions from the accident. The good news is that most personal injury lawyers in Florida work on a contingency fee basis, making legal representation accessible without upfront costs.

Let’s learn more about how contingency fees work, what you can expect, and why they’re a beneficial arrangement for personal injury cases.

What Is a Contingency Fee?

A contingency fee is a payment arrangement where an attorney’s fees are contingent based on the outcome of your case. This means that the lawyer only gets paid if they successfully recover compensation for you. If the attorney doesn’t win your case, you generally don’t owe them any attorney fees. However, it’s important to discuss all fees and costs with your attorney in the consultation so that there are no surprises later. Each lawyer charges differently for their services.

How Do Contingency Fees Work?

When you hire a personal injury attorney in Florida that operates on a contingency basis, you’ll enter into a fee agreement that outlines the terms of the arrangement. This agreement will specify the percentage of compensation the attorney will take as their fee if they win the case. The percentage can vary but is typically between 25% and 40% of the total recovery. The percentages differ based on the complexity of the case, the stage at which it’s resolved, and the specific practices of the law firm.

One of the best perks about contingency fees is that you don’t need to pay a lawyer anything upfront. This allows you to access skilled representation and take the next steps to pursue a settlement without having to save up money. The attorney assumes the financial risk and also works diligently on your case. And you can trust them to do exactly this, as their own payment depends on it.

Additional Fees to Consider

Do keep in mind that there are other fees and expenses associated with personal injury cases, including court filing fees, obtaining medical reports, expert witness fees, and more. Depending on your agreement, your lawyer may cover these costs initially and then deduct them from the total compensation, or you may be required to pay for them. It’s important to clarify how these costs will be covered, as some personal injury attorneys do ask that they are paid regardless of whether the case is successful or not.

What Happens if You Lose Your Case?

A personal injury case that is unsuccessful is disappointing in many ways. Fortunately, you shouldn’t have to pay any fees in this situation. However, you may still be responsible for reimbursing the attorney for any case expenses they advanced on your behalf, such as the witness fees and court filing fees. As mentioned above, this should be outlined in your contingency fee agreement.

What are the Benefits and Considerations of Contingency Fees?

There are many advantages to working with a lawyer who offers a contingency fee schedule:

• Seek justice and fair compensation, even if you don’t have the money to hire a qualified attorney.
• Receive help from hard-working, dedicated lawyers, as their payment depends on your case.
• Receive risk-free legal representation, since the risk is shifted to the attorney.
• Have the peace of mind that all costs are transparent and settled ahead of time.

Now, there are a few things to be aware of before you agree to anything. Ask the attorney about the percentage fee (how much they will take if your case wins), who is responsible for case fees and how they’ll be paid, and how they will keep you up to date with your case and the costs.

No Recovery–No Fee! Schedule Your Free Case Review Today.

Contingency fees are a valuable tool that allows individuals who have been in an accident at the fault of someone else to seek legal representation without upfront costs. By entering into a contingency fee agreement, you can feel confident knowing that your attorney is working hard on your behalf.

The Law Offices of Ron Sholes operates on a contingency fee basis, meaning that you don’t pay if we don’t win. We offer free case reviews, so schedule yours and see what the next steps are. We are honest and upfront about our costs, and we take the claims process seriously, ensuring the best results for our clients. Request your free case review here!