Consider using a CONTINGENT FEE to retain a CONTINGENT FEE ATTORNEY for any kind of claim that you might have, including personal injury and business litigation. A contingency fee agreement is an alternative form of payment arrangement used in many types of legal disputes. The fees are based on any award made in resolving the matter, rather than paying hourly for legal services rendered. Payment is due to the CONTINGENT FEE LAWYER when the matter concludes. These types of cases could either be settled or awarded through a verdict rendered in court. There may be alternatives to the type of arrangement as well, such as a reduction of the usual hourly fee the attorney may charge, with an additional percentage paid to the attorney of any proceeds awarded.
There could also be differences in the percentage charged, depending on how the case is handled – through the litigation process or through settlement. Some matters are settled through mediation or alternative dispute resolution. If the lawyer does not have to go through the litigation process, the amount of effort invested in the case is simplified, so the percentage paid may be lower if the matter settles and does not proceed to litigation.
Fee agreements of this type can be advantageous in any kind of case, particularly in personal injury matters and business litigation cases. When a claimant does not have sufficient funds to hire an attorney, this gives the claimant the potential to pursue their claim without having to come up with a retainer or pay the attorney’s hourly fees. In some instances, court costs and fees may be paid by the claimant. The types of costs that could be incurred might be for the expenses related to taking depositions, the cost of copying medical records, court filing fees and expert witness fees.
These types of costs may be paid when incurred, or may be deducted from the monetary award. When shopping for a lawyer, get estimates on the costs that could be incurred, and also whether the legal fees are paid after the other costs are deducted, or before.
Even if the claimant must pay for these costs, there is still a substantial savings in out-of-pocket monies required to pursue a claim, and the claimant’s risk of incurring high legal fees are minimized. The attorney bears the majority of the risk.
These types of payment agreements also motivate the attorney to obtain the most money possible for the claim at hand, which is yet another advantage of this type of agreement.
The claimant and the attorney will generally enter into a contract when this type of payment arrangement is made. The contract should provide specific details, such as the percentage that will be paid to the attorney, and whether there are different percentage rates applied to matters that settle versus matters that go through the litigation process. You may want to talk to a few different attorneys to compare both their success rates with your personal injury or business litigation matter, as well as comparing their pricing.
In cases of personal injury or business-related litigation, consider the advantages to this type of payment agreement. They may not always be appropriate, but will provide the consumer with a larger choice of options.
When embarking on personal injury or business litigation matters, using a contingency fee agreement may be the best choice. Contact me today if you want to discuss whether your matter might be suitable to be handled using a CONTINGENT FEE instead of paying the high cost of an attorney who charges by the hour.