What is a contingency fee?
A contingency fee is a method of compensation that is used by plaintiff’s lawyers in most injury cases. The fee that you owe your attorney is contingent or only required to be paid if your lawyer obtains money for you. A contingency fee is paid as a percentage of your monetary recovery. A contingency fee is what is meant when you hear “no fee unless we recover money for you.
A contingency fee is a fee that is used by lawyers in most personal injury cases. It is conditioned upon your attorney’s successful resolution of your case. A contingent fee is paid as a percentage of your monetary recovery. A contingent fee is what is meant when you hear “there is no fee unless there is a recovery”. The client is generally responsible for the out-of-pocket costs of litigation only if there is a financial recovery.
A “contingency fee” means that a fee is only owed if the lawyer is successful in handling your case, and no fee is owed until the successful end of the case. Such a fee is often referred to as “the poor man’s key to the courthouse.” Insurance companies are well funded and are able to retain some of the best lawyers to defend their interests. Without a contingency fee, many injury victims would have no remedy.
A contingency fee is the lawyer’s payment for services rendered. A contingency is a percentage of the attorney recovers for the client and is dependent on a successful outcome of the case. A contingency fee gives the attorney the incentive to recover the highest possible amount for the client because the higher the recovery, the higher the attorney’s contingency fee and, in the event the attorney recovers nothing, the attorney receives nothing. In other words, a contingency fee protects the client from paying excessive attorney’s fees for an undesirable outcome.
A Contingency Fee is a legal fee that is dependent upon the successful outcome of your claim. Most attorneys who specialize in personal injury utilize a Contingency Fee Agreement because injured clients often have difficulty paying their bills and cannot afford to pay an attorney for professional services rendered on an hourly basis. Casale & Bonner, P.C. will agree to a certain percentage for an attorney’s fee. If there is no recovery, Casale & Bonner, P.C. receives no fee. By law, Contingent Fee Agreements must be in writing, signed by both the client and the attorney.
