Why is a Contingent Fee Agreement Necessary?
Occasionally, a new or prospective client of the Kohn Law Firm indicates a desire not to sign a formal contingent fee agreement. In most instances, there appears to be a concern that such an agreement somehow obligates the creditor or forwarder to an exclusive relationship, or at least one of a defined time period. In addition, there seems to be a general reluctance to deal with the details of the relationship that are addressed in the agreement. As to the first concern, it can be quite simply stated that, with regard to claim referrals, the Kohn Law Firm’s contingent fee agreement does not bind the creditor or forwarder in any way; it does not demand exclusivity or require a minimum volume or time period. As for the “details,” they’re really just a few basics that need to be addressed to insure smooth claim handling. First and foremost, it must be noted that Wisconsin statutes require that all contingent fee agreements be set forth in writing. Specifically, Wisconsin Supreme Court Rul
