Studies reveal that over 40 million lawsuits are filed every year in the United States. For most people, filing a lawsuit comes with a financial burden that could prove hard to overcome. However, should you find yourself in need of legal representation but without the money to pay for it upfront, you have options. Particularly in the area of personal injury law, you can opt for contingency legal representation.
What Is Contingency Representation?
A contingency fee refers to a type of payment you make to your attorney only after obtaining a favorable settlement or court judgment. This arrangement means that your attorney will only get paid when you recover compensation (a money reward) through a settlement or court judgment. Contingency legal representation is typically structured on a percentage basis, which is agreed upon by the client and the lawyer at the start of the litigation process.
How Does Contingency Legal Representation Work?
In contingency arrangements, the attorney representing you will get paid by taking a percentage of your compensation as a fee for the legal services rendered. Many attorneys accept a case in exchange for a reasonable portion of your settlement or award, usually in the range of 25 to 40 percent on average.
What If You Lose the Claim in Court?
If you lose the claim in court, you don’t pay the attorney for the work done. Ideally, you only pay for the legal services if the case is won or settled. This arrangement acts as a powerful incentive to the attorney and legal team to give their best effort at winning your case; otherwise, they miss out on payment.
What Are the Advantages of Contingency Representation?
Contingency fee agreements have many benefits. The primary advantages include:
Lack of Upfront Fees
One great benefit of using contingency fee arrangements is that you don’t have to deal with massive legal bills since no upfront payment is required. The arrangement can benefit those who need to access quality legal representation to achieve justice. In most cases, the attorneys advance litigation expenses, including the filing fees, expert witnesses, accident reconstructions, and travel costs.
No Fees For Losses
Another advantage with contingency fee arrangements is that you won’t have to worry about additional charges should the case fail to come out as hoped. However, you should check with your lawyer for some administrative costs that may require payment on your part.
Best Legal Representation
Because your lawyer will not get paid unless you are paid, you can rest assured your legal team will give their best to win your case. It also guarantees that the law firm prioritizes your case for a quick and favorable settlement. On the other hand, attorneys who get paid by the hour often take their time to accumulate more payment.
Adequate Time to Recover
People who suffered injury can focus on their recovery when they have a contingency legal representation arrangement. Not worrying about how to afford an experienced attorney can help speed up your recovery so that you return to your life within the shortest time possible.
When Are Contingency Fee Agreement Primarily Used?
Contingency fees are helpful when the aggrieved parties are short on funds but have a costly or complicated case. Most lawyers accept to work on contingency terms in cases where there is a clear liability and a means to collect a judgment or settlements. Contingency fee legal representations are typically used in cases such as:
Workers compensation cases
Debt collection cases
Class action litigations
What Should I Consider Before Hiring a Lawyer for a Contingency Legal Representation?
Some of the things to keep in mind before seeking legal help on a contingency basis include:
Experience: You should also find out who will represent you from the group of lawyers in a law firm. The right attorney should boast the expertise to handle your case effectively.
Winning rates: Find out whether the attorneys have handled similar cases and their winning rates. If possible, get references from friends, family, or colleagues.
Get Help from Lamar Law Office
Getting the legal help you deserve doesn’t have to break the bank. If you are involved in a personal injury case, our experienced attorneys at Lamar Law Office are ready to provide representation on contingency. Our clients only pay if and when we win their case. If you have any questions, contact our team today. We are here to ensure you get the justice you deserve.