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February 6, 2020 by PILLI Law

What is a Contingency Fee?

When you are involved in a personal injury incident — whether it is a motor vehicle accident, slip and fall, medical malpractice, or even a dog bite — you may need to seek the assistance of a personal injury attorney to pursue a personal injury claim. Usually, a personal injury attorney is contacted as soon as the injury is incurred so an individual can understand their legal options in this situation. 

You may notice that when you speak with a personal injury attorney, like a personal injury attorney in Atlanta, GA, not only is the consultation free but there is nothing charged upfront once the attorney is retained. This is because personal injury attorneys work on what is called a “contingency fee” basis. Contingency fees are a contractual agreement between an attorney and a client simply stating that the client will not owe anything until — or unless — a settlement is reached in the case. This also means that any filing fees, costs for expert witnesses, or cost for medical records and bills will be paid out-of-pocket by the attorney. In most personal injury contracts, attorneys ask for a percentage of the awarded money once your case reaches a settlement. This may also mean, depending on the contract, that if you do not get paid from this lawsuit, neither will they, no matter how much they worked on your case. When the attorney meets their end of the contact at the end of the case, they are paid out of the settlement. There may be other stipulations in a case such as paying back any deposition or filing fees. 

The benefit of a contract on a contingency basis is that the involved parties do not have to pay for anything while they are in the process of treating for injuries that they sustained as a result of the incident at hand. This relieves some of the stress a victim is going through, as they know they should be covered while they treat their injuries.

Speaking with an attorney is very imperative to any personal injury case. Should you or someone you know be the victim of a personal injury caused by the negligence of another party, be sure to speak with an attorney as soon as possible. It is important to understand that talking with an attorney comes at no cost of an individual, and if you do decide to pursue a claim you will not have to pay an attorney either. Speak with a skilled attorney about your case as soon as possible.

Thanks to the law office of Andrew R. Lynch, P.C. for their insight into what working on a contingency fee basis is.

Filed Under: Personal Injury Tagged With: personal injury attorney

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