What Are Contingency Fees?
You may have heard attorneys offer to work on contingency fees. They promise that you do not have to pay unless they win. What does that really mean? Can it really help you? The answer is yes, it can. Contingency fees are dues that lawyers receive after their clients have won a verdict or settled a case. If the attorney is unable to obtain money for a case, the client is not obligated to pay. This allows hardworking citizens who cannot afford to hire representation access to a good lawyer.
In most cases, an attorney charges their clients by the hour. The cost can start from $350 or higher. It can take quite a few hours to prepare for a case or for a trial. Without realizing it, the attorney expenses can be high and difficult to pay. That is why contingent fees are so beneficial for both parties. When a lawyer and client enter into an agreement, they must sign a formal contingency fee contract. This specifies what percent of the recovery the attorney will receive, if there are any other deductions or expenses that the recovery will cover, and other stipulations.
On average, most lawyers expect one third of the sum they recover. This pays for the services rendered by your legal representation. However, if the case goes to trial or needs extensive research or preparation, the attorney may take a higher percent. It is important to make note of what the contract states. The fee also makes it so that the lawyer has as much of a stake in the case as you do.
Although a contingency fee protects you from having to pay without a recovery, you may still be responsible for other costs. These expenses can include court fees, witness fees, and more, even if you lose the case.
At The Pittman Firm, P.A., we understand how debilitating a personal injury case can be. We believe you should focus on recovering, while we fight on your legal behalf. Our Florida personal injury attorneys have experience recovering large sum settlements and verdicts. Call today for a free consultation and see what we can do for you!