What you should know about Contingency Fees

If at one point you are caught up in a legal situation and you don’t have the money to afford an attorney, don‘t worry you have options. You may want to speak to your lawyer about a contingency fee method. In this case you would never have to pay a penny to your attorney unless you won your settlement. Then at this point your lawyer would receive a percentage of your fees which you’ve won.

The percentage of your contingency fee would be gone over once you speak with your lawyer. It’s usually between 20%-50% of the fees you win from your case.  If you lose the court case you won’t owe anything to the lawyer including lawyer fees and such.

Many times this contingency fee method is arranged when someone has been injured or seeking damages from auto accident or medical malpractice cases. Most attorneys will offer you a free consultation. If after hearing your case they feel that you are probably going to win then they will most likely take on your case and represent you. There wouldn’t be any worrying about hourly fees the lawyer usually charges which racks up after a couple visits.

Some cases that occur are usually only dealt with the contingency fee basis option. These matters consist of the following situations; Wrongful dismissal claims and serious injury claims which occur if the plaintiff is not working or has little income. Most people these days cannot afford a lawyer hourly and let their situations go unsettled. Why have this occur when there are options out there for individuals to claim what they have lost and also should receive as an outcome. If the lawyer notices this case is a positive one and nothing can go wrong and you’ll win, he/she will usually consider a contingency fee basis method. Make sure before you sign a contingency fee document, that there are no hidden fees written if you would lose the case. Always read the agreement word for word before signing anything.

Before you consider using the contingency fee method for your legal case make sure they are worth the percentage your lawyer may charge you. If it’s a small battle and your lawyer suggests a 30% payment once the settlement is won, you might want to reconsider the option. You may be better off paying the hourly fees instead of giving him a larger sum at the end of the settlement. Not all cases where an attorney represents their client wins. So therefore the attorney may raise the percentage of the next case he comes in contact with to make his money back he lost. This doesn’t seem fair for the next client but it’s something they have to do to make their profit equal out.

Make sure your case isn’t something which will only take a few days or maybe just one before considering the contingency fee method. This can mean the difference between you having money or not having money. You can’t afford to lose.

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