Contingency Fees in Personal Injury Case: How They Benefit Clients

Brian News

Many people who need to start a legal case are hesitant to do so due to the potential cost of retaining an attorney. This reluctance may lead to people not seeking fair compensation for their damages and injuries caused by neglectful third parties. An attorney who offers to work for contingency fees provides clients a way around the obstacle of paying for necessary legal representation when money is tight.

A contingency fee is an attorney fee that is contingent on whether or not the attorney wins a settlement or verdict for their personal injury client. If the attorney wins the case, then they will be paid their attorney fees. If the attorney loses the case, then no attorney fees will be collected. This allows clients to seek justice and compensation in an injury case without worrying about jeopardizing their own finances since there is no guarantee any case will be won.

To make matters even easier for clients, an attorney who offers contingency fees is paid using a pre-negotiated percentage of the compensation earned in a settlement or verdict. Plaintiffs effectively do not need to worry at all about the cost of a lawsuit. If they lose, they pay nothing; if they win, they pay an amount of their compensation, meaning they will always be able to afford their attorney’s services. Although it differs based on the complexity and details of a case, most contingency fees will range between 25% and 40% of the earnings.

Extra Motivation With Contingency Fee Attorneys

Another benefit of contingency fees is the motivation it gives attorneys to succeed. Everyone likes receiving a larger paycheck for their work, even personal injury lawyers. When an attorney secures a larger compensation amount for their clients and uses contingency fees, the client enjoys having more damages covered and the attorney will also enjoy the greater amount, since their attorney fees are percentage based. While you should work with an attorney who genuinely cares about your wellbeing and future comfort, it is nice to know that they will be all the more motivated to succeed, whereas attorneys that charge by the hour will get paid win or lose.

If you need to file a personal injury claim in Kentucky but do not know where to begin, you can come to Bahe Cook Cantley & Nefzger PLC for trusted, experienced, and friendly legal service. Our Louisville personal injury attorneys always offer contingency fee agreements to our clients, allowing them to get their case rolling without worrying where they are going to come up with the cost of attorney fees. We invite you to contact our firm at any time to learn more during an initial consultation.