What are some of the Benefits of a Contingency Fee Agreement?
January 2023
After a person is injured due to the negligence of another, one thought that crosses their mind is the cost of a lawyer. An injured person who may be low on funds or put out of work by the injury cannot afford to hire a lawyer in the more traditional method of by the hour. An injured person should put the thought of not being able to afford a lawyer out of their mind. At Herrick & Hart, we agree on personal injury cases to accept payment from a contingency fee arrangement. Under this arrangement, the attorney does not send the injured person a monthly bill. Instead the attorney foregoes getting paid along the way and waits until the end of the case along with the injured person to be paid for legal services. There is ordinarily no up front payment for costs that is required. The attorney does not bill an hourly rate, but instead bills by a percentage of the total settlement proceeds. The attorney shares the risk of a success or failure on the case with the client. If the attorney fails to secure a settlement or secure a positive verdict at trial,the attorney will not be paid any fees. Although the client can expect to be responsible for costs that the attorney has fronted during the course of the case.
A client should remember that the attorney takes on risk when accepting a case on a contingency fee basis. The management of the risk of a personal injury case is best handled by a law firm that focuses on personal injury.
For over 70 years, the lawyer's of Herrick & Hart, have worked to resolve personal injury cases. If you or loved one have been injured in a personal injury case, you should feel free to contact us to discuss your potential case.