Attorney Fees In Injury Cases
As the name implies, a contingent fee is based on a certain event occurring. In personal injury cases it is based on obtaining compensation for your case. At our law firm we handle cases only on a contingency and no legal fee is due if we fail to recover compensation. You will not be stuck with a legal bill for our services if we fail.
Contingent Fee v. Hourly Rate
A contingent fee works well for our injury clients because it allows them access to legal services without having to pay an upfront fee. Many clients who have been hurt cannot afford to pay an attorney a retainer of $5,000.00 – $10,000.00 to handle their case on an hourly basis. Studies have also shown that an hourly rate of compensation doesn’t lead to efficient and effective handling of cases. Hourly rate attorneys have no incentive to resolve your matter as their compensation is based not on an outcome but on total hours spent. Alternatively, a contingent fee arrangement demands that cases be handled efficiently as an attorney’s compensation is based on resolving the matter. The more efficient an attorney is, the quicker he or she will earn her fee with their fee amount based on the total amount they recover. In a contingent arrangement, interests of an attorney and their client align as the greater the recovery the more that the client will ultimately receive.