If you think hiring a lawyer after a car accident is too expensive, think again. Contingency fees allow attorneys to help clients with no upfront cost. In fact, when you hire a lawyer with a contingency fee agreement, you won’t pay anything unless they win your case and collect damages or compensation. Most personal injury attorneys will work on contingency fees.
If you’ve been injured in an accident, get help with your legal services from a reputable car accident lawyer that will work on a contingency fee. Contact Swanson, Lathen, Prestwich, PC for a free case review.
What is a contingency fee?
A contingency fee is a way to pay for your legal services after winning your claim. You don’t pay a retainer or an hourly fee to your attorney. Instead, your lawyer receives a percentage of your final compensation award after winning your claim.
The specifics about what percentage of the award goes to the lawyers’ fees and what those fees include will be detailed in your contingency fee agreement.
What is a contingency fee agreement?
A contingency fee agreement is a contract between you and your lawyer that spells out the terms of the contingency fee. The details should include who covers which specific costs and how the payout percentage will break down between the attorney and the client in the event of a win or settlement. It should also outline which factors could affect or change the fee agreement or payout.
How does an attorney collect a contingency fee?
When a lawyer accepts a contingency fee case, they only get paid if you win. They work on the case and often front the additional costs of collecting documents and hiring experts.
Suppose you reach a settlement or successfully receive compensation through trial. In that case, your attorney will receive a percentage of the final award. The specific percentage will depend on many factors that go into your case and how it’s settled.
Attorneys working on a contingency fee basis take on many upfront risks. That means they won’t take every case. They like to handle cases with a strong likelihood of winning. They usually do a free case evaluation to determine if they think your case is worth taking on.
If the lawyer does take your case, they’ll put in the effort and energy needed for a successful outcome. After all, if they don’t win, they don’t get paid, and all the effort is wasted.
Are contingency fees the same as “no win, no fee” agreements?
Yes, contingency fee agreements are often called no win, no fee agreements. The term no-fee-no-win lawyer simply means an attorney, usually a personal injury attorney, who will work on a contingency fee basis.
Which lawyers offer contingency agreements?
Most contingency fee agreements are from lawyers specializing in personal injury claims or worker’s compensation claims. Generally, these are the types of cases that the attorney thinks they will win or a settlement and offer the potential for a large enough payout to make the risk worth taking.
What are the risks associated with hiring an attorney on a contingency fee basis?
The most significant risk of contacting a personal injury attorney who works on contingency fees is that they decide your case isn’t worth taking. If your case seems like it has a slim chance of success, or the lawyer believes the potential payout you’re like to receive won’t be worth the time and energy required to win it.
The potential benefits of working with an attorney on a contingency fee basis can far outweigh the risks. You can get a free case evaluation with no upfront fees and know if you should pursue the case or save your time and effort.
Working with a personal injury attorney has a proven track record of delivering more wins and more compensation in accident claims.
If you work with an attorney without a contingency agreement, you will likely get billed based on the attorney’s hours on your case. There is no cap on the time they might put in. Plus, you’ll have to pay for expert and document gathering costs. All these costs will add up, and you won’t be reimbursed if you lose your case.
Let the attorney take the risk for you with a contingency fee agreement.
What percentage of my settlement will go towards a contingency fee?
An attorney generally receives 33.33 percent if the case is settled and 40 percent if the case goes to arbitration or trial as the contingency fee. Some states and some lawyers charge higher contingency fees but this is the typical rate. If your case has a lower value, it may require less work and the fee is lower. Higher value cases typically require much more work and so the fees are higher because the case is worth more.
However, the exact percentage will depend on the specifics of your case and the agreement you make with your attorney. While a few attorneys charge a lesser percentage if the case settles before filing suit, this can be a red flag. Often attorneys that offer these types of fees are afraid to file suit and so the lower fee encourages the client to settle early. While nearly all cases do settle outside of trial or arbitration or extensive litigation, having that as a threat to the insurance company is an important tool.
Contact a personal injury attorney for a free case evaluation for a more accurate estimate of what to expect in your case. They can tell you if you have a good case and can break down the percentages they’ve received in similar cases in the past.
Is there a Salem, Oregon law firm that offers legal services for a contingency fee?
Swanson Lathen Prestwich, PC, offers personal injury legal services in the Salem, Oregon area on a contingency fee. Our experienced attorneys have fought to help accident victims get the compensation they deserve for more than 50 years.
Get the legal representation you deserve with no upfront cost—contact SLP Law for a free evaluation of your personal injury case.