What is a Contingency Fee?
Last updated Thursday, February 2nd, 2023
Attorneys fees can be expensive. Therefore, many people fail to schedule consultations because they believe they can’t afford the representation. There is such a thing as a contingency fee, however. Lawyers charge this fee in special cases, and they make it easier for their clients to pay for the services. The following is some information about contingency fees and how they work.
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A BRIEF EXPLANATION OF A CONTINGENCY FEE
Contingency fees are monies that a Georgia personal injury attorney or another type of lawyer receives contingent upon certain circumstances. Usually, attorneys only receive these funds if the client wins the case that he or she is pursuing.
THE BENEFITS OF CONTINGENCY FEES
The client receives several benefits when the attorney offers contingency representation. One benefit is that the individual can get the help that he or she needs without worrying about paying money upfront. Another benefit is that the attorney will fight hard to win the case because he will not receive a payment if he doesn’t. That security will make the client feel more confident about the case outcome, and that will reduce the stress while the case is underway.
TYPES OF CASES THAT MAY HAVE CONTINGENCY FEES
A variety of cases can qualify for contingency representation. Personal injury cases are the most common case types that usually have contingency fees and representation. Personal injury cases include slip and fall incidents, automobile accidents, medical malpractice suits, dog bite cases, premises liability issues and the like. An attorney may also represent someone in a case that involves a disability claim or nursing home abuse. Law firms are often willing to offer representation when cases seem promising.
HOW MUCH IS A CONTINGENCY FEE?
The contingency fee is usually a lump sum, and it is equal to a percentage of the settlement. The percentage varies from firm to firm and attorney to attorney. A lawyer could charge anywhere from 25 percent of the settlement to 40 percent of the settlement.
HOW CONTINGENCY FEES WORK
The payment of contingency fees will only go to the attorney if the client wins the case. The client will not be responsible for any fees if the judge does not award that person a settlement from the defendant. In a winning case, the attorney at Monge & Associates would most likely extract the contingency fees from the settlement as soon as the defendant pays it. The client would get the remaining balance, and that person could do whatever he or she wants to do with the rest of the money. The settlement money can be used for medical bills, housing, recreation or everyday expenses.
If you believe that you may qualify for contingency fee representation, you need to contact a Georgia personal injury attorney ASAP. Monge & Associates assists people in the Atlanta area, and they offer contingency representation in most cases.
Call today to learn more about your case over a free confidential consultation.