Are you an accident victim short on funds to hire a lawyer? To help victims who’re in financial distress, most attorneys and law firms offer a contingency fee agreement. This option lets you pay a lawyer only after winning a case.
Normally, this discussion about a contingency fee arrangement will happen before hiring a personal injury lawyer. The lawyer will charge between 30% and 40% of the compensation you’re awarded. The charge might change due to factors like the value of the compensation and work done during the judicial process.
The article reviews how a contingency fee agreement with a personal injury lawyer can help financially distressed accident victims.
Factors Determining the Contingency Fee
The high cost of hiring a lawyer under a contingency fee arrangement can discourage victims from using this option. Various advocates offer varying percentages for different personal injury cases. Therefore, the price can change or fluctuate due to the following reasons:
- The period spent working on the respective case
- The case’s likelihood of success and its complexity
- Form of settling the case, whether in trial or settlement
- Level of damages in question
- The expenses incurred during the judicial process.
- The attorney’s experience
Some attorneys allow negotiating, charging between 5% and 50% of the final compensation, but only in simple personal injury cases. However, an experienced advocate might charge at least 33% to 44%.
Importance of the Contingency Fee Agreement for Victims Facing Financial Issues
Ability to Hire Credible Attorneys
Opting for the contingency settlement enables you to afford a professional attorney regardless of their asking fee. It allows you to search for credible advocates, thus increasing your chances of winning the case. This is handy when your case is complex, particularly against defendants who can afford expensive lawyers.
Remember, you may possibly sign off 50% of your compensation when looking for a skilled lawyer. Always review a lawyer’s or company’s previous record to ensure their skills match the price tag.
Affording Personal and Family Needs
With no prior payments required, victims can focus their current income or available cash on personal or family needs. This includes medical expenses for ongoing checkups due to injuries sustained in the accident.
If you’re a family person and the sole provider, this payment option enables you to afford basic needs like food and finance bills like mortgages, school fees, or car payments. Additionally, you can still pay off crucial payments, such as loans.
Risk-Free Access to Absolute Justice
A lawyer working under contingency fee conditions guarantees full commitment to your case to earn their pay. They only accept this form of payment if they’re certain you’ll win the respective claim.
Therefore, ensuring you’re not at fault when hiring an advocate is important. Nonetheless, the lawyer will determine this before taking up the case by evaluating the available evidence.
Guaranteed Non-Monetary Compensation
Compensation in personal injury cases should also cover for unaccounted factors like:
- Regular medical checkups and drug expenses
- Lost time during recovery. This includes salaries/wages missed when at home or in the hospital
- Mental trauma
However, most victims get unfairly compensated and end up partially or fully spending the amount covering the above expenses. Getting a good attorney ensures defendants cover you for additional costs or suffering after the accident. For instance, they can secure the following additional compensations:
- Free therapy in case of mental trauma
- Getting the necessary equipment if impaired during the accident
- Receiving payment for future medical checkups
- Securing a job opportunity or monthly salary compensation if you lost your employment after the accident
- Retain your position if an accident happens in the workplace, regardless of the time of absence during recovery
Conclusion
Most personal injury lawyers are ready to aid you via the contingency fee agreement. They ensure you’re fairly and strongly represented against other skilled attorneys. You have nothing to lose.
