If you have been injured in a car crash, you are likely dealing with the insurance company, time out of work, medical bills, and getting your life back on track. We know that this is an incredibly stressful time. The last thing you need is more stress trying to pay for a qualified attorney to represent you. Thankfully, most personal injury attorneys work on a contingency fee.
When a lawyer advertises, “No fee, guarantee,” this is what they are referring to, but what does this actually mean? Let’s break it down.
What is a Contingency Fee?
A contingency fee is simply an agreement between you and your attorney that you won’t pay them anything until they win your case. Unlike other attorneys, such as family law or criminal defense, you don’t have to hold a retainer, or an upfront fee to cover case expenses. With a contingency fee, the attorney simply gets paid a portion of your winnings after the case is over.
How is a Contingency Fee Beneficial?
A contingency fee agreement can be beneficial to injured clients in many ways. First and foremost, it allows injured individuals access to an attorney they may not be able to afford otherwise.
Having an attorney on your side can make all the difference in your case. Insurance bullies are in the business of downplaying the impact of a crash to minimize payouts. However, qualified personal injury attorneys often have years of experience in dealing with insurance companies. With a contingency fee agreement, you can hold negligent parties accountable without the fear of added debt. Because the money comes from your settlement, you never have to pull out your checkbook. Instead, the firm will write you a check!
This agreement also takes the risk away from the client and onto the firm. If your attorney doesn’t win your case or deliver full value, the firm is responsible for absorbing all costs related to building your case. Therefore, the client has nothing to lose. If you win, you walk away with money in your pocket to help cover future medical expenses and get your life back on track. If you don’t win, you wipe your hands of all case expenses.
Since the risk falls on the firm, your attorney will also be more motivated to help you win your case. They can’t have the “win or lose, I’m getting paid either way” mentality. So, with a contingency fee agreement in place, you can feel confident in knowing that your attorney will do everything possible to help you reach a positive outcome in your case.
In the world of personal injury law, contingency fees are a game-changer. They offer you the opportunity to focus on healing and the best possible chance of getting full value for your injuries.
So, if you or a loved one has been injured in a crash, don’t hesitate to contact a qualified personal injury attorney.
