Attorney’s contingent fee agreements have recently been under attack by large multinational corporations and the insurance industry. It is important that victims of personal injury understand why an attorney that works on a contingent fee may be their only hope for receiving fair compensation for their injuries.
What is a contingent fee agreement? Attorneys know that people who have been injured are usually unable to pay an attorney by the hour to represent them, much less pay an attorney in advance. So, attorneys that represent victims of personal injury usually will agree to represent the injured person for a contingent fee. That means the attorney does not get paid unless there is a recovery from the wrongdoer or his insurance company. If there is a recovery the attorney is paid a percentage of the amount recovered. If there is no recovery, the attorney is not paid. It is that simple.
This arrangement allows an injured victim to hire well qualified legal representation, but not have to pay upfront costs. Attorneys who work on this type of arrangement are selective about the cases they accept. Obviously, if there is no chance of a recovery, there is no chance the attorney will be paid, and the attorney will usually decline the case.
The percentage charged usually depends on the perceived difficulty of the representation, the amount of costs the attorney anticipates having to advance, and the amount expected to be recovered.
If you have been injured and are seeking legal representation, InjuryBoard.com can put you in contact with an attorney who will be glad to talk to you about your rights, and usually will be willing to work on a contingent fee agreement.