Many clients ask our personal injury lawyers if we charge our clients on an hourly basis. The answer to that question is always no. Since our firm only practices injury law, we never charge hourly fees to our clients. Contingency means that the contingency has to happen for us to recover an attorney’s fee for the client. That contingency is the client approving a settlement we earn for them in the case or if we take the case to trial and obtain a favorable verdict.
When you’ve been injured in an accident caused by someone else, you want a lawyer who is experienced and skilled in personal injury law advocating for you. At Shapiro, Washburn & Sharp, we can help you assess your claim and guide you through the legal process to ensure you receive the compensation you deserve. Call us today at 833-997-1774 for a free consultation.
What Is a Contingency Fee in a Personal Injury Case?
A contingency fee in a personal injury case is an agreement between the client and the attorney that the lawyer will receive a percentage of any settlement or court award, but only if the case is won. This means the client does not have to pay any legal fees upfront. If the case is successful, the lawyer’s fee is deducted from the financial recovery. If the case does not result in a win, the client generally does not owe the lawyer anything for their time and services. This arrangement allows individuals who may not have the resources to pay hourly legal fees to still have access to legal representation.
How Much Do Personal Injury Lawyers Charge Under a Contingency Fee Agreement?
The typical contingency fee for personal injury cases ranges from 25 to 40 percent of the final settlement or judgment. However, the exact percentage can vary depending on the complexity of the case, the lawyer’s experience, and the jurisdiction.
The fee is usually negotiated upfront, and the client should clearly understand the terms of the contingency fee agreement before proceeding. It’s important to note that additional costs, such as filing fees, expert witness fees, and court costs, may be separate from the contingency fee and can either be paid as they arise or deducted from the settlement in some cases.
What Happens If a Personal Injury Case Is Not Successful?
If a personal injury case is unsuccessful, the client typically owes no legal fees under a contingency fee arrangement. This is one of the main advantages of working with a lawyer on contingency—if the case does not result in a settlement or award, the client is not financially burdened by attorney fees. However, it is important to clarify that clients may still be responsible for other costs related to the case, such as filing fees, expert witness fees, or costs for gathering medical records. These costs should be clearly outlined in the contingency fee agreement so clients understand their financial obligations regardless of the case’s outcome.
How Does the Contingency Fee Affect the Final Settlement or Award?
The contingency fee is deducted from the final settlement or court award, which means the client receives a portion of the compensation, while the lawyer is compensated for their work. For example, if the final settlement is $100,000 and the agreed-upon contingency fee is 33 percent, the lawyer would receive $33,000, and the client would receive $67,000. While this may seem like a significant portion of the recovery, it’s important to remember that a contingency fee arrangement allows clients to access legal services without paying upfront costs. Furthermore, the lawyer has an incentive to secure the highest possible settlement or award, as their fee is based on a percentage of that amount.
What Should I Do If I’ve Been Injured in an Accident?
If you’ve been injured due to someone else’s negligence, the first step is to seek medical treatment. Once your immediate needs are addressed, contact an attorney specializing in personal injury cases to discuss your options.
At Shapiro, Washburn & Sharp, we have decades of experience handling personal injury claims. We understand how to navigate the legal process and work with you to maximize the value of your case. Call us at 833-997-1774 to schedule a free consultation, and let us help you get the compensation you deserve.