Why It Is Best to Hire a Lawyer Who Follows the Contingency Fee Structure
When you are dealing with personal injury, a dispute, or any complex legal problem, it could significantly worsen your future. To avoid those things, you need a lawyer. Many people have a concern when hiring a lawyer, like, “How can I be able to hire a lawyer? I can’t afford to pay large fees upfront.”
As a result, many people start to hesitate to seek legal assistance and struggle with the issues. Subsequently, what is the solution for this situation? This is exactly where the contingency fee model becomes helpful for many people. In the legal industry, thankfully, there is a way; choosing a lawyer who works on a contingency fee basis is the best choice for those who can’t afford to pay upfront fees.
This type of fee structure is common in personal injury and workers’ compensation claims. It gives people a chance to pursue justice without stressing over financial barriers. Opting for a contingency fee attorney also motivates your lawyer to work harder, investigate deeper, and pursue the best outcome and possible compensation. When their pay depends on your success, their goals naturally align with yours.
Let us understand why it is best to hire a lawyer who works on a contingency fee basis.
What Is a Contingency Fee Lawyer?
A lawyer who agrees to attend to your case and represent you and your claim in court without charging upfront fees. The lawyer will get the payment from a percentage of the final settlement or court verdict. If the lawyer does not win your case, you owe them nothing for the legal work they performed.
Simply, the contingency fee basis means you don’t need to pay any fees, like attorney fees or legal representation fees, unless the lawyer wins.
Here are some situations where contingency agreements are used:
- Personal injury claims
- Wrongful death claims
- Medical malpractice cases
- Workplace injuries
- Car accident claims
- Certain business disputes involving damages
How the Contingency Process Works and Why It’s the Best Choice
To know why choosing a contingency fee lawyer is the best practice, you should understand what is actually happening during the process. Here are the key steps that help you get a clear view of choosing them and remove the financial stress.
- At first, you should consult with the lawyer; the meeting is generally free of cost. During the initial consultation, your attorney will review your situation, explain your rights, and determine whether the case qualifies for contingency representation.
During this consultation, you can get enough legal suggestions and advice without paying anything upfront, which makes it feasible to get legal help even if money is tight.
- If the lawyer and you agree with the process and move forward. Your lawyer will give you the contract on a contingency fee basis. It shows the percentage of lawyers who will earn only if they win your case. In that contract, everything is completely transparent and honest.
- Your lawyer will start to gather some essential evidence, speaking with witnesses, checking records, and making notes from official documents like medical records. The attorney covers these costs up front.
Here, you get a full investigation and substantial case preparation without paying any fees, and you will be free of financial stress. The lawyer takes on the financial risk, not you.
- For negotiations with the insurance company and the opposing party, your lawyer will take care of that. A lawyer will take your case to court only if it is required. During this process, your attorney works to get the highest possible outcome because their fee depends on winning. Their goals and your goals are perfectly aligned on the same path.
- Whether your lawyer wins the case, through a settlement or court verdict, they take the agreed percentage from the compensation, and you receive the balance amount. You pay only if the lawyer wins, so you’re not going to spend money without expected outcomes.
- If the lawyer loses or doesn’t settle, you don’t owe them. Do not have to pay any lawyer fees. You do not have to face any financial risk. In this way, a contingent fee-based lawyer works.
Key Takeaways
- You don’t have to pay up front, which reduces stress during a difficult time.
- If your lawyer wins, the lawyer will earn money, which creates a shared goal.
- You gain access to experienced attorneys who are confident in your case.
- The contingency fee-based system provides fairness and opportunity for people who might otherwise avoid legal help.
