What is a Contingency Fee and How Does it Work?
There are a number of things I would like to share with you about contingency fees and how they work. A lot of times people simply do not understand what they are. I would like to share the advantages first. The big advantage is that there is no money upfront, no hourly fee or monthly billing. After a car accident you do not have the money to be able to pay for a lawyer. Many people make the mistake to wait to hire a lawyer because they thought it was going to cost them money. At Ransin Injury Law it will not cost you a dime to consult with me, discuss your case, get your questions answered and find out what your options are. There is no money upfront due by you, no hourly fee and no monthly fee. This is the first of the advantages.
No Recovery, No Fee
The second advantage on the way a contingency fee basis helps you is that not only are the fee conditional, meaning that if the result is zero, then the fee is zero. Simply; No Recovery, No Fee! I also put up expenses, meaning I advance money to pay for expenses related to your injury claim on your behalf. From conducting the investigation through working up the case. Both the fee and the expenses are conditioned on the outcome of the case. So if the rare chance the recovery is zero, then the fee will be zero.
Understanding Court Costs
While we have just explained the contingency fees and expenses another important aspect you need to understanding is court costs. If you have seen a TV commercial featuring a law firm, then you might remember the disclaimer that states you may be responsible for court costs. When a lawsuit is filed, both sides incur what is called court costs. In the United States the winning party of the lawsuit will be reimbursed the court costs. So if for some reason you lose your case, then you will be responsible for the court costs. Keep in mind that court costs are much less than the expenses that the attorney is providing. Basically court costs are filing fees and cost of depositions.
We Share the Risk With You
Another advantage of the contingent fee basis is that I share the risk with my client. All plaintiff personal injury and death claims are risky, there is no guaranteed outcome. So I share in the risk with you fronting expenses for medical experts, accident investigation and so on, but with no guarantee of payment because unless we win you will not have to pay. So we create a partnership, working together as a team, fighting for the same result; a fair and just result to your injury claim. This is one of the major advantages of the contingency fee agreement.
David v. Goliath
The last and one of the most important reasons the contingency fee basis can help you and your family is that your injury claim is essentially a David v. Goliath battle. We are the little guy verses the multi-million dollar insurance company. The insurance company has all the resources, all the expertise and all the money to fight you. With the contingency fee basis you are able to partner with us, giving you the knowledge, expertise and resources needed to successfully fight the insurance company for the full compensation you and your family deserve.