There are many different types of injury cases that fall under the umbrella of personal injury, including car accidents, motorcycle accident, big rig accidents, nursing home neglect, product liability, slip and fall accidents and dog bite accidents. If you have been injured and your case falls under any of these categories, you may be considering hiring a personal injury lawyer to help with your case. Most personal injury lawyers do not charge you by the hour; instead they charge a contingency fee. Here is key information you need to know about contingency fees.
What a Contingency Fee Is
A contingency fee basically means that instead of charging you a flat fee or charging you by the hour for your personal injury case, the attorney will get a percentage of your settlement or award instead. In many cases, if there is no settlement or award, the attorney does not get paid.
What the Benefits of a Contingency Fee Are
The biggest benefit of a contingency fee is that it helps people get representation without having to put a large retainer down or having to pay hourly bills from the attorney. The money is coming out of your settlement or award, so those who may not be working or do not have money can get legal help now.
What a Contingency Fee Covers
It is important to note that a contingency fee typically only covers your attorneys fees. They do not always cover case costs, which may include costs for experts, deposition fees, police report fees and private investigator fees. In many cases, case costs are taken from the award, followed by the contingency fee for your attorney.
Whether All Contingency Fees Are the Same
Most states have laws in place that limit the maximum amount of money that attorneys can charge for a contingency fee. However, as long as the attorney does not exceed this amount, they can charge what they want. Most attorneys charge a 30 to 40 percent contingency fees, but some may be less, so always ask what they charge before hiring a law firm.
If you were injured and someone else is responsible for your injuries, you likely have a personal injury case. Most personal injury lawyers offer a free consultation, so you can learn if you have a case, and then work for a contingency fee, rather than an hourly rate. This helps to ensure that everyone can get the legal representation that can help them to recoup money following a personal injury accident. Contact a personal injury attorney in your local area to begin the process of starting your personal injury case.