What Are Contingency Fees?
If you’re hurt in an accident or if you need a lawyer to represent you in any type of case, you may wonder how to pay for legal services. Fortunately, some attorneys charge for legal services based on the outcome of the case. When a lawyer charges a fee that depends on the outcome of the case, the fee is called a contingency fee.
A contingency fee is a way to charge for legal services. When a lawyer charges a contingency fee, they collect a fee only if they succeed in winning the client’s case.
Instead of charging an hourly fee or a large downpayment for services, the attorney’s fee is based on the outcome of the case. With a contingency fee, the lawyer takes a percentage of the client’s payment as their fee. The client does not owe a fee until the client wins their case.
Let’s say, for example, a person’s attorney charges the client a 35% contingency fee. If that client receives a settlement of $30,000, then the attorney would receive 35% of that settlement, or $10,500.
What Are the Terms of Contingency Fees?
The terms of a contingency fee depend on the agreement between the client and the lawyer. The client and the lawyer agree on a percentage of the case winnings that the lawyer receives in a fee.
In most cases, the attorney deducts expenses that the lawyer pays to pursue the case on behalf of the client, like court filing fees and expert witness fees. It’s important that both the client and attorney agree on the exact terms of a contingency fee agreement. The attorney should put the agreement in writing.
Are Contingency Fees Beneficial to the Client?
Contingency fees give deserving people a way to have high-quality legal representation without having to find a large amount of money to pay up front. With a contingency fee, anyone can have the legal representation that they deserve, regardless of their ability to pay. In addition, because the lawyer’s fee depends on the outcome of the case, the lawyer has every incentive to work towards the best possible outcome for the client.
Does My Case Qualify for Contingency Fees?
Personal injury cases like accidents, slip and falls, nursing home abuse, torts, and medical malpractice may qualify for contingency fee agreements. Mississippi ethics rules do not allow contingency fee agreements for domestic cases like a divorce or child support case. In addition, contingency fees are not allowed for criminal defense cases. If you have any kind of injury case, your case may qualify for a contingency fee agreement.
Mississippi Attorneys Who Offer Contingency Fees
Are you wondering if your case qualifies for a contingency fee agreement? The attorneys at Richard Schwartz & Associates Injury Lawyer, P.A. can help. Their attorneys offer skilled representation for all personal injury matters.