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What Is A Contingency Fee?
October 13, 2021

What Is A Contingency Fee?

If you have to take time off from work because of an accident, or a work-related injury, the financial consequences can be devastating. If you need an attorney to help you recover the damages you deserve, you may think the fees will be financially devastating as well. However, a contingency fee agreement means you do not pay your attorney unless you win a settlement or judgment for your damages.

If you win your case, your attorney will collect a percentage of the recovery amount. Different attorneys charge different commissions based on the type and complexity of the case and your location.

Why A Contingency Fee Agreement is Beneficial

Contingency fees range from 35% to 40% for attorneys. The most common way to recover monetary damages is through mediation, settlement, arbitration, or trial, and the lawyer’s fee is only due if money is recovered. You are under no obligation to pay your lawyer upfront if he or she takes a contingency case, eliminating any financial risk.

Hourly or upfront attorney fees, expert witnesses, court costs, investigators, and other costs can add up quickly. Besides providing justice and compensation to the average person, contingent fee arrangements give access to quality representation, regardless of your financial means. Anytime you suffer injuries by another person’s negligence, you deserve compensation for your damages. Damages may include:

If you are in Houston, Dallas or San Antonio, contact Jim Adler & Associates for a free consultation about recovering these damages. It is common for insurance companies to have attorneys and adjusters who work tirelessly to minimize payment amounts. Having an experienced and skilled attorney on your side can significantly increase the amount of compensation you win, and is often necessary if you must proceed to trial.

Why Do Attorneys Take Contingent Fee Cases

Attorneys who accept contingent fee cases take a lot of risks based on faith that they will share the rewards if they win your case. Attorneys are careful to take cases they feel confident will result in an award for the client and will also allow the attorney to cover the costs of representation.

A higher settlement amount means more money for you and your attorney. While the lawyer takes the risk, does the work, and collects a settlement percentage, you receive quality representation, justice, and fair compensation for damages and injuries.

Interpreting the Contingency Agreement

Before you sign the contingency fee agreement, make sure you understand the purpose and calculation of the contingency fee. The attorney’s fees will depend on how the case turns out, but both you and your attorney must agree to the percentage beforehand. Attorneys strive to settle most personal injury cases through negotiations with insurance companies. Court trials are rare, as it is more cost-effective and less stressful for clients to receive compensation as soon as possible. While trials are rare, it is essential to note that the attorneys at Jim Adler & Associates are willing to take the case to trial if necessary to win the compensation you deserve.

In reviewing the agreement, make sure you understand whether the contingency fee will be taken out before or after expenses. The answer can make a substantial difference in your final settlement amount. At Jim Adler & Associates, we strive to provide transparent fee agreements and welcome any questions you may have.

Our Team is Here to Help You Recover the Damages You Deserve

In the event of someone’s negligence causing you injury, understanding your rights is essential. Consult our attorneys in Houston, Dallas or San Antonio if you’ve suffered a loss. If you want to know if you have a strong personal injury case, call our law firm at 1-800-505-1414 to get a free case review.

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We only get paid if we win your case, so you know we will do our best to fight for you.