How do a Contingent Fee Agreements Work?
A contingent fee means you only pay a legal fee if you win. And then only out of the money your lawyer recovers for you.
Why Would a Client Want a Contingent Fee Agreement?
Contingent legal fees provide access to justice. Persons who can’t afford or don’t want to pay attorney hourly fees up front can still get first rate legal help. The contingent legal fee opens the courthouse doors to all persons with a good legal case. If you are offered a contingent fee agreement, then your lawyer believes he can win your case.
Why Would a Lawyer Agree to a Contingent Fee?
Dentists don’t do that. Doctors don’t do that. You’ll never find a doctor who gets paid only if the surgery is sucessful. Why would an attorney agree get paid only if he wins?
- It provides access to justice. Contingent fee agreements allow deserving clients to get a fair legal result without the risk of losing both the case and the fees.
- Keeping track of time in a case is distracting and a waste of time for the lawyer.
- Contingent agreements motivate the lawyer. Everybody loves a winner, and lawyers are no exception. They will be motivated to work smart and get that win.
- Contingent fee agreements encourage the lawyer to only take cases he believes he can win.
- Injured persons have suffered a loss before they ever needed an attorney. Paying a lawyer up front feels like losing twice. Nobody wants to do that. Injured persons with a strong case but limited funds need to get legal help. The contingent fee agreement allows that.
Contingent Fee Agreements Work
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