If I Hire A Personal Injury Lawyer Do I Have to Pay Out of Pocket?
Most personal injury lawyers, and this one is no exception, handle cases on what is called a contingency fee contract. Distilled to its most basic, this is often billed as:
NO COSTS UNLESS WE WIN
It is probably more accurate to refer to it as a no cost and no fee unless we win arrangement. In other words, unless the personal injury lawyer gets a settlement or a favorable verdict for the injured person, that individual will owe the lawyer nothing. The lawyer in these arrangements is taking no small risk. It is not an uncommon complaint that retaining 1/3 of the amount received is too large a portion of the recovery. But consider the entire arrangement. The lawyer is advancing all the costs of the claim out of his or her pocket. If the case is litigated, the costs associated with litigation, including the fees charged by experts, can be substantial.
Many injury victims may lack the resources to front these types of expenditures. Moreover, the lawyer working under a contingency fee arrangement is agreeing to work for free, at least up until the time the case is decided. If it’s a favorable outcome, then the lawyer will get his or her earned fee. If it’s not a favorable outcome, then that lawyer has indeed worked for free. This no-risk notion is perhaps the most frequently overlooked component of this type of fee arrangement. The lawyer agrees to work for the client at no cost to the client. If the case is unsuccessful,for whatever reason, then the client has paid nothing. Both the advancement of litigation costs and a lawyer assuming the risk of no recovery are substantial benefits to the victim of a car accident or other forms of negligence.
I offer each of my potential clients an introductory claim analysis on a no cost basis Contact me today to arrange yours. 410 591 2835.
-This Article was updated by Eric Kirk on 9/3/20.