What Kinds Of Fees Are Associated With Personal Injury Lawsuits?
Attorney Eric T. Kirk will tell you.
There are no out-of-pocket attorney’s fees.
Transcript
Cases are generally handled on one of three types of fee basis. There’s a fixed or a flat fee where an agreed-upon amount is paid to a lawyer. There’s an hourly fee, where the lawyer charges hourly for their service, and then there’s a contingency fee. The idea of a contingency fee is that there must be something that occurs prior to an attorney being entitled to collect any money. That contingency is a financial recovery for the client.
What happens is that a percentage of the ultimate recovery in the case comes out and applies on account of attorneys’ fees. It’s contingent, so if there is no recovery, the client owes the attorney nothing at all. Now this often works well for an individual who has been injured in an accident, is out of work and perhaps has mounting medical bills and simply doesn’t have the money laying around to hire an attorney on a cash upfront basis.
