What Is a Contingency Fee Agreement?

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When you sue for damages after an accident, you should get a lawyer to help you. If you are worried about the cost of one, that’s totally understandable. That is why our Monmouth County catastrophic injury attorneys often work on a contingency fee agreement. Under this kind of arrangement, you do not have to worry about spending a lot of money upfront in order to pursue the compensation that you deserve.

What Exactly is a Contingency Fee?

A contingency fee only gets paid when a certain event happens. In personal injury cases, this means that a fee only gets paid when you have won a settlement. Your lawyer will take their fees from that settlement, leaving you the rest to pay for expenses stemming from your accident like hospital bills and lost wages.

Why Is a Contingency Fee Arrangement Good For Personal Injury Cases?

This arrangement works for personal injury cases for a few reasons. First, someone who has just been in an accident could already be suffering from financial troubles. There are treatments to pay for. They may have missed work due to their injuries. A car accident could mean expensive car repairs or the need to replace a vehicle entirely. Most people cannot afford a big payout to a lawyer on top of that.

The contingency fee arrangement also allows someone to pursue damages with the help of a lawyer even if they do not have a lot of money to spend. If a lawyer charges for their services upfront and someone cannot afford them, then this plaintiff might try to fight for compensation on their own. That can be tough. A contingency fee arrangement gives everyone, regardless of their means, a chance to pursue damages with the help of an experienced professional.

Will My Lawyer Get Paid More If I Do?

In most situations, the contingency fee you pay your lawyer will be a percentage of the settlement that you win. That means that your lawyer will end up getting paid more when you get paid more. So you can be sure that your lawyer is primed to fight for a fair and reasonable compensation offer!

What Can a Lawyer Do For Me?

Your lawyer won’t just calculate fair compensation and help you fight for it. They can also:

  • File your claim before the statute of limitations expires
  • Answer your questions about the legal process
  • Defend you from accusations of wrongdoing that could reduce your settlement
  • Prepare you to testify, if necessary
  • Gather evidence, talk to witnesses, and deploy expert witnesses to help make your case

Schedule a Consultation Today

So if you believe that you have a compelling personal injury case, don’t let your own financial situation be an obstacle. Contact the Wilton Law Firm to schedule a free consultation. We can tell you more about the value of your case and what our attorneys can do to help you.