There is a misconception floating around that all attorneys are expensive and unaffordable. Many people fear they cannot retain the services of a good lawyer because the costs and fees involved will be too high. The truth is that there is a fee arrangement called a contingency fee that makes hiring a good lawyer possible.
What a Contingency Fee Actually Is
A contingency fee is when legal services are provided and a fee is paid upon a favorable outcome of the case. The most common way this is done is by paying a percentage of the client’s recovery to the attorney. This type of fee is fairly standard with personal injury cases. However, in most jurisdictions contingency fees are not allowed for family and criminal cases.
Benefits of Contingency Attorney Fees
The biggest benefit is that a contingency fee allows access to top notch lawyers for individuals that normally could not afford the high costs of an hourly attorney or litigation. A contingency arrangement also encourages a lawyer to work hard on the case since he or she only receives compensation with a successful outcome.
What Are Some Common Concerns With A Contingency Fee Arrangement?
A contingency fee does not guarantee a successful outcome. Lawyers sometimes decide to take cases that have the best chance of succeeding since they only get paid upon successful resolution. There are cases that are turned away because the viability of the claim is not obvious. Because investigation is required to see if a successful outcome can be reached, there are cases that are turned away simply because of the costs associated with the investigation.
Contingency Attorney Fees Versus The Costs Of Litigation
The cost of litigation and the contingency fee are components of your fee arrangement you need to be aware of. A contingency fee assures you that in the event you lose your case, you will not have a gigantic bill you owe your attorney. However, many jurisdictions still hold you to paying the costs of litigation. It is important that you talk with you prospective attorney to discuss how these fees will be handled and what you will be required to pay depending on all possible outcomes.
Getting injured is a troubling and difficult experience. If you suffer injury it is important that you be made aware of your rights. NJ personal injury lawyers can protect your rights and help you receive compensation for the the loss you have suffered. Contact a New Jersey injury law firm today.
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