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Why Do Some Lawyers Work on a Contingency Basis?

Posted on : December 15, 2020, By:  Ronald Slonaker

If you or someone you love are in an accident, you may be worried about how you’ll pay for all the damages. Medical bills and vehicle repair are costly, not to mention time spent out of work while you recover. A lawsuit can help you get compensation, but many people mistakenly believe they have to pay out of pocket for their lawyer first. That’s not always the case — here’s what you need to know. 

How Does a Contingency Plan Work? 

When an attorney works on contingency, or accepts a contingent fee, this means that they work on the case at no charge until a settlement is awarded. Then, the lawyer takes a reasonable percentage of that settlement award. The plaintiff in the case does not pay anything up front or if they lose their case. 

Which Attorneys Work On Contingency?

The most common legal practice to use contingency payment arrangements in is personal injury, accident, and tort law. In most cases, people who have been hurt through no fault of their own don’t have the resources or money to pay for a lawyer to represent them and file a claim for compensation. Without contingency fees, most accident victims would not be able to pursue the restitution they deserve for their injuries. 

Accident attorneys will generally only take on cases that have a strong chance of being successful either during settlement negotiations or court if the case proceeds to litigation. This allows them to invest in cases they believe in and are engaged with, further increasing the plaintiff’s chances of success. 

How Will I Pay For My Injury Lawyer?  

Once the insurance company agrees on a settlement or a judge issues a settlement award, payment will be made to your attorney. Your lawyer will deduct any expenses related to your case outlined in your agreement, like travel costs or postage. Then, they will subtract approximately 30% of the rest and issue you payment for the remaining balance. 

Call Today for Legal Help 

Don’t wait after being hurt in an accident or being injured as a result of negligence to contact an attorney. It’s important that you move quickly to ensure that evidence is preserved and the defendant has less time to form a strategy to effectively refute your statements about the injury or accident and how it occurred. Contact experienced Florida personal injury lawyer Ronald Slonaker today for an appointment at 352.629.6656 or 352.777.8716.