How Does the Contingency Fee System Work?
If you are injured in an accident, you may be concerned that you do not have the money to hire a good lawyer who can pursue compensation on your behalf.
Fortunately, many personal injury lawyers, including our Brunswick personal injury attorneys, work on a contingency fee basis. We do not charge any fees up front and only get paid for representing you if you receive a settlement or compensation award. Below, we discuss what this means and how it may benefit you.
Definition of a Contingency Fee
A contingency fee is a fee that is not due unless an attorney’s client receives compensation. Under this system, clients do not owe money up front for legal services. This arrangement allows you to avoid additional out-of-pocket costs on top of the costs associated with your injury.
The trade-off is you agree to pay a certain percentage of any settlement or award you receive to cover your lawyer’s costs. Your lawyer only gets paid if you win.
This arrangement is riskier for lawyers than it is for plaintiffs because the lawyer spends his or her time and resources with no guarantee of ever being paid.
Empowering Clients of All Backgrounds
Contingency fees significantly benefit accident victims who did not anticipate being hurt in an accident and who may not have the funds to pay a lawyer up front. It often costs $10,000 or more to pursue a personal injury case.
Under the contingency fee system, anyone who has a legitimate case may be able to pursue it, regardless of their financial resources or assets. This helps to level the playing field against large insurance companies and defendants with deep pockets.
What is the Standard Cost?
The percentage of the contingency fee that an injury lawyer in Georgia charges is based on several factors, including:
- Novelty and complexity of the case
- The attorney’s experience
- Nature and extent of the damages involved in the claim
- The client’s individual needs
- Whether the case is ultimately resolved via a settlement or at trial
Georgia law requires that the injury lawyer give the client a written statement about how he or she must be paid once there is a settlement or award. This statement should include the following information:
- The total amount of the settlement or award
- The amount paid to the attorney as a fee
- The amount paid to the client
- How these amounts were calculated
The experienced lawyers at Roden Law work in a transparent fashion and can explain our contingency fee arrangement during a free, no-obligation consultation.
What Costs are Paid Out of the Settlement/Jury Award?
Lawyers may incur fees for several expenses as they build a case and pursue compensation, including:
- Medical record costs
- Expert witness fees
- Consultation fees
- Printing fees
- Deposition fees
- Videographer fees
- Court costs
These are costs that are linked to the case but not directly to the lawyer’s services. These costs are usually paid out of any settlement or award. In a free consultation, our attorneys can discuss these costs and how they will be paid out of your settlement or award.
Contact Roden Law for More Information
If you would like more information on how contingency fees work, contact Roden Law. We can discuss your claim and explain your rights and legal options during a free, no-obligation consultation.
We have recovered millions in compensation on behalf of our clients and our founder Eric Roden is a member of The National Trial Lawyers Top 40 Under 40.