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What is a contingency fee and why is it beneficial?

On Behalf of | Jul 10, 2023 | PERSONAL INJURY - Personal Injury

A lot of people who have been injured in a serious car accident know that they need help. They tend to find themselves drowning in financial hardship at a time when they’re in pain and unable to work.

While these accident victims can escape their overwhelming feelings of despair by filing a personal injury lawsuit against the individual who caused their harm, some of them hesitate to do so because they fear that they can’t afford the representation that they need.

What is a contingency fee?

Fortunately, some law firms work on a contingency fee basis. Here, the lawyer handling the case doesn’t get paid unless and until financial damages are recovered. This fee structure has many benefits for car accident victims, including the following:

  • The attorney is motivated to win the case since they won’t be paid if they lose.
  • There’s no risk to the car accident victim, as they don’t have to pay any fees upfront and will only pay a portion of what they recover if they win their case.
  • The victim can gauge the strength of their case based on whether an attorney who works on a contingency fee basis is willing to take it.
  • The victim is left with little concern that their attorney is doing everything possible to try to win the case.

Although a contingency fee arrangement may be beneficial, you shouldn’t base your legal representation decision on that alone. Instead, make sure you’re fully analyzing your options so that you receive the support that you want.

Find the path forward that’s right for you

There are a lot of different ways that you can approach your case. You have to find the one that best positions you for the outcome that you want. Therefore, before jumping in with your personal injury case, you’ll want to carefully think through your options and develop a strategy that maximizes your chances of winning your case.