Posted in Contingency Fee
Most of the time, people who are injured or have been damaged by another’s wrongdoing want to hire an attorney to pursue a claim. But what if you can’t afford an attorney? Fortunately, some attorneys work on a contingent fee basis. Under this type of an arrangement, the lawyer only gets paid if you make a recovery. If there is no recovery, you pay the lawyer nothing. This allows a person who has little money to fight a large corporation that has unlimited financial resources. Lawyers most commonly take personal injury cases on a contingent fee basis. However, you can also hire a lawyer on a contingency fee basis for a business dispute or other disagreement involving money. Before taking such a case, the lawyer will carefully analyze the facts and try to determine the likelihood of success and whether the defendant has sufficient assets from which to recover. If the lawyer takes your case, he or she also takes the risk that there will be no recovery. There are many times where a client hires a lawyer and incurs tens of thousands of dollars in legal fees, only to lose the case or get a less than favorable result. Hiring a lawyer on a contingency fee basis means the lawyer only gets paid if you win. It completely eliminates the risk of losing your case and still having to pay substantial attorney fees. The next time you pursue a legal claim, make sure to discuss a possible contingency fee agreement with your lawyer.