Contingency Fee

Contingency Fee If another party injures you, they might be responsible for your damages. Damages include your physical injuries, but they also include your pain and suffering, your financial losses, and permanent impairments. Filing a personal injury claim is the first step in obtaining fair compensation for your damages.

However, you may wonder if you need a New York City personal injury attorney to handle your case. If so, you may worry about how you are going to pay attorney fees.

Many accident victims face this dilemma. They need help with an injury claim, but they do not have money to hire a lawyer. However, we have good news for you.

Our law firm accepts personal injury cases on a contingency fee basis. So what does that mean for you? First, it means that you can hire a personal injury lawyer in New York City without paying any up-front legal fees.

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What is a Contingency Fee?

Attorneys may bill for their legal services with an hourly fee, flat rate fee, or contingency fee. Most personal injury lawyers accept cases on a contingency basis.

Attorneys who work on a contingency basis do not require a retainer fee. Instead, their fees are based on a percentage of the compensation they recover for you, if any. The attorney fee is contingent on the attorney recovering money for you. If the attorney does not recover money for you, you do not owe them any fees.

How Much is the Typical Contingent Fee?

You and your lawyer will agree upon a percentage for the contingency fee before you engage them to represent you. The American Bar Association’s Model Rules of Professional Conduct discusses the requirements for contingent agreement in Rule 1.5.

The percentage may be based on a variety of factors, including:

The attorney’s experience, education, special certificates, and skills
The geographic area where the law firm is located
The complexity and type of personal injury cases
The number of parties involved in the case
The amount of time expected to be spent handling the case
The contingency fees customarily charged for similar legal services by other lawyers
The anticipated duration and nature of the attorney-client relationship

When the attorney obtains the settlement proceeds or a jury verdict, the attorney deducts his fees from the amount before giving the remaining funds to the client.

What are the Benefits of a Contingency Fee?

Because the attorneys’ fee is directly tied to the outcome of the accident claim, attorneys working on contingency fees are highly motivated to obtain maximum compensation for injuries. Therefore, the more money attorneys recover for their clients, the higher their contingency fee.

There are two main benefits for the client. The first is that the client does not need to pay any money to hire an experienced New York City personal injury lawyer. Second, because the attorney does not charge upfront fees, accident victims can access qualified, successful, and knowledgeable legal counsel, regardless of their financial situation.

Second, the client does not pay any attorneys’ fees if the attorney does not recover money for the client’s case. Thus, the client is protected from an expensive legal bill to pay even though the client did not receive any money for their claim.

What Types of Cases Have Contingency Fees?

It is the attorney’s decision whether to take cases on a contingency fee.

Examples of cases that might have contingency fees include:

The attorney should have a procedure for contingency fees. While it is up to the lawyer to charge for services, the attorney should not discriminate in how he charges for legal services.

Fees and Costs of the Case May Be Separate

In addition to the attorney fees, there may be costs and fees for the case. Examples would be:

Mailing and postage fees
Copy fees
Expert witness fees
Travel costs
Deposition and discovery costs
Medical records fees
Court filing fees

Talk with the lawyer about fees and costs before hiring that attorney. Make sure you understand who is responsible for paying these costs, when the costs must be paid, and what happens to the fees if the attorney does not win your case.

Call Our New York City Personal Injury Lawyer Today for a Free Consultation

You have been through a traumatic event. You may not be sure where to turn for advice and guidance. We do not suggest relying on an insurance claims adjuster for advice.

If you or a family member sustained injuries in an accident, at the Law Offices of Jay S. Knispel Personal Injury Lawyers, we want to help. Contact our law firm to schedule a free consultation with an experienced New York City personal injury lawyer.

Obtain legal advice and honest case assessments from an experienced, dedicated advocate for injury victims in New York.