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What is a Contingency Fee or "No Win-No Fee" Injury Lawyer?

What is a Contingency Fee or

When a person suffers an injury due to negligent behavior of someone else, the guilty party must compensate the victim. You generally need to hire a personal injury lawyer to increase the chances of receiving maximum compensation for the injuries sustained.

An important question that comes to the mind of most people when hiring personal injury attorneys is how they charge for their services. Many personal injury lawyers charge on a 'contingency fee' basis. In this post, you will learn what is meant by contingency fee and why it's better to hire a contingency fee lawyer.

About Contingency Fee Personal Injury Lawyers

Contingency fee personal injury attorneys charge for their services only in case of a favorable outcome. In case the outcome is not in your favor, you generally won't have to pay anything. The fee is based on a reasonable percentage of the settlement amount (often 33% to 40%). In other words, the fee is contingent on the outcome of the case.

You must pay contingency fee out of proceeds from the personal injury case. The fee is paid at the conclusion of the case or when an agreement is reached with the defendant or the defendant's insurance company.  

Now that you know what a contingency fee lawyer is, let's find out what are the benefits of hiring a contingency fee personal injury attorney.

Don’t  Worry About Additional Financial Distress

The foremost benefit of hiring a contingency fee attorney is that you don't have to worry about paying the attorney in case the settlement or verdict is not in your favor. By hiring an attorney on a contingency fee basis, you won't have to face additional financial burden when already stretched out financially due to missed paychecks and medical bills.

Pay Only in Case of a Win ("No Win-No Fee")

Most people prefer a contingency fee personal injury lawyer since they have to pay only in case of a win. You can hire a contingency fee personal injury lawyer with confidence knowing that you will only be charged if you receive a settlement amount from the guilty party.

Maximum Effort for your Case

You can rest assured that the personal injury attorney will work hard to try to win the case. This is because they are not paid unless you receive a payout from the defendant or their insurance provider. In this instance, your goals are aligned and this is the main reason most people retain a personal injury attorney rather than going alone.

If you or a family member has been injured, find an experienced injury attorney now by searching the PersonalInjurylaw.Guru directory.

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