Contingency Fees in Personal Injury Cases
You’ve been injured in an accident that wasn’t your fault. The last thing you want to do is spend any more money. Medical bills are piling up, and you’re missing time from work. The thought of paying an attorney upfront is daunting. But did you know that in Tennessee, you can likely hire an experienced personal injury attorney on a contingency fee basis?
Contingency fee agreements are becoming increasingly popular because they allow people who have been injured to level the playing field against large insurance companies and corporations. If you’ve been thinking about hiring an attorney but are worried about the cost, a contingency fee agreement may be the answer.
What Is a Contingency Fee Agreement?
A contingency fee agreement is an arrangement between an attorney and a client in which the attorney agrees to take on the case and only receives payment if there is a successful outcome. If there is no recovery, the client does not owe the attorney anything.
When it comes to hiring a lawyer, there’s no denying that it can get expensive. But here’s the good news – a contingency fee agreement is a way for you to avoid legal fees up-front. Essentially, you’re only gonna pay your lawyer if they win the case and get you some money. Otherwise, they don’t see a dime.
So why not go with someone who has skin in the game? Plus, this arrangement incentivizes your lawyer to work hard, because they only make money if they deliver results. Bottom line – go for the contingency fee agreement and put pressure on your lawyer to come through for you.
How Does a Contingency Fee Agreement Work?
When selecting an attorney for your injury case, it’s important to consider their approach to cost. While some attorneys may require a retainer upfront or charge hourly fees, most litigation attorneys handle personal injury cases on a contingency basis. This means that the attorney will not charge any fees unless they recover compensation for you.
On top of covering associated expenses like court fees and expert witness fees, the attorney will also receive a percentage of the final settlement or verdict as their fee. But don’t let this deter you from seeking legal counsel; securing fair compensation can often offset the cost of hiring an attorney and even result in additional financial recovery.
So if you’ve been injured due to someone else’s negligence, don’t hesitate to consult with a qualified lawyer who can fight for your rights and ensure you receive just compensation.
Why Would an Attorney Agree to Such an Arrangement?
While the cost of hiring a lawyer can be intimidating, contingency fee arrangements provide a solution for those concerned about affording quality legal representation. Attorneys who take on cases on a contingency basis only receive a payment if they win or settle the case, allowing clients to pursue their legal rights without the fear of incurring expensive fees.
This type of arrangement also benefits attorneys, as it allows them to select cases they are confident in, increasing the likelihood of a successful outcome.
Taking on contingent cases also allows attorneys to represent individuals and small businesses who may not have the resources to pay for hourly billing arrangements, leveling the playing field against larger opponents with deeper pockets. Ultimately, contingency fee arrangements offer an opportunity for both attorneys and their clients to seek justice regardless of financial constraints.
Types of Cases an Attorney Would Handle on a Contingency Fee Basis
Contingency fees are an increasingly popular way to pay for legal services, especially in personal injury cases. In a contingency fee arrangement, the attorney agrees to receive a set percentage of any money recovered for the client, regardless of how much time or work is involved in the case. If no money is recovered, the attorney does not get paid.
The following are some common types of cases that are often handled on a contingency fee basis:
Car Accidents
If you’ve been injured in a car accident that wasn’t your fault, you may be wondering how you’ll be able to afford an attorney. After all, medical bills can be expensive, and if you’re unable to work because of your injuries, you may be struggling to make ends meet. A personal injury attorney can help you get the compensation you deserve, and many times these cases are handled on a contingency fee basis. This means that you won’t have to pay anything upfront; instead, the attorney will receive a percentage of any settlements or verdicts awarded to you.
Slip and Fall Injuries
If you’ve been injured in a slip and fall accident, you may be entitled to compensation from the property owner. These cases can be complex, however, and often require the help of an experienced personal injury attorney. Many times these cases are handled on a contingency fee basis as well; this means that you won’t have to pay anything upfront or out-of-pocket costs. The attorney will only receive a payment if he or she can successfully recover compensation on your behalf.
Medical Malpractice
If you or a loved one has been a victim of medical malpractice, you may be entitled to compensation. These cases are complex and often require expert testimony to prove that negligence occurred. Many times these cases are handled on a contingency fee basis; this means that the injured party will not have to pay any upfront or out-of-pocket costs. The attorney will only receive a payment if he or she can successfully recover compensation on your behalf.
Conclusion
Choosing whether or not to hire an attorney after being injured in an accident can be difficult. If you’re worried about how you will pay an upfront retainer fee, consider pursuing a contingency fee agreement with a Tennessee personal injury lawyer. In most cases, these agreements allow clients to pay nothing unless their case is successful—and ultimately help level the playing field against big insurance companies.
