What is a Contingency Fee Agreement in a Personal Injury Case?
After you’ve been in an accident, paying for an attorney on top of your already existing medical bills may seem daunting. This is where a contingency fee agreement can be beneficial. At Ross Moore Law, our metro-Atlanta legal team understands the financial challenges that come with recovering from an accident, and we’re here to help.
Keep reading to learn more about contingency fee agreements and how they can be beneficial to your personal injury case.
What is a Contingency Fee Agreement?
A contingency fee agreement is an arrangement made between you and your lawyer where you will only pay attorney’s fees if your attorney successfully resolves your case. Upon receiving a settlement, your payment will come out of the amount you were compensated for damages. Typically, the fee amount is a fixed percentage of your compensation that is discussed and agreed upon prior to the case.
Therefore, if you’re not awarded a settlement, neither you nor your attorney will receive any money. You may still be responsible for court filing fees or other charges, despite the outcome of the case.
How Do Contingency Fee Agreements Work in a Personal Injury Case?
If you and your attorney enter a contingency fee agreement, they will foot the bill for the costs needed to build your case, such as copies of medical records and accident reports or witness depositions. Your agreement will outline the payment amount your lawyer receives following the success of your case.
Furthermore, there are three different types of fees, and which types are used can vary based on your case’s individual details. A fixed percentage contingency fee is when the percentage of your settlement paid to your attorney is agreed upon in the beginning and does not change at any point during your case.
Moreover, a sliding scale contingency fee is when the percentage of payment may increase depending on any additional resources or time needed and what stage your case is at. For example, if your case goes to trial instead of being settled without a trial, your attorney may use a sliding scale system due to extra time spent on your case in court.
Lastly, a partial contingency fee is where you and your attorney agree upon a partial payment toward legal fees upfront and a contingency fee to be paid once you are rewarded your settlement. Since you would be paying a partial payment upfront, your contingency fee will most likely be lower because part of your payment went toward the attorney’s fees.
Advantages of Contingency Fee Agreements
Contingency fee agreements are the perfect fit for some cases. The main draw of a contingency fee agreement is that you don’t owe any money upfront, and if you lose the case, you won’t have to pay your attorney for the time spent and work done on your case.
Besides, since you’re not having to worry about every penny going in, this will allow your lawyer to take every step they can to win your case that would be costly for you without a contingency fee agreement. This includes subpoenas and depositions to help advance your case.
Contact Ross Moore Law Today!
Contingency fee agreements are helpful for those who need legal representation but may have financial constraints. At Ross Moore Law, we’re here to fight for your personal injury case and help determine if a contingency fee agreement is right for you. Our Atlanta-area lawyers are here for you!
Undoubtedly, if you looking for a local personal injury attorney to handle your case? Our team at Ross Moore Law is eager to put our experience to work for you. Call us today or book a free consultation online!
Lastly, conveniently located in the heart of Atlanta, GA, we are proud to serve clients throughout the surrounding areas of Athens, Alpharetta, Peachtree Corners, Marietta and more! In addition to Georgia clients, we welcome Tennessee clients as well! Get in touch today.
Attorney Ross Moore and our personal injury team handle a wide range of personal injury cases, including:
Discover More on Personal Injury Topics:
- Can a Personal Injury Case be Reopened?
- Gathering Evidence For Your Personal Injury Claim
- How Will My Criminal Record Affect My Personal Injury Claim?
- How to Find the Right Atlanta Personal Injury Lawyer
- How Will COVID-19 Impact Personal Injury Claims in Georgia?
- The Fundamentals of Personal Injury Law
- The Impact of Social Media on a Personal Injury Claim
- The Importance of Medical Care in Your Personal Injury Case
- The Tricks of Insurance Adjusters
- The Fundamentals of Personal Injury Law
- Understanding Policy Limits & Personal Injury Claims in Georgia
- What are the Most Common Types of Personal Injury Claims?
- What Damages Can I Receive In My Personal Injury Case?
- What Defines “Damages” in a Personal Injury Case?
- What is Comparative Negligence in an Accident Case? | Understanding At Fault State Laws
- What is Georgia’s Wrongful Death Statute?
- What Qualifies as Pain and Suffering in Georgia?
- 5 Things to Have for Evidence in Your Personal Injury Claim
- 5 Ways to Maximize Compensation for Your Personal Injury Claim
- 7 Tips to Finding the Right Atlanta Personal Injury Lawyer
- 23 Important Terms To Know for Personal Injury Claims