It’s a common understanding that having an attorney increases your chances of winning a legal case. However, the concern about the costs associated with hiring a lawyer often lingers. Are the advantages of legal representation worth the expense? What happens if the case doesn’t go in your favor? Will you still be burdened with a hefty fee? But no worries! That’s where contingency fees come to play. Let’s unravel the definition of contingency fees and explain how it works.
What are Contingency Fees and How Do They Work?
Contingency fees are a type of payment arrangement commonly used in personal injury cases. With this fee structure, you don’t have to pay your attorney upfront or by the hour. Instead, your lawyer’s payment is dependent on the successful outcome of your case. In other words, your attorney only gets paid if they win your case or reach a favorable settlement on your behalf.
Contingency fees can be structured in various ways, and the specific terms may vary depending on the attorney and the nature of the case. Generally, the predetermined percentage of the contingency fee can fluctuate based on the stage of the legal process the case reaches. To determine the exact percentage that a lawyer may take from your settlement or award under a contingency fee agreement in Indiana, it’s essential to consult with an attorney directly.
What is the Purpose of Contingency Fees?
In personal injury cases, where expenses can add up quickly, contingency fees can make the difference. You can work with experienced attorneys who will put in the time and effort to fight for their rights, all without demanding payment until they secure a victory for you. It’s a win-win situation where you can focus on your case, knowing that your attorney is motivated to fight for your best interests.
But What Happens if You Lose the Case?
In the unfortunate event that you lose your case and receive no compensation, the typical arrangement for a contingency fee is that you won’t have to pay your lawyer anything for the work they have done on your behalf. Yes, you heard that right, if there is no positive resolution to your claim, you generally won’t be responsible for paying your attorney’s fees.
Contact Foley & Small
With the dedication of experienced attorneys, you can face the challenges of your personal injury case with confidence. In the unlikely event that you don’t receive any compensation, rest assured that under a typical contingency fee arrangement, you won’t be responsible for paying your attorney’s fees. At Foley & Small, your personal injury attorneys, we understand the challenges you face and are here to support you every step of the way. Contact us today to learn how we can help you navigate the legal process and strive for the compensation you deserve.