Being involved in an accident is unnerving and scary, but it can also result in cascading medical issues. When someone experiences injury because of another party’s negligence, the most pressing challenge can be financial. If this is your situation, and you are financially struggling due to missing work or mounting medical bills, savings can rapidly be depleted – leaving you anxious and uncertain about the future. The good news is that hiring a personal injury attorney doesn’t have to cost a lot – in fact, you are not required to pay anything upfront if the law firm represents you according to a contingency fee structure.
If you are looking for legal representation following a personal injury, a contingency fee model can offer significant benefits.
Potential Attorney Fee Structures
The most common fee structures in the legal industry include the following:
- Flat Fees
- Hourly Rates
- Contingency Fees
Flat fees are typically most appropriate for a lawyer who works on cases and claims that have a predictable outcome and workload. Flat fees are rare for high-profile or high-dollar situations. Instead, they are most often seen in the drafting of contracts or in simple, no-contest divorces. An attorney feels comfortable charging a one-time, set fee in these situations because the vast majority of their cases followed a similar path to completion.
Hourly rates are behind the reputation that attorneys have for garnering exorbitant fees. Lawyers who charge their clients by the hour work to represent them in the best possible manner – no matter how long or how much work it may entail. If the total amount of resources necessary to bring the case to a close is a virtual unknown, attorneys may charge an hourly rate as their only way to ensure that their efforts are adequately compensated.
Both hourly rates and flat fees are typically unaffordable for most people seeking a personal injury claim. Personal injury lawyers are aware of their average client’s situation, which is why they often utilize a contingency fee structure to ensure their clients get the very best representation with no fear of financial risk.
Contingency Fees are Standard For Most Personal Injury Lawsuits
The primary benefit of contingency structures is the guarantee that a victim pays nothing to their attorney unless they successfully obtain a settlement or judgment in court. In most cases, a contingency fee is considered positive for both the attorney and their clients, as long as the client understands and agrees with the percentage their attorney will be paid after a successful claim or lawsuit.
A contingency fee structure permits those who require personal injury representation to promptly seek a free consultation. Without worrying about expensive attorney fees, a victim who genuinely needs legal representation can hire the attorney they believe will best fight for their compensation. With a contingency, there are no hidden fees, and the client understands that the attorney will receive a percentage of funds from any award.
Personal injury attorneys also prefer contingency fees when agreeing to represent a new personal injury client. Potential clients are more willing to call for a consultation if they don’t have to pay for it – increasing the future business of the attorney. Even if the majority of the compensation is reimbursed to the victim, an attorney can expect fair compensation if they win the case.
Call Probinsky & Cole today to learn more about how we will work to obtain the compensation you deserve for your personal injury claim. Your initial consultation is free of charge, and you will never be charged a fee unless we recover a settlement or judgment for you.
