“What’s a contingency fee?”

“What’s a contingency fee?” How Personal Injury Lawyers Get Paid

So you’ve been hurt in a car accident and you’re shopping around for a personal injury attorney. The injury attorneys you talk to all tell you that they work off of contingency fees. What does this mean exactly?

A contingency fee arrangement is where a personal injury lawyer takes a percentage of the total amount of money recovered. Contingency cases have some caveats and it’s why they are a great option for someone who has been hurt in an accident.

In a contingency arrangement the attorney fronts the expenses of the case. This is very important to an injured person for a variety of reasons. Personal Injury cases can be extremely costly to litigate. Some examples of normal expenses in an injury case are filing fees with the court, paying for medical records, expert fees, deposition fees, and court reporter fees. These expenses can mount extremely quickly and for a normal person, its usually not within there budget or feasible for them to pay for all these fees.

Also in a contingency fee agreement, the attorney does not get paid unless you win your case. This is beneficial to the client because if the case goes south, then the client is not out thousands in hourly attorney fees, but rather will not be out anything.

How much is a typical contingency fee agreement?

Contingency fees varying depending on case type. Cases like, car wrecks, slip and falls, and dog bites are typically thirty-three percent (33%). Many attorneys may charge forty percent (40%) for these type of cases if a lawsuit is required. Cases such as product liability, or medical malpractice are typically forty-percent (40%).  

If you’re in search of a personal injury attorney, Olson & Reeves can help. Our Personal Injury Law Firm works off of a contingency basis as we’ve described in this article. We always offer free consultations, and unlike other injury lawyers, we will happily come to you if you can’t come to us. We proudly serve Southern Illinois, representing clients who have been harmed in accidents, and we would love to be your trial team. Call us today to schedule your free case evaluation.