What Is A Contingency Fee In Law
August 23, 2017
In a moment’s notice, our lives can be altered in major ways. During those times, the help of a law firm may be the only protection we have against forces more powerful than ourselves.
Having skilled legal counsel when needed, oftentimes, can mean the difference between life moving smoothly forward and for it to come screeching to a halt.
Considering the expense, time, and seriousness of a lawsuit, and the fact that very few of us have the funds ready to hire an attorney when misfortune strikes, a contingency lawsuit offers a solution.
When it comes to lawsuits, contingency simple means legal fees are waived for the plaintiff. And in exchange, a law firm receives a percentage of the damages a plaintiff is awarded. In this way, cases can go forward, no matter the plaintiff’s ability to pay for legal services.
If you are a plaintiff seeking damaged from losses, a contingency lawsuit is a pathway that offers you the ability to pursue legal action without being billed by the law firm you hire. The law firm will also be obligated to give their best efforts and your case prominence as their livelihood depends on a winning case.
Common sorts of cases that lawyers will take on a contingency fee are those involving personal injuries, employment discrimination, sexual harassment, malpractice, and other cases in which there are likely to be substantial recoveries.
Typically, law firms ask for 35% of the amount of the damages won. If the firm loses the case, a plaintiff is not required to cover any of the costs of their case. The percentage varies from state to state and in some states, a cap is put on the amount legal representation can receive.
If you have been injured and you’re seeking monetary compensation, contact us at any time to discuss your case. We will be able to quickly determine whether your case qualifies for a contingency lawsuit.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney/client relationship. If you are seeking legal advice, please contact our law firm directly.