Today, most auto accident attorneys will charge you a contingency fee instead of an hourly or fixed rate. This fee structure is designed to ensure that the lawyer gets paid only after securing compensation, whether through settlement or court order. The percentage will vary with the attorney you choose, often ranging between 20 and 50%. The case’s complexity determines this percentage and whoever pays for the litigation costs. Most importantly, you need to understand why lawyers embrace this structure and its benefits. Here are a few insights.
To Ease the Client’s Burden
A contingency agreement aims at making the legal service relatively affordable and less cumbersome. This arrangement usually focuses on cases that might have put the client in strenuous financial situations. With considerable financial constraints, a person might not afford the legal service they need. This element could end up limiting their chances of getting justice.
At the same time, this arrangement implies that the lawyer will handle the litigation costs. That means they will pay for various services, including expert witnesses, travel costs, and reconstruction expenses. If the client were to handle all these expenses, it would put them under significant financial constraints in the long run.
This arrangement is also suitable for people who cannot afford legal fees. It allows this group of people to access justice without straining too much. Remember, some injured people might need to go up against the government, celebrities, or reputable businesspersons. Unless they have the financial muscle to get everything done right, they will not get the justice they desire.
A lawyer will only get paid if they win the case. That means they are likely to put in the most in the case, guaranteeing better odds in the long run. At the same time, this lawyer will hardly put their interests above yours. Their motivation comes from the fact that winning is what will put something in their pockets.
This incentive has a considerable impact on the client. The client can rest assured that the case will get the utmost attention, and the attorney will put in all the resources at their disposal. This element implies that you will have peace of mind during the process. This way, you can concentrate on your recovery and therapy.
Cushion the Client Against Losses
Various expenses go into facilitating a personal injury claim. These costs range from overhead costs, expert witnesses, court fees, filing fees, and obtaining evidence for reconstruction. Such expenses could run into thousands of dollars, which might be a significant burden to the client. A contingency agreement cushions you from this constraint.
Suppose you cover all the expenses mentioned above and you lose the case. In this case, you’ll face losses in various ways, from medical expenses and income losses to litigation expenses. The lawyer will be responsible for all these costs, protecting you against unwanted losses that could worsen your already constrained finances.
Allow Clients to Focus on Recovery
Personal injury claims could take a significant amount of time to complete, mainly if the insurance company is not ready to comply. This process could take a toll on you, especially if you are nursing severe injuries. A contingency agreement implies that you’ll not need to worry about the process or what is required, allowing you to recuperate within a significantly short time. In addition, the tiny amount of money you have at your disposal could help facilitate your treatment and therapy.
In conclusion, a contingency agreement is an excellent choice for both the client and the attorney. It enhances convenience, flexibility, motivation, and peace of mind. With the insights above, you can tell why it is popular.