What to Know About Contingency Fees

contingency fee contract 586x278 1

Why You Should Seek Personal Injury Lawyers Who Work on a Contingency Fee Basis

You have likely watched lawyers on TV and in movies work on contingency so many times that you think all lawyers are hired this way. The lawyers on screen assure their clients, “I don’t get paid unless you do.” Now you might be asking, what is a contingency fee, anyway? This type of fee has risks attached to it, but can be beneficial to you as a client. Personal injury lawyers in Ottawa want you to know about contingency fees and why you should seek a lawyer who works on a contingency basis.

What is a Contingency Fee?

Simply put, a contingency fee is as described on television; your lawyer does not get paid unless your case is won. Of course, there is a lot more to it than that. A contingency fee is arranged based on a percentage, which is often between 20% and 45% of the proceeds. The fee and all limitations or provisions must be agreed on in writing before moving forward with your case.

What Are the Advantages?

The immediate advantage to you is that you will not be responsible for monthly legal fees that may accumulate over time. This can be especially beneficial if your case involves personal injury that limits your income. Additionally, you will have the peace of mind knowing that you will not have to pay any fees if your case is unsuccessful.

When Should You Seek a Contingency Fee Lawyer?

Contingency fees should be considered when seeking a personal injury lawyer in Ottawa. Due to the nature of the situation, you may have limited income or be unable to work all together. You will also want to consider the following elements when seeking a contingency fee:

● The likelihood of success for your case
● The complexity of your case
● The expected amount should your case be won
● The overall expense of pursuing your case

What Else Should You Consider?

It is important to keep in mind that everything needs to be agreed on in writing, including agreements about additional costs such as disbursements. These are out-of-pocket costs that personal injury lawyers make when pursuing your claim. These costs could include accessing copies of medical files, court filing fees, or expert witness costs. Additionally, your agreement should include a provision about how and when you or your lawyer may terminate the fee.

Although there is a lot more to it, your personal injury lawyers in Ottawa know that they can benefit from you while pursuing your claim. Remember that negotiating a contingency fee will give you the peace of mind and assurance that you need with legal representation that you trust.