What are Contingency Fees?

Following an accident resulting in injuries individuals often have one question:

“How am I going to pay the bills needed to recover?”

Many people believe that attorneys are expensive and they choose not to pursue compensation because they fear it is too costly.

In order to provide compensation to those who need it, regardless of how financially stable they are, many attorneys work off of contingency fees. Contingency agreements help those who are usually unable to hire an attorney, hire one.

So what is a contingency fee?

Contingency Fees Explained

Often, personal injury cases take longer than a traditional criminal case, for example. With the large amount of work and research the attorney must do, the cost would add up very quickly if they charged an hourly rate.

For this reason, many attorneys choose to work on a contingency basis. A contingency fee is a fee that is contingent on the outcome of the case. What this means is that a personal injury attorney will be paid a percentage of what the plaintiff receives as compensation.

How Much Will They Keep?

While the amount in which the attorney will keep depends upon the case and how much you agreed on, in many cases the number is around 30%. However, this number tends to increase if the attorney has to take the case to trial, as this will require more work for the firm. In cases as such, the percentages are typically formulated by the length of the trial.

What If They Lose?

While our attorneys at Scot Kraeuter personal injury don’t ever plan to lose, that is still a question many people have. Typically, when a case is lost there will be no fees recovered by the attorney, which makes hiring an attorney based off contingency essentially risk-free. However, there are some situations in which the firm will still recover for different charges associated with preparing the case.

Contacting Scot Kraeuter

If you or a loved one have found yourselves in an accident due to the negligence of another driver, contact us today to schedule your free case evaluation. Our seasoned personal injury attorneys work around the clock to ensure our clients get the best possible outcome.

Call us today at (912) 209-6513 to begin seeking the compensation you deserve.