What is a Contingency Fee in a Personal Injury Lawsuit?
Injuries are foreign to no man or woman, race, or creed. Injuries are as universal as the human experience itself as is eating or drinking and breathing. But when we are wrongly injured, that can bring about a whole slew of options, and more unfortunately, complications for the parties and subjects afflicted. Personal injury attorneys handle thousands upon thousands of cases and claims every year, whether from accidental damage, company negligence, or other unique situations one may find themselves in. With many of these cases, it is very common for there to be a contingency fee, which many may not understand the meaning of.
A Brief Understanding on Personal Injury
What is a personal injury, and how is it classified? Most injury cases are classified as and under tort cases. Tort is when there is an act or omission that then results in the injury or harm of another. These acts or omissions amount to and can correspond to civil wrongs for which a court can impose liability.
Often these cases are created to provide relief to the injured or harmed parties, and to impose liability on the responsible party. The burdens carried by the injured party will typically go to the party responsible for the injuries and harms, or to whoever is best suited to bear the burden of any losses incurred. Most commonly, these cases are settled for specific monetary compensations.
Contingency Fees Explained
A contingency fee, in the simplest terms refers to a contingency, or a contractual agreement that is based on the occurrence of a specific event. A contingency fee itself is a fee that is agreed upon between an attorney and their client, for a specific set of circumstances.
In most cases, a contingency fee will be an agreed percent amount of monetary compensation an attorney will receive from a successful case, under the circumstance that the attorney has indeed successfully generated compensation for their client.
These fees vary, but are commonly around a third of the compensation awarded to the client. It is also common that many contingency fees focus on the notion of not charging for services, should the client not be awarded compensation at the end of the case.
Contingency fees might have some worry about seeking help, but in any case, an attorney is a good direction for any professional legal help, as it is what a personal injury attorney has invested their experience into. As mentioned, negotiating is not only healthy for your financial worries being calmed, but also to open up and trust your attorney representing you during your time of struggle.
Do You Have Contingency Fee Questions or Need a Personal Injury Lawyer?
Injuries are no stranger to the vast majority of Americans, and frankly, humanity as a whole. If you have been injured and are unsure of what your options are, rest assured, there is help. Our professional staff of attorneys are suited to help guide you through all your legal options and questions you may have. From contingency fees, to claims, our Orlando personal injury attorneys here at Payer Law is here to help you. Please do not hesitate to give us a call today at 866-930-1238 to speak with us about your case.