After being injured in an automobile collision, many people experience mounting medical bills and lost time from work. On top of that, they are wondering how they are going to be able to afford an attorney to help them deal with the person who caused the accident’s insurance company that is not offering enough money to cover the damages!? This is where the contingent fee plays an important role in personal injury cases.
A contingent fee allows personal injury lawyers to recover attorney fees after a case is settled or won. Therefore, if no money is generated from the case, the attorney does not get paid, regardless of how many hours were spent on the case. This is different from most criminal defense attorneys who charge by the hour. Most attorneys charge 1/3 of the total recovery for attorney fees, but this can vary.
Most states require that the agreements of the contingency fee be in writing. Contingency fees are also regulated by The Rules of Professional Conduct, which all attorneys must follow.
Contingent fees allow people access to the justice system based on the validity of their claims, not how much money they can pay an attorney.