Most people have a common (but incorrect) idea that hiring a lawyer is pricey and can empty your pockets. Therefore, many accident victims hesitate to acquire legal help, even with strong injury claims. They fear that hiring a professional legal talent will add more financial pressure on top of other damages. The good news is most personal injury law firms work on a contingency fee basis, which means you won’t have to pay your lawyer unless financial compensation is rewarded for you.
However, you must be selective when hiring a San Francisco auto accident lawyer, as not all contingency fee agreements are similar. Therefore, it is essential to choose a firm that is reasonable when it comes to case costs. The San Francisco Injury Lawyers Legal Firm provides the most robust and reliable legal representation without upfront payments via fair contingency fee contracts.
What Are Contingency Fees?
A contingency fee agreement is a contract between a lawyer and a client. If the client recovers cash after a settlement or ruling, the attorney is reimbursed with a specific percentage of that money. In case the client loses, the attorney does not get paid. Most San Francisco personal injury lawyers do not demand an upfront payment. Instead, they prefer working on a contingency fee.
With a contingency fee, you pay attorney’s fees only if you win the case. While the attorney’s fee will be a portion of the compensation amount you gain through a concession with the insurance company or if your case goes to trial and you win, a portion of the compensation will be used to cover your legal fees.
Contingency fees can be of two types, as discussed below:
#1) Fixed Contingency Fees
A fixed contingency fee implies that you’ll pay your lawyer a predetermined amount after the settlement of your claim. The amount you are compensated doesn’t matter in this case.
For instance, if you and your attorney agreed to a fixed contingency fee of $20,000 and you received $50,000 rather than your actual claim of $100,000, the attorney’s payment will remain the same. The same rule applies if you acquire a higher amount of compensation money.
#2) Sliding Contingency Fees
Conversely, sliding contingency fee agreements are more adaptable. It implies that your injury attorney gets a percentage of the compensation amount granted to you after a court verdict or a settlement. The flexible nature of these contingency fees suggests your attorney will get more money if you obtain higher compensation.
For example, the percentage of contingency fees awarded to personal injury attorneys is almost 33%. Therefore, if your compensation is $100,000, your lawyer will get 33% of this settlement amount.
What Are the Benefits of Contingency Fee Arrangements?
Contingency fees are not needed in personal injury cases. However, most car accident law firms use this fee agreement as it makes more sense for the attorney and the client.
Such fee contracts allow injury victims who can not afford to employ a lawyer to seek legal compensation. With a contingency fee, they can do so without any risk. They are not bound to pay the lawyer if they don’t regain money in a case.
Moreover, contingency fee agreements align the attorney and client’s interests. The lawyer gets paid if the client does and the payment fee is a certain percentage of the recovery.
For car accident victims, there are many advantages to preferring a contingency fee arrangement to hire a lawyer:
#1) No Up-front Costs
Without the up-front funds for an experienced San Francisco auto accident lawyer, an accident victim might be out of luck – but the contingency fee agreements by various competent lawyers have changed this. Contingency fees are exclusively helpful as they consent for quality legal representation in cases where someone has been injured because of another person’s careless actions but cannot monetarily cover the attorney costs.
#2) Shared Motivations
Attorneys working on a contingency fee agreement have a built-in encouragement to confirm that they work as hard as possible to help you get a promising consequence because your attorney can’t get paid unless you get legal compensation. Moreover, the amount your attorney gets is based on the size of your entitlement. Therefore, your attorney will be highly driven to do anything to attain the best possible result.
#3) Minimal Financial Risk For Accident Victims
Another benefit of using a contingency fee system is if things don’t result positively and your case is unsuccessful, you won’t have to concern about paying a large sum for an attorney’s fee. in some cases, you might be liable for some administrative costs. You should always have a copy of your contingency fee agreement in writing so that you can relate to it to confirm you know exactly what the contract is between you and your attorney and how much you settled to pay.
The bottom line is that contingency fees help car accident victims seek compensation for their injuries. In many cases, people do not hire lawyers and end up settling their cases for less money. With a contingency arrangement, you are relaxed knowing that you will have representation without necessarily paying monthly legal bills.
Things To Consider Before Entering A Contingency Fee Arrangement
Contingency agreements are lawfully binding. In a written contract, the client’s signature is essential to formalize the arrangement. Before agreeing, you should know certain things, as mentioned below:
- An approximation of the compensation amount you might get for your car accident claim
- The probability of your car accident claim succeeding
- An estimate of the contingency fee your attorney will demand
- Any possible liability fees you pay if you don’t win the case
In addition, you should read the whole contract thoroughly and clarify anything you don’t figure out or find complicating. More importantly, educate yourself about car accident laws in your state. It will help ensure your attorney is not overcharging.
Can You Negotiate The Contingency Fee?
Contingency fee cases sometimes offer a risk because the attorney does not get anything unless you win the case. However, the risk is less if you have more chances to win the case. With a lesser risk, the more conveniently you will find an attorney ready to take the case.
If your case is strong and has a high probability of success, you might be able to negotiate a lesser contingency fee for a significant amount of damages. However, negotiating for a lesser amount will require tolerance and a little work–you may need to move around to find an attorney willing to take on your case for your desired fee.
Some attorneys might offer a different contingency fee contract based on the time spent on the case. For instance, the lawyer may charge a 25% contingency if your claim resolves before a court trial, 30% if the case goes to trial, and higher rates if the case goes to the inducement process.
Hire A Capable San Francisco Auto Accident Lawyer Via A Contingency Fee Agreement, Right Now!
If you were harmed or lost a loved one due to the negligent actions of another person, you should file a claim to get compensated for your loss. At San Francisco Injury Lawyers Legal Group, our experienced San Francisco personal injury lawyers are committed to ensuring our clients recover compensation for their damages and other expenditures. We also work on a contingency fee agreement to ensure you get the compensation you legally deserve. Your legal representation will start with a free consultation.
Call us today to get consultation and legal help from our expert attorneys!