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What Are Contingency Fees And Why Is It Helpful For Clients?

Would you like a lawyer but are afraid of the costs? We work on a basis of contingency fees. Contact Malloy Law Offices, LLC today!

A contingency fee is the attorney fee that is paid only if there is a favorable result. The lawyers work in return for a percentage of the settlement, verdict, or jury award. Additionally, they only get paid if their client recovers from the damages. There is no upfront charge for the lawyer’s services and the client does not have to pay out-of-pocket. Lastly, with contingency fees, if there is no recovery from the damages then there are no legal fees.

Why Are Contingency Fees Better?

Contingency fees are very common in personal injury claims. It is a way for those who may not be able to afford a lawyer’s hourly rate to pursue a claim. Also, injury victims won’t have to worry about legal bills on top of a medical bills and other injury expenses. Moreover, contingency fees work for both the attorney and the client. This is because the lawyer’s interests are accommodated with the client’s. An attorney will accept specific cases that are very likely to become successful. The more compensation the lawyer recovers for the client, the more the lawyer gets paid. With that being said, this gives the lawyer a big incentive to maximize the client’s recovery.

What Factors Go Into On The Amount Of Contingency Fees?

So you may be wondering, “Exactly how much are contingency fees?” The answer is, it all depends. Here are a couple of factors that can make vary the amount of contingency fees:

  • Time and effort – The amount of time and effort an attorney puts into a case affects the contingency fee. There are no straight forward answers that can tell a lawyer how difficult a case can be. However, experienced lawyers might be able to estimate how much time and effort a case may need
  • Settlement trials – Most of the time, personal injury claims are settled before a trial. If a settlement takes place, it may result in a quicker and more inexpensive way to finish a claim. If a claim goes to trial, there may be a loads amount of preparation and research that lawyers will have to seek

Contact Our Attorneys Today!

Here at Malloy Law Offices, LLC, we work on a contingency fee basis, which means you don’t pay us unless we win your case. We understand the physical, financial and emotional damage of any injury-causing accident. Let us work for you. To see more on how our attorneys handle these cases, click here to view more. Call (888) 607-8690 for a free consultation.