In most cases, lawyers are entitled to a certain amount of money for the legal services they render to their clients. After all, law firms are business entities just like any other organization.
However, there are certain situations where you may get involved in a car accident and don’t have the upfront money to pay for a reputable accident lawyer. This is where the idea of a contingency fee comes in.
What is a Contingent Fee?
A contingent fee is a form of payment to a lawyer that only happens if you end up receiving some kind of monetary compensation after winning a personal injury case. In other words, the lawyer fee is pegged on you winning the case. A typical lawyer fees for a car accident is approximately 35% of the settlement.
Why Does Contingency Fee Exist?
It would be difficult for many people to access legal services without contingency fees. This is because most individuals don’t have money set aside for legal issues that might arise in the course of their lives.
How Contingency Fee Helps Everyone to Get Justice
1. It gives an opportunity for those without money to access legal services
As mentioned earlier, it would be hard for average citizens to access legal services if the concept of contingency fee was not available. For example, an accident victim with limited financial resources may not be able to file a lawsuit to seek compensation. But with a contingency fee, they can hire an accident attorney and have the fees paid later after winning the case.
2. It adds an extra protection layer against “frivolous lawsuits”
When it comes to a contingency fee, no lawyer will accept to undertake a lawsuit that doesn’t have merit. This is because a lawyer will never invest a lot of his time and money executing a case that has little chances of winning. This extra layer applied in every case helps reduce the number of cases filed hence saving time and resources.
3. Contingency fees ensure that both the interest of the lawyer and those of the client are tied together
The plaintiff is likely to get proper representation because the lawyer understands what’s at stake. Tactics like wasting time or delaying the case are eliminated since the lawyer will be using his or her own resources to pursue the case.
4. Contingency fees level the ground both for the poor and wealthy in court
If the idea of contingency fees was absent, then it would be almost impossible for the poor to get justice. This is because lawyer fees are often high and it would be difficult for the average American to raise that amount and access justice. But with a contingency fees arrangement, an accident victim can still hire a lawyer and seek compensation similar to a powerful organization or wealthy individual.
In case you suffer injury in an accident, it is imperative to have a qualified and experienced lawyer by your side. A car accident lawyer will increase your chances of winning the case and getting compensated accordingly.
