If you have been injured in a workplace accident or a slip and fall, you may be entitled to compensation. A lawyer in Virginia specializing in personal injury law may be able to help you with your claim on contingency.
What is a Contingency Fee?
A contingency fee means a lawyer receives a percentage of the settlement, verdict, or jury award upon winning your case. This is an alternative to billing at an hourly or flat fee. With contingency fees, there are no upfront fees, also known as retainers. You don’t need any money up front to begin receiving a lawyer’s legal services.
Understanding Contingency Lawyers
With a contingency fee arrangement, the client doesn’t pay for their lawyer’s services out of their own pocket. Instead, whatever percentage the lawyer is owed will be deducted from the client’s awarded compensation.
If a case is settled, the lawyer receives a portion of the settlement amount. Likewise, if the case goes to trial, the lawyer will represent the client throughout the duration of the litigation process, and upon winning, the lawyer receives a percentage of the jury award.
Why are Contingency Fees Used?
Personal injury attorneys sometimes use contingency fee arrangements. The biggest reason is because it circumvents the cost of high-quality legal representation. If a client can’t afford a lawyer at an hourly fee, a contingency arrangement can benefit both parties.
How Much Is a Contingency Fee?
The percentage depends on the attorney but there are a few factors that may affect the percentage. These include:
Time and Effort: The amount of time and effort required to handle the case affects the fee.
Risk: Some cases have strong evidence and will likely lead to an award, while some cases don’t. The level of risk imposed by taking a case may also impact the fee.
Settlement and Trial: Most personal injury claims settle before trial. Settlement results in a quicker claim and possibly a lower fee. On the other hand, a case that goes to trial may require a higher contingency fee.
Hiring a Personal Injury Contingency Lawyer in Virginia
A contingency fee arrangement benefits both parties, but particularly an accident victim struggling with lost wages and medical bills. If you would like to discuss your personal injury case, please contact John Cook at Cook, Craig, and Francuzenko today. Our firm has attorneys who specialize in a variety of practice areas. With over 100 years of combined experience, we are seasoned professionals ready to help you.
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