Contingency fees

What does it mean for a lawyer

 to work on contingency?

• Generally mean you do not pay anything up front until you win you case. Be sure the agreement says you do not pay until you actually collect. You can easily win a case, but never be able to collect a penny from the losing side
• Your lawyer's fee depends on the outcome of a case.
• Know that most contingency agreements are made because the lawyer is confident the case will settle and never need to go to a full blown trial. Many agreements terminate if and when the matter goes to trial.
• Insurance companies used to settle and pay go away money. Most refuse to do that anymore.
• Here are the basics on contingency fees which you need to know:
• If you win the case, your pay your lawyer a percentage or other agreed-upon portion of the settlement. You may also pay certain expenses.
• If you lose, you do not pay - your lawyer accepts the risk of not being paid when taking a case on a contingent basis.
• Contingency fees can prevent prohibitive upfront costs and allow for greater access to justice, particularly for middle class individuals who cannot afford a lawyer and do not qualify for legal aid. Pro bono does not apply here.
• What do most lawyers charge for a contingency fee? Contingency fees are tied to the success or failure of your lawsuit or other transaction. If your lawyer is successful in winning your claim or negotiating a business deal, he or she receives a fee calculated as a percentage of what you are awarded in a court ruling or the value of what you gain in a deal.