Nowadays, may lawyers advertise that they work on a contingency basis, meaning that they abide by the phrase “no win, no fee.” But, with the already negative stigma imposed upon lawyers, the idea of a lawyer being paid on a contingency basis sounds like another ploy for a loan shark. Why would a lawyer work on a contingency basis? Is there some catch? Read also: Drunk Driving Dangers.
It may surprise you that lawyers working on a contingency basis is a very honest way to approach a claim or court case, and, both you and the lawyer benefit from the contingency form of payment. Contingency fee arrangements are most common with cases involving vehicle accidents, medical malpractice, or other personal injury claims.
How you benefit from contingency fees
Many people are initially hesitant about seeking assistance from a lawyer because of the high fees; however, with a contingency fee, more people now have access to lawyer services. This helps people who may not otherwise afford legal services to be able to obtain the justice they deserve. Read also: Do you need a car accident lawyer?
When a lawyer takes on a case on a contingency fee basis, all of the risk is on the lawyer financially and not on you. Because of this risk, you are assured that they lawyer will work even harder to obtain your rightful compensation.
If the lawyer is able to win your case, the contingency fee tends to take up a considerable amount of the compensation, sometimes being 30-50% of the compensation. For some, this seems like a very high percentage, but, again, this goes back to the risk factor. The lawyer won’t get any payment if he/she does not win the case. And also, by working from a percentage, you are assured that you are able to pay the lawyer fees.
In addition to lawyers working on a contingency basis, many of them also offer free consultations which benefit you as well as the lawyers. With lawyer services being more accessible, you have a better opportunity of obtaining justice and compensation for your injuries. If you are looking for a personal injury lawyer in San Francisco, consider the Law Offices of Roger L. Meredith. Or, if you are in Baltimore, the Law Offices of Lindsey B. Foster also handle personal injury cases. Read also: Accident Claim Solicitor – New York.