If you’ve been injured due to someone else’s negligence in Georgia, you may be considering hiring a personal injury lawyer to help you get the compensation you deserve. One common way personal injury lawyers charge for their services is through a contingency fee agreement. In this article, we’ll explain what contingency fees are, how they work, and why they could benefit you.
What is a Contingency Fee?
A contingency fee is an arrangement where your lawyer’s fee depends on the outcome of your case. Instead of paying a lawyer upfront or by the hour, the lawyer takes a percentage of the compensation you receive if you win the case. If you don’t win, you don’t owe the lawyer any attorney’s fees.
In personal injury cases, most lawyers work on a contingency fee basis. This means they don’t get paid unless you get paid. The percentage taken by the lawyer usually ranges from 25% to 40%, depending on the complexity of the case and whether or not it goes to trial.
How Do Contingency Fees Work in Georgia?
In Georgia, contingency fees are a popular method for hiring a personal injury lawyer. When you sign a contingency fee agreement with a lawyer, the agreement will clearly outline the percentage they will receive if you win the case. This fee is typically a portion of the total compensation awarded to you.
For example, if you are awarded $100,000 in your personal injury case, and your lawyer has a 33% contingency fee agreement, they would receive $33,000 as their fee, and you would keep the remaining $67,000.
It’s important to read the agreement carefully. Some lawyers may charge higher fees if your case goes to trial, as these cases generally require more work and time. Additionally, other costs, such as court fees and expert witness costs, might not be included in the contingency fee and may need to be paid separately.
Benefits of Contingency Fees
There are several reasons why choosing a lawyer who works on a contingency fee basis can be beneficial for people who are dealing with personal injury claims:
No Upfront Costs
You don’t have to pay anything out of pocket to hire a lawyer. This is a huge advantage, especially for those who are struggling financially after an injury. Your lawyer’s fee comes from the settlement or verdict.
Access to Legal Representation
Many people would not be able to afford a lawyer without the option of a contingency fee agreement. It allows you to get the help of an experienced personal injury lawyer without worrying about the cost.
Incentive for Lawyers To Win
Since lawyers only get paid if you win, they have a strong incentive to fight hard for your case. They want to get the best possible outcome for you because their payment depends on it.
Financial Relief During the Case
With contingency fees, you don’t have to worry about paying legal bills while your case is ongoing. This helps relieve some of the financial stress after an injury.
What To Consider Before Signing a Contingency Fee Agreement
While contingency fees can be helpful, there are a few things you should consider before signing an agreement with a lawyer:
Percentage of the Fee
The percentage your lawyer takes can vary. It’s important to discuss and agree on the fee structure beforehand. The more complex your case, the higher the fee might be. Make sure you fully understand how much of your settlement or verdict will go to the lawyer.
Additional Costs
Some costs, such as filing fees, medical record fees, or expert witness fees, may not be included in the contingency fee. Ask your lawyer to explain these potential costs upfront so you’re not surprised later.
Case Type and Lawyer’s Experience
The type of personal injury case you have and the lawyer’s experience can affect the likelihood of winning your case and how much they might charge. More complex cases may have a higher contingency fee percentage.
Timeline of the Case
Legal cases can take time to resolve. While you don’t have to pay upfront, keep in mind that it might take months or even years to settle or go to trial. Be prepared for the process to take longer than expected.
When Do You Pay a Lawyer on a Contingency Fee Basis?
With a contingency fee agreement, you don’t pay your lawyer until you receive compensation from your case. This typically happens after a settlement is reached or after a jury verdict if your case goes to trial.
If your case is settled outside of court, the lawyer’s fee is deducted from the settlement amount. If the case goes to trial and you win, the lawyer will take their percentage from the award you receive.
If you lose the case, you don’t owe the lawyer anything in attorney’s fees, although you may still be responsible for other costs like court fees or expert witness charges. You only pay your lawyer if you win your case, making contingency fee agreements an affordable way to pursue a personal injury claim.
Contact Our Brunswick Personal Injury Attorneys for a Free Consultation
A contingency fee agreement allows you to hire a personal injury lawyer without worrying about paying upfront costs. Your lawyer only gets paid if you win your case, and their fee is a percentage of the compensation you receive. It’s important to understand the details of your agreement and ask questions about the fee structure, additional costs, and the timeline for your case.
With the right Brunswick personal injury lawyer, a contingency fee can give you the opportunity to seek justice and compensation after an injury without the financial burden of paying upfront legal fees.
Contact the team at Mayfield Law, LLC, or call us today at (912) 457-8557 to schedule a free consultation. Give us a call today to let us get started helping you.