What Does It Mean When a Lawyer Works on a Contingency Fee Agreement?
The cost of hiring an attorney can be prohibitive for many households. That’s why The Tawwater Law Firm goes out of its way to help working families in and around Oklahoma City, OK. Whenever you meet with our skilled personal injury attorneys to discuss your case, your initial case review is totally free.
In addition to free initial consultations, our legal team also works on a contingency fee basis.
You may have heard this phrase used in different contexts. We’re here to give you a definition of contingency fee representation and outline the benefits to clients in the Sooner State.
What Does Contingency Fee Representation Mean?
In basic terms, contingency fee representation means your lawyer doesn’t get paid unless your case is successful.
There are no retainer fees or upfront costs. When you settle your case out of court or win in a civil trial, the attorney is paid a set percentage of your settlement or verdict amount.
If your case is not successful, the lawyer does not get paid.
An Example of Contingency Fee Representation
For this example, let’s say a client was in a serious car accident with another driver who was reckless.
Rather than pay a retainer for legal services, the client hires a lawyer who works on a contingency fee basis.
The case goes all the way to trial and the jury awards the plaintiff $750,000 to cover their injuries, ongoing medical needs, and property damage. The plaintiff’s lawyer earns a set percentage of that jury award.
Key Benefits of Contingency Fee Representation
There are a few key benefits to this kind of legal representation, which is why our Oklahoma City lawyers take it so seriously.
No Need to Pay a Retainer or Hourly Fees
A qualified injury attorney or medical malpractice lawyer can be expensive. With contingency fee representation, you don’t have to worry about the upfront expense. Instead, your attorney only gets paid for the work they do if they win an award in your case.
No Risk on Your Legal Investment
If you pay a lot for legal representation, you hope to see a return on your investment through a settlement or verdict. With contingency representation, you will see a return if the lawyer can win. In a sense, you won’t overpay an attorney if your settlement is lower than expected.
Save Money While Getting Quality Legal Representation
If you were in an accident with a commercial big rig driver, you might be up against a high-powered defense team hired by a trucking company. Contingency representation helps even the playing field, allowing normal people to get high-quality legal representation that rivals big companies. This can be particularly helpful in defective product lawsuits against major corporations.
Put Your Available Finances Into Healing, Recovery, and Grieving
Rather than using all available funds to pay for legal representation, you can put your money toward your current needs, like medical costs and physical rehabilitation. You can also focus on grief counseling and mental health services following the loss of a loved one while your wrongful death lawyer puts all of their knowledge and resources into your case.
With Free Consultations, You Have Nothing to Lose When You Contact Our Law Firm
If our Oklahoma City legal team represents you, you owe us nothing unless we can win you money. There’s no risk or obligation. Get quality lawyers on your side. Contact our law firm today.