If you were recently involved in a car accident and have been researching car crash attorneys to represent you, you may have encountered the term “contingency fee.” What does it mean to pay a car accident lawyer a contingency fee?
What Is a Contingency Fee Agreement?
When a lawyer charges on contingency, this means they only collect payment if they win your case. Instead of charging you upfront or billing by the hour, they’ll take a percentage of your final settlement or court award. You pay nothing unless they recover compensation for you.
This contingency fee arrangement shifts the financial risk from you to your attorney. They’ll invest their time, resources, and experience into preparing and pursuing your case, and they only receive payment when they successfully recover compensation.
How Contingency Fee Agreements Help Car Accident Victims
Simply put, car accident lawyer contingency fee agreements remove the financial barriers that prevent many accident victims from hiring qualified legal representation. You don’t need thousands of dollars on hand to retain an attorney who charges a contingency fee. This payment structure also aligns your attorney’s interests with your own — they succeed only when you do.
In return, your lawyer absorbs the case-related expenses, from hiring expert witnesses to obtaining medical records. Then, if they win your case, they’ll recover these costs from your settlement. You can focus on your physical recovery while they handle everything else.
Contingency Fee Lawyer vs. Hourly Fee Attorney
Hourly-fee attorneys present a very different set of circumstances for accident victims. They’ll charge you for every phone call, email, and minute spent on your case. The legal fees can quickly reach into the thousands of dollars, and you owe them whether you win or lose. Contingency fee structures eliminate this uncertainty. You know exactly what percentage your attorney will take if they recover compensation for you.
Questions to Ask Before Signing a Contingency Fee Agreement
Before you sign a contingency fee agreement with an Alabama car accident attorney, you need to understand exactly what you’re agreeing to. Ask questions and review the contract carefully so you’ll feel confident in your decision. Some important questions to discuss with your personal injury attorneys before signing include:
- What percentage will you take if my case settles before trial, versus if we go to court?
- Who pays for case expenses like expert witnesses, court filing fees, and medical records?
- Will you deduct expenses before or after calculating your percentage?
- What happens if we don’t recover any compensation?
Engaging in a productive conversation with a prospective car accident lawyer helps ensure you enter into the attorney-client relationship with clear expectations and no surprises down the road.
Contact Our Car Accident Lawyers to Learn More
Ready to discuss your case with a contingency fee car accident lawyer in Alabama? Reach out to Collins Law, LLC, to learn more about our legal services. Since we handle car accident cases on a contingency fee basis, our firm will put its years of experience to work to fight for the compensation you deserve after a crash at no upfront cost or financial risk to you.
