If you cannot afford an attorney, a contingency fee arrangement can help you receive compensation for your injuries.
If you’ve been in an accident, you are likely feeling overwhelmed. Between pain and suffering, lost wages and mounting bills, chances are good that finances are tight — and your stress level is high. How can you afford to pay a lawyer to recover for your injuries?
The good news is that at the Law Offices of Larry H. Parker, we do not charge you any up front fees. Instead, we work on a contingency fee basis — so that we only get paid if we get money for you. So what exactly is a contingency fee, and how does it different from traditional hourly fees?
Contingency Fees
A contingency fee is the most common form of payment for personal injury cases. It is a written agreement between a personal injury attorney and his or her client. The lawyer agrees to represent the client without collecting any fees up front, and will collect a percentage of the judgement, settlement, or award once the case has been resolved.
A contingency fee agreement spells out exactly how the attorney will be paid. This includes the percentage that the attorney will be paid if the case settles or goes to trial, and how expenses are calculated (i.e., before or after the percentage is calculated).
This type of fee agreement can be highly beneficial for most victims of car accidents, bus accidents, slip and falls and other types of personal injury cases. The client will not have to pay any money up front or throughout the course of the case. The attorney will bear the costs and expenses of the investigation, court costs and other fees. If the client does not recover any money, he does not owe any fees (but may still be responsible for some expenses, depending on the fee agreement). Because the attorney only gets paid if he or she wins the case, there is a greater motivation for the lawyer to stay on top of the case and aggressively pursue an award.
Hourly Fees
In contrast, when a client agrees to an hourly fee, they will be required to pay an attorney as the case proceeds — and they may also have to pay a retainer (a sum of money) up front as well. The client and attorney come to an agreement on the hourly fee, and the client is charged based on the number of hours worked.
When you hire an attorney on an hourly fee basis, you will be charged for each phone call, email or appointment — in addition to the time your lawyer spends working on your case. This type of fee agreement works well for clients who have the ability to pay an attorney before they recover for their injuries, but it can be difficult for anyone who is out of work, facing high medical bills and ongoing medical treatment.
For most victims of accidents, including motorcycle accidents, big rig collisions, slip and falls and car crashes, a contingency fee arrangement makes more sense than an hourly fee agreement. Each person has to decide for themselves what will work best for them, and make sure to read the agreement carefully before signing anything.
At the Law Offices of Larry H. Parker, we never charge a fee unless we get money for our clients. We want our clients to focus on recovering for their injuries — not how they will be able to pay for their personal injury attorney. If you’d like to schedule a no-cost, no-obligation appointment with one of our highly skilled attorneys, contact our office today at 800-333-0000 or info@larryhparker.com.
