If you’ve been injured in an accident in Kentucky and are considering filing a personal injury claim, you may have questions about how to afford legal representation. One of the most common fee arrangements is the contingency fee. Understanding how a contingency fee works is important for anyone considering legal action after an injury.
What Is a Contingency Fee?
A contingency fee is a payment arrangement where your lawyer only gets paid if you win your case. This means that instead of paying the lawyer upfront or hourly fees, you agree that your attorney will receive a percentage of the settlement or award you receive if your case is successful. If you don’t win, you won’t owe them any fees.
This fee arrangement allows individuals who may not have the funds to pay for legal services upfront to still get access to skilled legal representation. It shifts the financial risk away from you, the client, and places it on the law firm.
How Does a Contingency Fee Work?
Here’s how a contingency fee works in the context of a personal injury case:
Free Consultation
Initially, you will meet with an attorney to discuss your case. This consultation is often free. This allows you to understand the potential merits of your case without any financial obligation.
Signing an Agreement
If you decide to move forward with your lawyer, you will sign a contingency fee agreement. This agreement outlines the percentage the lawyer will receive if you win your case. It may also explain any additional costs that you could incur.
Settlement or Verdict
If your case is successful, either through a settlement or trial verdict, your attorney will receive a percentage of the recovery as payment. The fee percentage is typically between 30% and 40% of the total amount. It all depends on the complexity of the case and whether your case goes to trial.
If You Don’t Win
If you do not win the case, you generally do not owe the lawyer any fees for their work. However, there may still be certain costs that you are responsible for, such as court fees or expenses for expert witness services.
This arrangement is designed to align the interests of the client and the lawyer. Both parties are motivated to win the case and maximize the financial award.
Advantages of a Contingency Fee Agreement
A contingency fee arrangement offers several key advantages for personal injury victims:
Access to Justice
Individuals who cannot afford traditional hourly legal costs can still access top-notch legal representation without the need to pay upfront fees. This is especially important for those who have suffered serious injuries and are dealing with mounting medical bills, lost wages, and other financial burdens.
No Financial Risk
You won’t owe any legal fees if you don’t win your case. This reduces the financial risk for you, allowing you to pursue a claim without worrying about paying for legal services out-of-pocket if you’re unsuccessful.
Other Costs That May Apply
While contingency fees are the primary cost for legal representation in personal injury cases, additional costs may be associated with your case. These include:
- Court Filing Fees: These are costs associated with filing your lawsuit with the court.
- Expert Witness Fees: If your case requires expert testimony (for example, medical professionals to explain your injuries), these costs are usually passed on to the client.
- Investigation Costs: Your attorney may need to hire investigators to gather evidence in your case.
Before signing an agreement, your lawyer should explain all potential costs associated with your case so there are no surprises.
How Can a Contingency Fee Help You?
By agreeing to a contingency fee, you’re giving yourself the opportunity to pursue compensation without financial risk. If you have been injured in an accident due to someone else’s negligence, you might be entitled to compensation for:
- Medical bills (past and future)
- Lost wages
- Pain and suffering
- Property damage
- Emotional distress
With a contingency fee, you can afford to take action and pursue justice. You will know that you don’t have to bear the burden of legal fees unless you win your case.
Contact Our Kentucky Personal Injury Lawyers Today
If you’ve been injured in an accident and are considering legal action, contact our team Ross Mann Personal Injury Lawyers at (859) 413-3900 today. We will give you a free consultation and explain how a contingency fee arrangement can help you pursue justice. Let us fight for the compensation you deserve while you focus on your health and well-being.
