What is a contingency fee?
As you search for a lawyer to handle your case, you are probably factoring in cost and fees into your selection process. After looking at several different lawyers’ websites, you will probably see a few different kinds of fees, including a contingency fee. If you are like most people, you are probably not sure exactly what this means or what stipulations come with it.
A contingent fee is agreement used in civil cases which means that payment to an attorney is not due until some recovery or award is received in the case. The lawyer, upon signing on your case, will usually make you sign a contingency fee agreement which allows for them to take a certain percentage (depending on how complex the case is) out of the amount of reward recovered from the case.
Most trial lawyers will not make you pay anything if they lose the case, but some will so read your contract thoroughly. In most cases, if the case is lost, the lawyer accepts the bill for all the work they have done towards your case and you will not owe anything.
Before you hire an attorney, make sure you are aware and comfortable with the cost and fees associated. Ask any questions or concerns you may have up front before signing any contracts.