What Is a Contingency Fee Agreement?
Nov. 16, 2020
If you have been injured and are considering hiring an attorney, you have likely wondered whether you can afford the legal fees that might arise. After all, some attorneys charge hundreds of dollars per hour.
In a contingency fee agreement, the attorney fee is calculated as a portion of any settlement or judgment at the conclusion of the case, not on an hourly basis. This means that if the case is unsuccessful, you typically will not owe the attorney any fees.
Note that the contingency agreement usually only applies to the attorney's earned fee, while advanced costs and expenses are handled differently. Make sure to address that issue with any attorney you consider hiring.
Unless your case involves very unusual circumstances, you should be cautious of any attorney who wants to charge you an hourly rate in an injury matter. It likely means that the attorney does not believe in your case.