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What is a contingency fee agreement?

Posted by Kenneth Stalter | Nov 16, 2020 | 0 Comments

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.

About the Author

Kenneth Stalter

Ken Stalter graduated with honors from Harvard Law School in 2008. Before founding Stalter Law LLC, he was General Counsel to the New Mexico Attorney General. A former prosecutor and appellate attorney, he has experience with all levels of the New Mexico court system. His clients include New Mexi...

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