It is no secret that hiring an attorney can be very expensive. However, personal injury law firms often operate on a contingency fee basis for maximum affordability. Essentially, you do not have to pay any legal fees unless the attorney secures a settlement on your behalf.
Before you enter into your case, you and your attorney will sign a contract. In this contract will be the terms of the contingency fee agreement. If your attorney does win your case, he or she will take an agreed-upon percentage of your settlement as payment – usually around 33%. This reduces your out of pocket costs.
If your attorney does not win your case, he or she does not have anything to take payment from. As such, contingency fees incentivize the attorney to win your case. When hiring your personal injury lawyer, choose one that offers a contingency fee arrangement.