Contingency Fees ExplainedCollections & Financial Claims

 

Many attorneys advertise that they are paid for their services on a contingency basis. While this has become a very common term, many people still do not truly understand how this works or why it is so beneficial to the clients.

 

What Are Contingency Fees?

 

When an attorney states that they work on contingency, this means that they do not require any payment for their services unless they win the case. This means that all of the work they perform on their client’s behalf is at no cost until the settlement is granted. At that time, the attorney will take their fees and costs from the settlement amount. The client is not obligated to pay anything if the lawyer does not win the case.

 

Why Hire on a Contingency Basis?

 

One of the main reasons that attorneys offer their services on a contingency basis to personal injury victims is because they believe that everyone should have quality legal representation when they have been injured, regardless of their current financial situation. Many injuries that occur prevent the injured party from gainful employment. If they have no income coming in, how can they pay upfront for legal representation? By working on a contingency basis, these injury victims can have legal representation without worry about the expense.

 

Why Is This Beneficial To The Injury Victim?

 

When an attorney has to win a case to get paid, the attorney will work even harder on your behalf to make sure that they win. Having to do their best at all times to make sure that they can get paid is just an added bonus for the client.

 

As a final benefit, many injured people are struggling financially from the injury and this causes emotional stress. By knowing that you have quality legal representation without having to cover the upfront expenses, you can relax a little and concentrate on your recovery.

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