Contingency fees are a type of payment for legal services where you only pay if you are granted a favourable outcome. In the case you receive payment through winning your case or a negotiated settlement, only then will you pay your legal team through a pre-selected rate.
This form of payment is especially useful for those worried about financial issues and might avoid seeking legal counsel out of fear of losing. Knowing the advantages and disadvantages is beneficial for those who have any doubt in their mind about seeking the compensation they need.
The advantages of this payment method include:
Contingency fees are typically set at a standard percentage of winnings by the firm you hire as your legal team. Its important to note that the percentage set can be higher or lower based on the circumstances of your case. The main factors involved include:
These factors may sound intimidating at first, but confirming with a legal firm in a consultation will give you a better picture of how your case may play out.
While this is a popular way of paying for legal services, do not feel obligated as there are other methods of payment. Other options include an hourly rate for services or even a flat rate at one fixed amount for the period. While these forms of payment may cost you less if you win, you will still pay regardless of your case’s outcome.
Choosing the right form of payment can be a big decision, but it’s important to weigh the factors and outcomes to come to an informed decision. Always compare contingency fees between different personal injury firms before signing any agreements, and take advantage of the free consultations they provide.
At Findlay Personal Injury lawyers, we believe you deserve a fair chance at getting the appropriate compensation you need for your injuries. Our standard fee for service is 30% of the damages and costs recovered. If you would like more information about our fees and services, please call us at 905-522-9799 or visit one of our locations.
Disclaimer: The information throughout this website is not intended to be taken as legal advice. The information provided by Findlay Personal Injury Lawyers is intended to provide general information regarding personal injury law, catastrophic injury cases, wrongful death claims, medical malpractice lawsuits, car accidents, truck accidents, motorcycle accidents, and more for residents of Hamilton, Burlington, Stoney Creek, Brantford, Niagara Falls, and nearby areas in Ontario. This website is not intended for viewing or usage by European Union citizens. If you are interested in learning more about our law firm, please contact us for a personal consultation.