Many personal injury lawyers work on contingency. Here at the Law Office of James M. Stanley, so do we! But what are contingent fees, really?
ABA Definition
According to the American Bar Association, contingent fees are only paid to a lawyer if that lawyer handles a case successfully. The organization also notes that contingent fees are used most frequently in personal injury or workers’ compensation claims.
As part of their definition, the ABA warns clients that they may have to pay court filing fees, witness deposition charges, and other costs.
At our firm, this is never the case because we advance all costs of litigation.
Typically, we agree on a contingency fee of 33.3%, which is consistent with ABA standards.
This truly means that we don’t get paid unless you do.
Perks and Drawbacks
Contingency fees are beneficial because they even the playing field for plaintiffs who are up against large corporations. Because they pay nothing up front, our clients can obtain the same quality representation as the defendants in their cases, no matter how much they have in their bank account.
Additionally, contingency fees give your attorney(s) extra motivation to achieve the most favorable results in your case. A lawyer who works on contingency is skilled at identifying strong claims and won’t take your case unless they are confident in its likelihood of success.
Depending on how long it takes to settle the case, clients and attorneys can get frustrated. If a client gets a large settlement relatively quickly, they may feel like they paid their lawyer too much. Similarly, if a lawyer spends a long time on a case, they might feel like they are getting paid too little.
Ultimately, it is in everyone’s best interest to settle a case as efficiently as possible. The sooner your case is closed, the sooner you can receive damages and move on with your life.
If your attorney ends up with a higher hourly rate, consider it a reward for a job well done.
Nobody likes to deal with legal drama, so the sooner it is behind you, the sooner you can look towards your future.
We created the Law Office of James M. Stanley with one mission in mind: to protect, safeguard, and advocate for the injured. While it’s necessary to sustain our business, money is not our end-goal.
We’ve been fighting for justice since 1976 and work on contingency so we can be accessible to every person with a personal injury claim.
Get a FREE Consultation Today!
Now that you understand contingency fees, we hope you will consider letting us handle your case. We promise to be honest with you, earn your trust, and passionately represent you from start to finish – no matter how long it takes. To get to know our attorneys, call (817) 591-4222 and start with a free consultation today.