No Win, No Fee: The Risk-Free Way of Attorney Compensation Comes with These 4 Benefits
Things happen in life that are not fair, but sometimes those things deserve to be put right. When you or someone you love has received personal injury in a car accident, nursing home, medical practice, or other situation, you may be able to pursue a case against the person who caused those damages.
In many cases, the victim of harm or neglect just accepts their injury, feeling that they simply can’t afford to hire an attorney to fight. However, many personal injury attorneys have what is called a “No Win, No Fee” compensation, or a contingency fee, making working with a lawyer risk-free for you.
What is a Contingency Fee?
Instead of paying the hefty amounts upfront that it can take to bring a lawsuit to conclusion, many attorneys choose to create payment terms with their clients in which you avoid out-of-pocket costs. With a contingency fee, your attorney will get paid a percentage of your settlement. This means if you don’t win, they don’t get paid.
With this type of case, the risk is solely on the attorney, but the possible win of the settlement makes it worth it for many lawyers. The client, you, benefits from a “no win, no fee” case in many ways.
- You don’t have to go broke to fight your case.
Before you even speak with an attorney, you may have to pay a consultation fee. Then there is the retainer, which can run in the thousands of dollars. After that, you are responsible for other fees, such as time spent creating documents, making copies, paying for employees, and more. This can add up to overwhelming amounts if you are paying it along the way.
However, with a contingency fee payment agreement, you pay nothing out of your pocket and your lawyer only gets paid on all of the work they and their employees did if you win.
- Your attorney will be motivated to work hard.
If you hire a lawyer with the agreement that they are working on a contingency fee basis, they have a vested interest in the success of your case. Do your research to ensure that you have hired professional, respected, and knowledgeable personal injury lawyers that work hard to deliver the results you deserve.
- You will have peace of mind when your attorney makes suggestions.
Sometimes it is hard to know if your lawyer is giving you the right options. However, knowing that their payment is based on your successful outcome, you can trust that whichever direction they are guiding you in is likely the right one that you should pursue.
- Should you lose, you don’t have the added weight of financial stress.
Of course, there is always the possibility that, no matter how hard your attorney works for you, you may not win your case. There are many variables involved in a final determination. All of these variables are impossible to control.
If you pay your attorney and you still lose, you now have a financial burden on top of the disappointment of your lost case. However, in a contingency fee, if you do not win, you still walk away not owing your lawyer a penny.
Why Not See if an Attorney Can Help You?
Find an attorney who will give you a no-cost consultation to determine if you have the factors necessary for a strong lawsuit. Then, if they agree to a contingency fee, it’s risk-free for you, and you can fight to get the compensation you deserve.