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Monday, February 10, 2014

What is a Contingency Fee Payment System?

One argument you hear a lot from people who want to restrict victims’ ability to pursue justice and compensation through the court system is that litigious and greedy personal injury lawyers clog the courts with frivolous, silly law suits.

The reality, of course, is drastically different. At The Cochran Firm and most other firms handling personal injury cases, our lawyers work under a contingency fee payment system.

A contingency fee payment system is designed to protect clients from the costs of unsuccessful lawsuits. It basically works like this: our personal injury lawyers only get paid if they recover an award for you. If your case is unsuccessful, your attorney does not receive a fee.

The personal injury lawyer receives a percentage of your final compensation. The exact percentage depends on the firm and the case, and we’ll be sure to discuss this in detail when you retain our attorneys.

So, for example, in a hypothetical case with a 30 percent contingency fee and a $10,000 award, the attorney would receive $3,000 and you would receive $7,000.

Finally, the personal injury lawyer’s expenses (investigating, arranging expert witnesses and other related expenses) are taken out of the total recovery. In our hypothetical case, if the lawyer spent $1,000 preparing the case, he would receive $4,000 total, and you would get $6,000.

This system creates an incentive for our personal injury lawyers to be honest with you about the prospects of your case. We only pursue claims we think have a reasonable chance of success.

If you need an experienced, trustworthy personal injury lawyer, please contactThe Cochran Firm today for a free consultation.

posted by Admin at 3:28 AM

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The Cochran Firm handles Civil Litigation and Criminal Defense claims for clients throughout the United States of America. The information on this website does not constitute legal advice nor form an attorney-client relationship.Please contact The Cochran Firm today to schedule a free consultation.

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