If someone is injured in an accident due to the carelessness, recklessness, or intentional actions of another individual or organization, they might be hesitant to take legal action out of concern for the expenses associated with hiring an attorney and pursuing a lawsuit. However, it’s important to know that in Arizona, most personal injury lawyers work on a contingency fee basis.
What Is a Contingency Fee?
A contingency fee is a payment structure used for legal services. In this arrangement, the attorney or law firm agrees that the payment of their legal fees will be contingent on a successful outcome of the legal case.
If the case succeeds, the lawyer will receive a percentage of the financial amount their client will receive when they win or settle their case. If the case is unsuccessful, the lawyer will not be paid for the work they have done on the case.
However, even though the contingency fee percentage will be agreed upon, the actual amount paid to the lawyer will depend on various factors, such as litigation costs, risks involved, and the time taken to resolve the case.
The Advantages of a Contingency Fee Arrangement
There are many benefits to a contingency fee arrangement, especially when clients do not have extra funds to spend on legal issues. However, some of the other benefits that are associated with a contingency fee arrangement include the following:
- There are no fees upfront, meaning everyone can access legal help, even if they do not have money to pay a lawyer at the beginning of their case.
- Individuals will not have to pay their lawyer for their services if they lose their case.
- Lawyers will be motivated to do everything they can to secure maximum compensation, especially since they will only get paid if their client receives money from the other side or the insurance company.
To further understand the advantages of this arrangement, consider speaking with an experienced Arizona personal injury lawyer as soon as possible. These legal professionals can walk you through the details of a contingency fee arrangement and clarify its implications for your case.
The Questions To Ask Before You Enter into a Contingency Fee Arrangement
While a contingency fee arrangement can offer a lawyer and their client numerous benefits, before parties enter into this agreement, they need to first understand the risks associated with a contingency fee agreement.
For these reasons, consider asking a personal injury attorney the following questions before making a decision:
- What is the percentage amount of the contingency fee?
- How did you come to this amount?
- Will I be responsible for any advanced costs or other fees if we lose the case?
These questions can better help you understand the terms of the agreement and determine whether you are ready to hire the attorney to take on your case.
Contact Territorial Law, LLC, Today and Find Out How Our Legal Team Can Help You
For further information regarding contingency fee arrangements or how an Arizona personal injury can help you, contact Territorial Law, LLC today and review your case for free.