It is likely that you have heard the term before – contingency fee. What does it mean? How can it benefit you when you are seeking legal help and trying to weigh your options?
A contingency fee is essentially an agreement that allows you, the plaintiff, to obtain legal representation even if you cannot afford to pay an attorney at the start of your case. Instead, you would pay your attorney if your case ends favorably. If your attorney cannot win your case, you are not obligated to pay for the service or any other expenses the firm incurred in representing you. If they win your case, the fee you pay will be taken as a percentage of the compensation they secured for you.
This is often seen as a way of leveling the playing field for plaintiffs who are up against major corporations or insurance companies equipped with limitless resources, capable of burying even the most well off individual in time-consuming paperwork. Without having to worry about an hourly rate, or the prospect of paying for a long and drawn out trial without winning, plaintiffs are able to rest a little easier.
Not all contingency fees are the same. Some contracts may require for expenses to be paid along with a percentage of the awarded compensation. Additionally, some states may even impose limitations on the use of contingency fees as a way of ensuring that fees are kept fair and are not excessive. Missouri is one such state that requires contingency fee representation is cost effective and in the interest of the public.
At Strong Law, P.C., we are a personal injury law firm that operates on a contingency fee basis. We believe in what we do and in who we represent. When we take on a case, we give it our commitment, the efforts of our whole team, and the experience that has served our many past clients. We have obtained over 130 jury verdicts totaling upwards of $1 million and 6 verdicts worth more than $10 million.
Call us for a free consultation at (417) 855-2022.