Many of you out there may have heard of the term contingency fee, but have no clue what that mean. Well a contingency fee is a percentage of any amounts that an attorney collects on your case. For example many personal injury attorneys work on this type of fee. Thus, what ever amount they recover from the insurance company the attorney get a certain percentage, usually this can range from as low as 25% up to 50% depending on the circumstances. Most average around 33%-35%.
Contingency fees make it so the average person can retain an attorney but not feel like that have to pay for a huge bill once the matter is resolved.
When working with an attorney don't just accept their fee unless it sounds right. If you think you are getting ripped off, talk with your attorney and make sure you understand the fee and how it works. Do not be afraid to ask for a reduced rate. Many attorneys will reduce their rate if it means retaining you as a client. Speak up and don't be scared.
Other types of cases that may include a contingency fee are collection cases, negotiating contracts or buy and sale agreements. The key to contingencies fees is that you as a client will pay nothing if the suit is not successful, so its low risk to retain the attorney, but you do sacrifice some money for this low risk. If you have a case that you would like reveiwed and possibly on a contingency fee please call me.
Jason C. Foulger
801-615-1951
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