If you are faced with a legal issue, one of your primary concerns may be how much a lawyer will cost. You may even be tempted to handle your own case instead of reaching out to a legal professional for advice. However, you should know that lawyers frequently work on a contingency fee basis with certain case types (often personal injury and other matters based on negligence). That means you won’t pay anything until you win.
If you have questions about your specific case and want to know more about our No Win No Fee Guarantee, call David I. Fuchs, Injury & Accident Lawyer, P.A. We will listen to your story and help you determine if a lawsuit is the best option for you.
What Is a Contingency Fee?
A contingency fee is a method of paying a lawyer for their legal services. While some attorneys charge an hourly rate, often requiring a large up-front deposit called a retainer, lawyers who work on a contingency basis receive their legal fees if their client wins the case.
Contingency fees are used in most personal injury and workers’ compensation cases. They aren’t generally permitted for criminal or divorce cases, as that appears to encourage illegal activity or more divorces.
In a contingency fee agreement, the attorney only gets paid for their time if they help the client successfully receive compensation. Thus, the attorney’s fees are “contingent upon” the client winning compensation through a settlement or jury verdict.
How Does the Client Benefit from Contingency Fees?
The most significant benefit to the client with a contingency fee agreement is that they don’t have to pay any money upfront. In fact, they don’t have to pay any money for legal fees unless they receive compensation from the defendant.
A client also benefits from a contingency fee because the ability to file a lawsuit against someone who was negligent or acted wrongfully is not limited to those who can afford the expensive legal process. The legal arena has traditionally discriminated against economically challenged individuals and minorities. When an attorney works on a contingency fee, they level the playing field and allow anyone with a valid claim to go to court and get what they deserve.
What Is Our “No Win, No Fee” Guarantee?
The “No win, No fee” lawyers at David I. Fuchs, Injury & Accident Lawyer, P.A. utilize a contingency fee agreement to allow victims of negligence to file a personal injury lawsuit without worrying about the legal costs. We take on the risk of paying for all expenses up-front, and we don’t ask for any legal fees unless you win.
As an accident victim, you should not have to carry the burden of the expensive legal process. When settlement negotiations fail, a personal injury case can cost between $15,000 and $30,000, or up to $100,000 for more complex cases. When you use our legal representation, you only pay if you win.
Why Do Personal Injury Attorneys Work on Contingency?
Attorneys often work on a contingency fee basis because they may be able to get a higher rate of pay by taking on all of the risk upfront for the client. This is not always the case, especially if a complex lawsuit takes a significant amount of time to settle.
Pros and Cons of Using a Contingency Fee Lawyer
There are multiple benefits and challenges when you sign a no win no, fee agreement.
Some of the pros of contingency fees include:
- You only pay if you win.
- You won’t pay any legal fees upfront.
- Your attorney will work hard to get their legal fees and your compensation.
Some of the cons of having a contingency fee agreement include:
- You may have to pay for expenses like expert testimony, court filing, and other costs
- You may be liable to pay for legal fees if you abandon your claim or if it is fraudulent
- You will ultimately have to pay your attorney a percentage of the compensation you win
Attorney Fees Explained
Attorneys must comply with specific rules of professional conduct when establishing and charging fees for their work. For example, attorneys are required to have a written agreement detailing fees that the client signs.
How Much Do “No Win, No Fee” Lawyers Cost?
The Florida Rules of Professional Conduct apply to personal injury and property damage claims —common in car accident cases. They establish what may be considered an appropriate fee for no win, no fee lawyers to take. Lawyers who charge more than these amounts must have court approval.
Examples of acceptable contingent fees, according to the Florida Bar Association, include:
- 33 1/3% of any recovery up to $1 million if your case settles before filing court documents or demanding an arbitrator.
- 40% of any recovery up to $1 million if your case settles after court documents are filed or an arbitrator is utilized.
- 30% of any amount obtained between $1 million and $2 million by settlement or trial verdict.
- 20% of any recovery above $2 million.
The Florida Constitution limits the amount of a contingent fee that a lawyer can take in a medical malpractice case. A client is entitled to at least 70% of damages up to $250,000 (excluding actual costs paid by the attorney) and 90% of damages over $250,000 (excluding fees).
There are exceptions to these amounts and additional fees allowed if your case is appealed.
Common Types of Legal Fees
Contingency fees are not the only legal fee that an attorney may charge. Some other types you might encounter include:
- Fixed Fees or Flat Rates – A lawyer may charge a flat fee for a single service that is typically less complicated and less time-intensive.
- Hourly Fees – Many lawyers charge an hourly rate for services which may include separate hourly rates for paralegals, junior attorneys, and senior attorneys. You can generally ask how much time your case will take during your consultation.
How Are Costs Tracked?
All attorneys track their expenses and time spent on cases. You will probably have to repay all of the expenses paid by the law firm, although that will likely come from a portion of the compensation won in your case. Costs may be tracked in case management software that can quickly produce a report. You should ask your attorney for an account of your case expenses frequently.
Some typical costs associated with cases include:
- Court filing fees
- Postage and mailing
- Expert witness costs
- Copying and documenting expenses
- Court reporter and dictation costs
- Transcript costs
How Our Clients Benefit from a Contingent Fee Agreement
David I. Fuchs, Injury & Accident Lawyer, P.A. offers a free consultation, and you only pay if you win. Our contingent fee agreement allows you to file a lawsuit against an at-fault party or insurance company without paying anything up front. In fact, you don’t pay anything unless you win.
Start with a Free Consultation
If you have questions about your case, you should contact attorney David Fuchs. He will listen to your story and provide you with a free case evaluation. During the review, he will determine the strength of your case and help you decide if a personal injury lawsuit is right for you.
Use our online contact form today to reach out and schedule your consultation.