What is a Contingency Fee?

    GOLDEN, CO, March 06, 2009 /24-7PressRelease/ -- In certain types of legal claims, you will not have to pay a fee for your lawyer's services unless you win the case. This fee arrangement, called a contingency fee, is most common in cases where you are seeking monetary compensation for injuries, such as personal injury and medical malpractice claims.

When your lawyer works for a contingency fee, he will take a percentage of the money you recover when you win your lawsuit. This percentage generally ranges from 20-50% of the total monetary award. If you do not win your case, your lawyer will not receive any money for his services.

Advantages of Contingency Fees

Hiring a lawyer on a contingency fee basis offers the following advantages:

• You will not have to pay a large monthly bill from your lawyer while he is working on your case.
• You will not have to pay if your lawyer is unsuccessful in your case.
• If you cannot afford an attorney, you can still have access to our legal system in order to recover fair compensation for your injuries.

How Do Contingency Fees Work?

You will need to agree on the terms of your contingency fee agreement with your lawyer in writing before he handles your case. In certain situations, contingency fees work on a straight percentage. For example, your attorney may take 30% of your settlement regardless of how much money you win or how long the case took.

However, other contingency fee agreements take into account factors such as the size of your monetary award and whether your case goes to trial. For example, you may pay a larger percentage of the first $500,000 of your settlement to your attorney and a smaller percentage for any money over $500,000 that you win. Or, you may pay a smaller percentage to your attorney if he is able to settle out of court than if he must take your case to trial.

Court Costs and Additional Fees

For any legal claim, there will be additional fees incurred in the process. These include:

• Court fees
• Costs of obtaining medical records
• Expert witness fees

It is important to discuss who will pay these fees when negotiating your contingency fee agreement. Some fee agreements will require you to pay these costs, regardless of the outcome of the case. It is important to know up-front what your expenses will be.

If you have a medical malpractice claim in the New Jersey or Philadelphia metropolitan area, please contact the Law Offices of Weiss & Paarz P.C. today to schedule a consultation.

Source: Law Offices of Weiss & Paarz P.C.
Website: http://www.njmedlaw.com

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