When you are seriously injured due to the negligence of another, such as due to dangerous property conditions, you can take legal action against that party to recover compensation for the damages you have endured. While searching for an attorney, you may come across the slogan, “We don’t get paid until you do,” However, you may not know precisely what this means. There are many payment models that personal injury attorneys use to collect payment for their services. One of these models is a contingency fee. This arrangement requires payment only if the case is won. Please continue reading to learn how a contingency fee agreement works in a personal injury case in New York City and how our dedicated Bronx slip and fall lawyer can help you get justice.
How Does a Contingency Fee Agreement Work?
A contingency fee is a payment that a personal injury attorney only receives if there is a successful outcome. Instead of charging a client on an hourly basis for their services, the attorney receives a fixed percentage of any monetary recovery they help their client recover. Consequently, their payment is contingent on their client recovering compensation for their injuries. The attorney will work in exchange for a percentage deducted from the total settlement or court award. This means those who don’t have the financial means can still acquire quality legal representation without the risk of paying significant legal fees out-of-pocket. If the case is lost, the client will not have to pay attorney fees. However, they still may be liable for paying administrative expenses.
What Are the Benefits of Entering Into This Arrangement?
If you’ve been injured due to someone else’s negligence, there are several benefits to hiring a personal injury attorney on a contingency basis. Firstly, there are no upfront costs. Attorney fees are only paid if the case is won, so no out-of-pocket payment is required to initiate the case. This will alleviate some of the financial burden of a personal injury. Therefore, despite your financial constraints, you can hire a top-notch attorney who can help you build a strong case. Another benefit of entering into a contingency fee agreement is that your attorney will be highly motivated to maximize the recovery amount for your damages as they have a direct financial stake in the matter. This means you can rest assured that your attorney will handle your case diligently, as nonpayment is an incentive to achieve the best possible results on your behalf.
CONTACT OUR EXPERIENCED NEW YORK CITY FIRM
Our entire legal team is dedicated to providing the advice you need and the personalized attention you deserve. If you have been injured due to another party’s negligence, call (212) 421-0300 or fill out our contact form to schedule a free consultation with a New York City personal injury lawyer. You may be entitled to financial compensation, which can help you on your road to recovery.
