Many people are intimidated by taking legal action against someone because they are concerned about the cost involved. The truth is most people do not have the funding immediately available when they first start their legal case. It’s true that many lawyers work on an hourly basis, but there are also many law firms that will work with a contingent fee agreement. This is an important type of payment arrangement that makes it possible for people who do not have a lot of funding available, to still get the legal representation they need. Keep reading to learn more.
What Is A Contingent Fee Agreement?
The American Bar Association defines a contingent fee arrangement as an arrangement in which a lawyer agrees to be paid a percentage of the amount you are awarded when you win your case. This is a good alternative for clients who are unable to pay by the hour due to a lack of funds. This method really benefits you as the client because you are not required to pay upfront out-of-pocket fees and it highly motivates the lawyers to do their very best to win your case.
Other Fees Involved
Many people really don’t realize the extent of expenses that can be involved in a legal case. Beyond simply paying for the lawyer, there are also other expenses that can be involved as well. For instance, other litigation costs could include hiring experts, court reporters, private investigators, and others whose services and expertise could help you win your case. Some lawyers will pay for these expenses on your behalf so that you are not put at any type of financial risk.