What are Contingency Fees?

NO WIN, NO FEE: WHAT YOU NEED TO KNOW ABOUT CONTINGENCY FEES WHEN FILING A LAWSUIT

Like anyone with financial concerns, you may be wondering if it is even worth it to file a lawsuit. You may be worried that it is too costly to try to fight for your rights, even if you think you likely have a strong case. It seems unfair: How can you try to take a stand when it costs so much money? How will you come up with the finances to file a civil litigation? What if you lose the case and can’t pay the attorney fees? When you choose to work with Wittenstein & Wittenstein, you need not be concerned about such things, because we work on contingency.

Contingency is an agreement between the attorney and the client wherein the former agrees to be paid only if the client is awarded a sum. If the client gets a favorable verdict or a settlement, then the lawyer will take a normal fee. However, if no money is granted to the plaintiff, then the attorney does not get money, either. By working on contingency, Wittenstein & Wittenstein puts itself at financial risk in order to help you seek justice.

When you decide to accept a settlement or a verdict comes in from a jury, the expenses of the case are deducted from the total award.  For example, if the settlement or verdict is $100,000 and there are $1000 in expenses, there is $99,000 left.  You would receive $66,000 and the attorney would receive $33,000.  You should always receive a breakdown before signing a release which itemizes the expenses (filing fees, medical reports, experts, etc.).  You should know exactly what you will be receiving before you sign.

Contingency fee arrangements can vary for different types of cases such as car accidents and medical malpractice.  They are regulated by laws that govern contingency fees.  Contingency fees are a way for people that cannot afford to pay an hourly fee to an attorney to have a way to get justice if they are injured.

If you believe you have a case and are worried about the financial implications of taking legal action, contact us at 718-261-8114 or law@wittenstein.com so we can help you discuss your options and figure out the next best step.