The Different Types of Fee Agreements and What They Each Mean

In this section, we’ll look at some of the different fee agreements that you can sign with your lawyer in a personal injury case. We’ll share the difference between contingency terms and pro bono and highlight when you qualify for each one.

The Different Types of Fee Agreements and What They Each Mean

When you need the help of a lawyer, one of the greatest concerns for most clients is the legal fees involved. There are different types of fee agreements that you can sign with your car accident, slip, and fall or disability lawyer. These different options are put in place by lawyers because of the understanding that their potential clients may not afford the hourly rate that they usually charge. Keep in mind that these flexible fee arrangements aren’t offered by all lawyers. That’s why it’s very important to have a clear understanding of how your lawyer will charge for the services rendered. Ask all the questions and concerns you may have during the initial consultation just to be clear before you sign the written agreement that stipulated the terms of your engagement.

Contingency Fees

There are cases where the lawyer is willing to wait until the case is over to take a percentage of the settlement as their fee if you win. This means that you pay no money upfront but if you are awarded a huge compensation amount, the lawyer is likely to get a considerable proportion of that fee and if you lose, the lawyer doesn’t get any fee. Also known as a no-win, no fee arrangement, contingency agreements are there to ensure that those who have been wronged but can’t afford the services of a lawyer still have access to justice. In any contingency fee agreement, there should be clear guidelines on how much the lawyers will take. In some cases, the proportion taken by the lawyer is higher when the case goes to trial as opposed to outside court. The major challenge with contingency cases is that some lawyers may refuse to take up the case if they feel it isn’t strong enough or the potential award is too small.

Pro Bono Lawyer

Pro bono, which is a Latin word that means ‘for the public good’ is a concept that was initiated to ensure that those who cannot pay for legal services can access them for free or at a discounted rate. Pro bono lawyers are usually either paid by someone else or not at all. There are personal injury victims who may be short on funds to pay an attorney. However, do not confuse pro bono and contingency fees because they are different. While the lawyer is likely to offer you free consultation initially to hear your case brief, handling the case may not be entirely free if it settles. Most pro bono lawyers take up cases for the disabled or financially disabled.

Since legal counsel is extremely important, especially when a victim has been injured or wrongfully killed, we can help those who are financially disadvantaged to get the best legal team by their side on a contingency basis.