Contingency Fee
This type of chare is commonly used in accident cases involving personal injury, when you are suing somebody for money. The fee is contingent upon the lawyer obtaining a monetary award or settlement for you. The lawyer is entitled to a certain percentage of the money if you win or settle out of court. If you loose, the lawyer does not generally receive a fee. Be aware when you agree to a contingency fee arrangement that you are usually responsible for paying any court costs and other litigation expenses, like the cost of expert witnesses, whether you win or settle out of court. These costs and litigation expenses may be deducted from the monetary award you receive. Make sure you know in advance the lawyer's percentage of the award or settlement and whether the lawyer's fee will be paid before or after court and other costs are deducted. A lawyer is required to give you a written copy of a contingency fee agreement. Contingency fees are not permitted when representing a defendant in a criminal case or in a client in a domestic relations matter involving divorce, alimony or support (or a property settlement in place of alimony or support). |