What Is A Contingency Fee
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What Is A Contingency Fee?
A contingency fee is a payment arrangement where an attorney only receives compensation if they successfully resolve a case in favor of their client. Instead of charging an hourly rate, the attorney’s fee is a percentage of the final settlement or court award. This fee structure is commonly used in personal injury cases, allowing clients to pursue legal claims without upfront costs.
Key Features of a Contingency Fee:
- No upfront payment required
- Lawyer is paid only if the case is successful
- Attorney’s fee is a percentage of the final settlement or court award
- Common in personal injury and other civil cases
At Monsees & Mayer, our Kansas City personal injury attorneys work on a contingency fee basis, which means that we only get paid if we win your case. This fee structure allows clients to pursue legal action without having to worry about upfront costs or hourly fees. Our team is dedicated to helping our clients seek justice and receive the compensation they deserve, and we are committed to fighting on their behalf every step of the way. With a contingency fee arrangement, our clients can feel confident that we are invested in their case and will work tirelessly to achieve a successful outcome.
How A Contingency Fee Works
A contingency fee agreement ensures that legal fees are contingent on the outcome of the case. Here’s how it typically works:
- The client and attorney sign a written agreement outlining the fee percentage.
- The attorney covers case-related expenses (e.g., filing fees, expert witnesses).
- If the client wins or settles, the attorney receives an agreed-upon percentage of the recovery.
- If the case is unsuccessful, the client generally does not owe attorney fees.
Before the Case: Contingency Fee Agreement
Before an attorney begins working on your case, they will request that you fill out a CFA. This agreement establishes the percentage fee that will be subtracted from the settlement you receive. Once this document is signed and returned to the attorney, they will begin working on your case.
After The Case: Settlement Disbursement Sheet
When your case is finished, before your payment is released, your attorney is going to prepare a settlement disbursement sheet. This will list the total settlement that you were awarded and then outline the deductions. These deductions include attorney’s fees, medical bills, file expenses, and lien amounts that are subtracted from the funds.
You have the opportunity to review the sheet and then sign and return it to your attorney. At this point, you will receive a check for the amount left over.
What Is The Standard Contingency Fee For An Attorney?
The percentage charged by attorneys varies based on factors like case complexity, jurisdiction, and stage of litigation.
Some factors that influence the percentage include:
- The complexity of the case
- The amount of damages being sought
- Whether the case settles early or goes to trial
Before signing an agreement, clients should ensure they understand the terms, including any deductions for legal expenses.
Tell Us About Your Case
Our personal injury attorneys have over 100 years of combined experience. We are passionate about representing individuals injured by the negligence of others. Our team has successfully handled numerous catastrophic injury settlement claims and can take a range of serious injury cases, including: