Working with a personal injury attorney gives you a chance to fight for the compensation you deserve without having to cover the costs of pursuing your case upfront out of your own pocket. At H&P Law, we work for our clients on contingency agreements. For this reason, we are selective about the cases we take on and ensure our client’s expectations are managed throughout the claims process.
The benefits of contingency agreements are undeniable. Since the amount you could recover for your damages and the amount of time, energy, and resources put into your case can vary so widely, there is no way to know exactly how much you might be expected to pay in attorney’s fees.
However, we are always transparent about how contingency fees work, so you should feel confident that you made the right decision for your case when choosing to work with a Las Vegas personal injury attorney at H&P Law.
What Is a Contingency Agreement?
Many injury victims and accident survivors do not believe they will be able to afford the costs of hiring an attorney, so they miss out on compensation they might have recovered if their claims had been successful. However, contingency agreements give you an opportunity to hire a legal advocate without paying any upfront fees. Instead of charging a flat fee or hourly fee, most personal injury attorneys work for their clients on contingency.
Payment for our services is contingent upon winning your case. We only take on cases if we have the resources and energy to devote to our clients. We do not ask clients to pay a retainer for our services because we understand the potential extent of your financial struggles and do not want you to have to worry about jeopardizing your personal finances.
Contingency agreements are fairly straightforward. If we win your case, a previously agreed-upon percentage of your winnings will cover your attorney’s fees. For example, if we quote you a contingency fee of 30% and successfully recover $2 million in damages, your attorney’s fees would amount to $600,000.
What Your Contingency Fee May Cover
There are many misconceptions about what contingency fees cover. Your personal injury attorney will be responsible for covering most of the costs that arise as we pursue your case. Your contingency fee may cover:
- Copies of your medical records
- Communications and meetings with your law firm and our team
- Time spent negotiating with the insurance adjuster
- The time spent preparing your insurance claims and legal documents
- Court filing fees
- Court reporter fees
- Conducting depositions and requesting discovery
- Renegotiating insurance claim denial and settlements
- Preparing to file your personal injury lawsuit
- Filing pre-trial motions
- Fees associated with hiring expert witnesses
- Advocating for your right to maximum compensation before a jury
You will be able to communicate with your attorney regularly when you have questions or concerns about your claim. We will also provide you with regular case status updates so you may not always need to appear in court. Your contingency fee essentially covers all of your legal team’s effort in pursuing your case.
Advantages of Contingency Fees
The thought of paying out a chunk of your settlement to your lawyer may give you pause. However, your attorney is covering all the costs associated with pursuing your case. The advantages of contingency fees are undeniable and include the following:
You do Not Need to Put Your Personal Finances at Risk
Instead of having to get together thousands of dollars in retainer fees, you can save what money you have to cover your necessary living expenses. Your lawyer will pay for most of the expenses that arise after taking on your case. These expenses will generally be included as part of your attorney’s fees.
You Retain Most of Your Settlement or Payout
Even though a percentage of your compensation will cover your attorney’s fees, you will always have the right to most of whatever your award is. Most contingency fees do not exceed 40%, which means your percentage of the award would be at least 60% of your settlement. This compensation could make all the difference in your ability to rebuild your life after the accident.
You Only Pay Attorney Fees If We Win
Your own money is never on the line when you work on contingency. Your attorney covers the expenses and will be out of the costs if we lose. If we are not successful, you will not have to pay anything in legal fees.
How Contingency Agreements Are Determined
Before you enter a contingency fee agreement with a prospective law firm, it is important to understand how your contingency agreement and fee structure will work. The Nevada Rules of Professional Conduct mandate that personal injury attorneys use written contingency agreements when working with clients. Your lawyer should go over the details of the contingency fee agreement with you so you fully understand your attorney’s fees will work.
You do not want to have to deal with any misunderstandings about covered costs and attorney fees. Although uncommon, contingency fee disputes can ultimately delay the payout of your claim. For this reason, you should ask questions, review every word of your written contingency agreement, and only sign on the dotted line once you are informed about what the agreement entails.
For most accident victims, contingency fees can have a wide range, typically anywhere between 20% and 40% of your payout. The exact amount can vary considerably depending on the availability of evidence and how complex your case is. Typically, the more time and resources we expect to spend on your case, the higher the contingency fee will be.
Contact a Highly Experienced Las Vegas Personal Injury Attorney for Help Today
Oftentimes, without contingency agreements, injury victims would not have the means to demand justice and hold liable parties accountable. We make it possible for our clients to advocate for their right to maximum compensation and prove the defendant’s liability without putting their own money on the line. This could be your best opportunity to start rebuilding your life.
When you are ready to move forward, connect with Las Vegas’s leading car accident law firm. Schedule a 100% free consultation with H&P Law as soon as today. Call our office or fill out our convenient contact form to get started.