What are Contingent Fees?
1/17/2012 by LegalView under Personal InjuryIf you are involved in a legal dispute, you may have heard your attorney speak about contingent fees. A contingent fee is simply a fee due to a lawyer only if a successful outcome of the legal action is reached, usually by winning or settling the case in the client’s favor.
Usually, the fee is a percentage of the money won, or the recovery, but may be partly a fee for time worked or partly a percentage. While fees are negotiable, contingent fees in personal injury cases are one-third of the recovery, unless particular difficulties exist within the case, making the attorney believe that he or she should ask for more.
Tags: Legal Definitions, personal injury
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