How Contingency Fees Work: An Ohio Personal Injury PrimerJuly 11, 2015
Personal injury lawsuits can be quite expensive. The costs of investigating an accident and injury, obtaining medical records, filing a lawsuit, paying for depositions and expert witnesses, and other case expenses frequently add up to thousands of dollars that injured plaintiffs do not have available to them. A contingent fee agreement is a contractual tool that allows personal injury plaintiffs to obtain legal representation without having to pay for these burdensome expenses.
Contingent fee agreements are the norm in Ohio personal injury practice. Under a contingent fee agreement, a personal injury lawyer will typically agree to take on all or most of the costs associated with maintaining the personal injury lawsuit. The lawyer will also usually forgo any upfront payment or hourly billing fees, and will instead agree to accept as payment a percentage of any settlement or judgment obtained on behalf of the client.
What Happens If I Lose My Personal Injury Case?
The major benefit of contingency fee arrangements is that if an injury victim loses his personal injury case, he does not have to repay the attorney for the costs of maintaining the lawsuit. This feature allows injured plaintiffs with limited resources to seek justice for their injuries without the fear of financial hardship caused by a lost case. But, because of this risk of lost costs and expenses, personal injury attorneys closely scrutinize cases and may refuse to represent clients when the potential settlement or judgment is outweighed by the risk of losing the case (and, thus, the case costs).
What Happens If I Win My Personal Injury Case?
In addition to paying the attorney a percentage of your settlement or judgment, contingent fee agreements typically require personal injury clients to repay the case costs out of the settlement or judgment funds.
What Types of Personal Injury Cases Are Taken On a Contingent Fee Basis?
For over three decades, Lowe Scott Fisher Co., LPA has represented clients in medical malpractice, product liability, motor vehicle accident, and countless other negligence cases under contingent fee agreements. If you or a loved one have suffered a personal injury in Cleveland, Ohio, or anywhere throughout the country, contact us today to discuss your case.Back To Blog