In a contingent fee agreement, the Personal Injury Attorney near Newberry SC agrees to accept a fixed percentage (often between one-third and 40 percent) of the recovery, which is the amount ultimately paid to the client. If you win the case, the Personal Injury Attorney near Newberry SC's fees are deducted from the money awarded to you. Most jurisdictions require that contingent fees be reasonable, resulting in a typical contingent fee of 33 to 45% of any potential recovery. Model Rules of Professional Conduct 1.5 (c) require that the unforeseen fee agreement be signed in writing and signed by the customer. In addition, that writing must indicate the method by which the rate is determined and must clearly notify the customer of any expenses for which the customer is responsible.
Because lawsuits include costs other than attorneys' fees, the plaintiff may need to invest money upfront in their case, even when their lawyer agrees to work on a contingency basis. The percentage that lawyers charge varies depending on factors such as the complexity of the case, the jurisdiction and the stage of the litigation. Typical contingency fees range from 25% to 40% of the final settlement or court award. In a contingency fee contract, you and your lawyer agree that the lawyer will not be paid any fees unless you win your case.
However, you may be charged costs such as court filing fees or expenses paid to witnesses. If you win, these expenses can be deducted from your share of the recovery. You'll have to pay these costs, even if you lose your case, unless your contract specifically states that you shouldn't pay the costs if you lose. This is particularly true when the lawyer will do it on a contingent basis because you will not be paid until there is a recovery.
When an attorney works on a contingent basis on a personal injury case, you don't pay the lawyer up front or by the hour for their services. The payment depends on whether you recover from your injuries. In addition, the amount the lawyer receives depends on the outcome he obtains and, often, on the phase of the litigation in which the dispute is resolved.