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What Does

What Does "Contingency Fee Basis" Mean?

If you have suffered a serious injury as a result of another party’s negligent and reckless behavior, you may be entitled to pursue monetary compensation through a personal injury lawsuit. However, those who have a lack of financial resources can’t afford to obtain legal representation—on top of dealing with medical costs and lost wages for being away from work to recover.

Fortunately, personal injury lawyers are often hired on a “contingency fee basis.” This is considered an agreement where the client doesn’t have to pay unless the attorney wins the case. If the client is victorious, the lawyer takes a percentage of the final award, which is often a third of the total amount.

The following are the benefits of contingency fees:

  • Victims with moderate financial means can fight – Contingency fees provide access to skilled legal counsel for all people—no matter how much money they have. Despite going up against powerful corporations and insurance companies, contingency fee agreements level the playing field.
  • Losing the case means not having to pay – As we mentioned at the beginning, victims do not have to pay unless they win. The fact that an attorney took such a case on a contingency fee basis means there is a great chance of success.
  • Lawyers will try to get the maximum amount possible – The attorney’s pay is directly tied to the outcome of the case. Since getting paid depends on the results of the case, lawyers are incredibly motivated to ensure their clients obtain a maximum settlement. By contrast, attorneys paid by the hour may cause unnecessary action and possibly prolong the case in order to receive more pay.

At Tedford & Associates, our Pasadena personal injury attorney handles all of our cases on a contingency fee basis. Not only are we invested in winning your case, but we also want to ensure you make the best recovery possible from injury.

For more information about contingency fees, contact us and request a free consultation today.

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