No Recovery No Fee: What Does This Mean?
As you might have noticed, websites belonging to personal injury attorneys contain the phrase “No Recovery No Fee” or other phrases that mean the same thing, such as “No Fees if No Recovery” and “No Fees Unless We Win.” Our website, for example, contains the phrase, “No Recovery No Fee.” So, what do these phrases mean? They mean you do not have to worry about paying attorney fees upfront when you hire a personal injury attorney. They mean that a personal injury attorney will recover their fees from the settlement amount or verdict amount. And if there is no recovery, you won’t have to worry about paying attorney fees. This type of arrangement is what is referred to as a “contingent fee” arrangement. Most, if not all, personal injury attorneys work on a contingent fee arrangement.
What Is a Contingent Fee Arrangement?
After sustaining an injury because of another party’s negligence, you may be eligible to recover compensation. To recover fair compensation, it is best that you hire a personal injury attorney. However, you might consider not hiring an attorney because of the losses and expenses that come after an accident. As personal injury attorneys, we understand that the idea of paying an attorney’s fees plays a huge role in an accident victim’s decision to seek legal help. That is why most, if not all of us, work on a contingency fee basis.
A contingent fee arrangement is an agreement where a personal injury attorney agrees to get paid by a client only if they win the client’s case. The attorney and the client agree that if the attorney wins the case, they will take a percentage of the recovery as their fee. Generally, the more money you recover, the more the attorney gets.
How Much Is a Personal Injury Attorney’s Contingency Fee?
Usually, the contingency fee is a percentage and not a fixed amount. Most personal injury attorneys charge a 33 and 1/3% contingency fee to handle claims pre-suit (before litigation) and 40% if litigation is required.
If an Attorney Is Working on a Contingency Fee Basis, Who Decides When To Settle the Case?
As the client, you have the right to decide when your case is settled regardless of whether your attorney is working on a contingency fee basis or not. Just because you are not paying attorney fees upfront does not mean you don’t have control over your case.
Are You Responsible for Making Other Payments?
Depending on the personal injury attorney, they may or may not cover upfront costs and expenses. Costs and expenses are different from attorney fees. Courts and expenses in a personal injury case include filing fees, expert witness costs, computer research fees, travel expenses, and deposition costs. The personal injury attorney you hire can explain whether you need to cover upfront costs and expenses.
Contact a Key West & Marathon Personal Injury Lawyer
If you’ve sustained an injury in Florida in an auto accident, moped or scooter accident, bicycle accident, pedestrian accident, motorcycle accident, or Uber/Lyft accident because of another party’s negligence, do not hesitate to contact a Key West & Marathon car accident lawyer at Florida Keys Injury at 786-605-8500. At Florida Keys Injury, No Recovery No Fee.