Our Crestview Personal Injury Lawyer Can Help
If you’ve been injured in an accident in Florida, then you may have a right to sue and recover damages from the responsible parties. Pursuing a lawsuit can be more challenging than you’d expect — as such, you’ll want to work with an experienced attorney who can navigate the dispute effectively and secure the maximum available compensation.
As the plaintiff, however, you may not have significant financial resources at your disposal. In these circumstances, seeking legal representation may seem beyond your means — but have no fear. Here at Powell Law Firm, we offer legal representation on a “contingency" basis. This enables us to advocate for our clients and obtain compensation on their behalf without them having to pay out-of-pocket.
How do contingency fees work? Let’s take a closer look.
Contingency Fees — the Basics
When a firm works on contingency, they are offering to represent you without you paying them anything out-of-pocket. Instead, the firm gets paid only if you “win” by securing compensation (through either a settlement or at trial). Simply put, the firm gets paid out from the proceeds of the case.
Generally speaking, firms ask for between 33 percent and 40 percent of the total damages as their contingency fee, though this number will vary depending on how far the case has progressed (i.e., a case that has pushed all the way to trial litigation will result in a larger cut of the total damages).
If you do not secure any compensation, the firm gets paid nothing and you will have received legal representation at no cost whatsoever.
Incentive Structure — Contingency Fees vs. Hourly
Contingency fees are not just a means of lowering the cost of admission for personal injury plaintiffs — they also create an incentive structure that benefits the plaintiff.
Compare the dynamics of hourly fees to contingency fees.
With hourly fees, a firm is incentivized to delay the resolution of the case as long as possible, and will be rewarded with fees even if the case does not ultimately lead to a favorable result for the client.
By contrast, with contingency fees, a firm is incentivized to resolve the case in a reasonable period of time (the cost of litigation is shouldered by the firm entirely). Further, the firm will only be rewarded if they secure compensation for their client.
Contingency fees create a dynamic ensuring that your firm will work tirelessly on your behalf to resolve your case successfully and efficiently.
Speak with a Crestview Personal Injury Lawyer For Assistance
Powell Law Firm is a Florida-based personal injury firm founded close to seven decades ago. We regularly represent injured plaintiffs throughout the state of Florida, helping them to secure compensation in a wide range of disputes, from car accidents to slip-and-fall accidents and beyond. Over the years, we have developed a reputation as relentless litigators who are willing to do whatever it takes to help our clients succeed.
Though the large majority of cases end in settlement, we prepare for a dispute under the assumption that it will proceed to trial. This trial-ready approach gives us an advantage in negotiations with opposing counsel — as a result, we are often able to secure a favorable settlement at an early stage.
If you’d like to speak to an experienced Crestview personal injury lawyer at our firm, then call us at 850-682-2757 or send us a message online to schedule a free and confidential consultation today.