Everything You Need To Know About Contingent Fee Lawyers

There comes a time in everybody’s life when you need the services of a lawyer. You need one to sign agreements, especially if you are in business.

You will need a lawyer if you are going through a divorce, need to write your will, or you have had an accident and someone is legally liable.

In short, you will at some point need the services of a lawyer or even a team of lawyers. Your legal requirements will determine the kind of lawyer you will need. However, what may give you sleepless nights is how to afford the legal costs.

Lawyers’ fees can be quite prohibitive. Fortunately, many Perth based lawyers offer contingent fee services and can take up your case. Contingent fee lawyers are also known as ‘no win, no fee’ lawyers.

Contingent Fee

Know About Contingent Fee Lawyers

This is a fee arrangement that ensures that you do not spend a penny out of your pocket. Your lawyer gets a percentage of the settlement you will be awarded if you win the case. This is a great incentive to ensure that you not only win your case, but that you also get the highest settlement possible.

 

Which Lawyers Use No win No Fee Arrangements?

  • Contingency fee arrangements are mostly best for civil litigations. Any lawyer can accept a contingency fee arrangement, but it will mostly depend on his or her specialty.
  • Criminal trials do not have no win, no fee arrangements.
  • Personal injury cases attract a contingency fee arrangement because more likely than not, a monetary award will be awarded by the court. The lawyer will then be able to get their fees. Most of these cases are usually against large corporations or regarding medical malpractices, which attract large sums of money.
  • Harassment complaints from debtors to creditors can also attract contingency fee arrangements.

Lawyers agree to or offer contingency fee arrangements to clients who have legal issues that have a high chance of succeeding. They base their success rate on their risk assessment and how much effort will be needed to win the case.

The lawyer has to spend money or contact a financier who will finance the whole legal process. The case, therefore, must be a worthwhile investment because that money has to be earned back with interest.

 

Contingency Fee Arrangements

Contingency Fee Arrangements

The no win, no fee arrangement may come across as a great deal, especially for the client, but it is not without its fair share of issues.

  • If the case does not sound like it guarantees a win, not many lawyers will touch it.
  • You might not get as much settlement as you might have expected.
  • A lawyer who takes on a contingency fee arrangement in a field that does not allow it can be disbarred.
  • Monetary settlements can be problematic when filing taxes because your tax body assumes that you ended up with every last cent from the settlement, which makes filing tax returns a bit of a problem.

Once you choose your attorney from amongst the many Perth based lawyers or from your hometown, make sure to consult with them extensively on any issues that may not be clear to you so that you do not find yourself holding the short end of the stick.

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