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March 9, 2007, Newsletter Issue #43: Lawyers Who Work on a Contingency
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Tip of the Week
There are a lot of lawyers who advertise "No Recovery, No Fee". This is called a contingent fee arrangement. These lawyers don't get paid unless they get you money, meaning unless you settle or they win your case in court and you are awarded monetary damages. If you lose, they get nothing. Many of these attorneys earn 33.3% of the award or settlement. In some cases, their percentage is higher if the case is tried or appealed. As the injured victim, this is good because you don't have to pay any fees up front. Often a lawyer will work to get a larger award so that they can get a larger amount of payment as well, as they are interdependent.
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