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What is a Contingency Fee?

What is a Contingency Fee?

It is a fact that personal injury cases of all kinds can be very expensive to litigate.  A law office needs to make countless calls to insurance adjusters, send dozens of letters to health care providers, take depositions, retain experts, and always be prepared in the unlikely event that a case goes to trial.  Some law offices make you pay for these costs as they go along.  At Stracci Law Group, if you retain us for your personal injury matter, we pay these costs up front on your behalf, and you are only responsible for them if we recover a settlement or judgment for you.  If you don’t get paid, we don’t get paid.

Here’s how it works: first, you will sign a “contingency fee agreement” with our office.  We will begin working on your case at that time.  We’ll make the calls, send the letters, and consult with you along the way to make sure you’re receiving the appropriate care and seeing the right doctors.  If we are able to negotiate a settlement with the insurance company for the liable party, we take a percentage of the total recovery, we are reimbursed for the up-front costs we paid to get the settlement, and the rest goes to you. This same structure applies if we are awarded a judgment at trial, but the attorney fees are slightly higher.

Contingency fee agreements can be very beneficial to injury clients, however, they are not all the same, and we suggest that you carefully review any agreement before signing it. At Stracci Law Group, we often say we will treat you like a friend and make you a part of our family. This is more than just talk, and it starts with offering all of our injury clients a beneficial contingency fee agreement. It is our practice to charge 33% of the recovery you receive for those cases that are settled without the need for a trial. Should a trial be necessary, we take a slightly higher percentage of 40%. Additionally, we only ask you to reimburse us for our expenses if/when you recover. This means that you will never walk away owing us money. Many lawyers make you responsible for their expenses no matter how things turn out and raise the fee they are charging you to 40% once they file a lawsuit, even if the case doesn’t require the additional work of going to trial. Not all contingency fee agreements are created equally. . . neither are law firms.

So, if you’ve been injured in an accident, call Stracci Law Group today to schedule a completely FREE, NO OBLIGATION consultation today at (219) 525-1000, and let us get to work for you.