People hurt due to the negligence or misconduct of others are often in a difficult position. They have a sudden influx of major expenses at the same time that they might experience a total loss of income because they cannot continue working.
People involved in car crashes, for example, might have tens of thousands of dollars in immediate expenses to address and numerous lingering costs to cover. They usually are not in the position to take on significant additional expenses at that point. Some people settle their insurance claims prematurely or fail to take appropriate legal action because they assume that they cannot afford legal representation.
Lawyers sometimes require retainers. These large lump-sum payments help ensure that clients can cover their legal fees. Thankfully, those in need of personal injury representation can sometimes avoid the financial stress associated with paying a large retainer.
Some lawyers work on a contingency basis
Retainers help streamline the legal billing process. Instead of requiring payment after providing advice and legal advocacy, lawyers bill against the retainer the client previously provided. They can then request additional capital when their billing has exhausted the retainer funds.
Large initial payments are not necessary when hiring an attorney on a contingency basis. Lawyers working on a contingency basis keep records of the hours worked on a client’s case. They agree to take cases based on their likelihood of winning.
They only receive pay when their client receives compensation from the party at fault for their injuries. Contingency fees make personal injury representation accessible to those experiencing financial hardship. Instead of needing to scrape together thousands of dollars while simultaneously dealing with major personal expenses and a sudden loss of income, they can access immediate support.
Clients who can hire a lawyer on a contingency basis can usually feel confident that they have a strong legal case, as the attorney agrees to defer payment based on their chances of winning. Those hoping to secure compensation for lost wages, property damage expenses and medical expenses may benefit from consulting with a lawyer about their options.
Understanding billing regulations can make people feel more confident about deciding to hire a personal injury attorney. The right support can help people recover their financial losses after they get hurt due to the actions or negligence of others.