When you sustain injuries in an accident or get hurt due to someone else’s negligence, you may be eligible to receive compensation for damages incurred. Unfortunately, legal representation can be expensive, preventing many people from pursuing their rightful compensation. However, personal injury lawyers in Kentucky offer something called a contingency fee, which allows people to receive representation without upfront costs. In this article, we will dive deeper into what a contingency fee is in a Kentucky personal injury case and how it works.
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Understanding Contingency Fee
A contingency fee is an agreement between a client and their personal injury lawyer. This agreement states that the lawyer will not receive payment unless the case is won and the client receives compensation. If the case doesn’t go through, the lawyer doesn’t get paid, and the client doesn’t have to pay any legal fees. This arrangement allows people who may not have the financial resources to hire a lawyer to pursue their claim and receive the compensation they deserve.
How Does A Contingency Fee Work In A Kentucky Personal Injury Case?
In Kentucky, contingency fees are usually about one-third (33.33%) of the total compensation awarded to the client. Once the case is won, the lawyer will deduct their fee from the amount of compensation awarded to the client. For example, if the client’s awarded compensation is $100,000, the lawyer’s contingency fee would be around $33,333.
It’s worth noting that while this fee may seem high, it’s important to remember that personal injury lawyers take a significant risk by working on a contingency fee basis. They earn nothing if they lose the case, and they spend a lot of time and resources working on the client’s case. Additionally, these lawyers are highly skilled and experienced in handling personal injury cases, which is why their services can be expensive.
What If The Case Is Lost?
In the unfortunate event that the case is lost, the client will not be required to pay the lawyer any legal fees. In most cases, the lawyer will cover the costs of the case themselves, including expenses such as filing fees, expert witness fees, and more. This is because most personal injury lawyers work on a contingency fee basis only when they believe they have a good chance of winning the case. Additionally, they have to be very careful when choosing which cases to work on because they don’t want to waste their time and resources on a case that will not be successful.
Are There Any Other Costs Associated With A Contingency Fee?
In some cases, clients may be responsible for other costs associated with the case. For example, if the case requires medical experts, the client will have to pay for their consultation fees. If the case goes to trial, the client may need to pay for their travel and accommodation expenses. However, most personal injury lawyers in Kentucky will discuss these costs with their clients upfront to avoid any surprises later.
Conclusion
In Kentucky, personal injury lawyers work on a contingency fee basis, which allows people to pursue their claim and receive compensation without upfront costs. This arrangement can be beneficial to people because it takes away the financial burden of legal fees. However, it’s essential to work with an experienced and skilled personal injury lawyer to ensure the best possible outcome. The contingency fee agreement also motivates the lawyer to win, as they won’t get paid unless they win the case.