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What is a Contingency Fee Arrangement?

According to the most recent data from the New York Department of Motor Vehicles, there are over 68,000 car accidents in New York City every single year. This results in over 65,000 injured travelers and hundreds of fatalities. The data is a stark reminder that the risk of being hurt in an auto accident at some point in life is surprisingly high for most New York City residents.
Fortunately, the civil law usually allows all those who are harmed in car accidents to recover for their losses. The specifics of recovery can be quite complex, and that is why every victim of negligent driving deserves to be represented by a lawyer. 

Paying for a NYC Accident Attorney

If you have been injured, then you should be able to sue to recover losses or take a strong position with insurance companies to ensure your rights are protected. Sometimes injured residents do not contact a lawyer because they are afraid that they cannot afford the costs. This fear stops people from receiving full financial recovery.

Remember: You can often secure representation for your injury case no matter what your personal financial situation.

The United States legal system recognizes that it is important to society for everyone to have his or her day in court, even if they cannot afford to pay for representation out of pocket. When a criminal defendant cannot afford a lawyer, the court appoints one for him. While the same rule does not apply in injury cases, there is an arrangement that helps balance the scales in a similar fashion: the contingency fee.

In a contingency fee arrangement, your lawyer does not get paid unless you recover for your losses. That way you do not have to worry about coming up with money in order to receive the compensation you are owed in order to cover your medical bills, property damage, mental anguish, and other losses. Per these agreements, your attorney receives a percentage of your award or settlement. Your lawyer is taking on a financial risk in order to make sure that you get the representation you deserve.

Ensure Your Agreement is in Writing

When discussing fees with your lawyer, it is important to keep in mind that this is a professional relationship. Your lawyer's job is to look out for your interests. You should make sure that you only hire a lawyer who is transparent with you about how they are to be paid and where your money is going.

There are different variations of contingency fee arrangements, but there is not necessarily a "best" way. It all depends on the nature of the case and the specific relationship between you and your attorney. What is important is that, no matter what, you get your contingency fee agreement in writing and understand how it will work. Both parties should sign that agreement and you should keep a copy for your records. This agreement should cover things like who will pay the expenses related to litigation up-front (court costs, reporter fees, etc.), who will pay the ultimate bill for those expenses, and similar details.

New York City Accident Attorneys

If you or a loved one has been injured in a NYC car accident or have questions regarding a contingency fee arrangement, please contact Keogh Crispi for a free consultation. We work with families in Manhattan, Bronx, Queens, Brooklyn, Staten Island, Long Island, and many other nearby communities.

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