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THE CONTINGENT FEE –LEVELING THE PLAYING FIELD

August 25, 2012

 

 

Our tort system in the United States allows persons injured by the   negligence  of  others to seek redress for the economic and emotional harm done to them .

The concept of insurance spreads the risk among all holders of insurance in order to   provide   compensation for those injured. Most folks would find it difficult to afford an experienced   attorney at an hourly rate of $300-$400 per hour to   provide counsel , evaluate  the claim ,conduct an investigation ,sort through  the maze of   insurance regulations and finally negotiate or file suit on a claim .  

It   is often difficult to know the extent of the injury right after the incident Paying an hourly fee could result in the injured party paying more to his attorney than he could collect in   damages .

          The solution to getting legal representation without having to advance fees is the Contingent Fee. Under this arrangement fees are only paid when a case is resolved .At that time the attorney receives a percentage of the settlement ,  under an agreement entered  into at the outset of the representation .

          In this way the injured party can deal with  an insurance   company on equal footing   and does not  risk paying legal fees without getting anything in return.

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