A Contingency Fee Agreement is a type of fee agreement for the payment of a personal injury lawyer’s charges. In a Contingency Fee Agreement, the injury lawyer does not get paid unless he/she collects a Settlement or Judgment at Trial for you, the injured party. In this sense, payment to the injury lawyer is contingent on your receiving compensation for your injury. A contingency fee agreement is sometimes referred to as a no win, no fee agreement.
The contingency fee is a percentage of the Settlement or award of the Court. The contingency fee percentage is set by the law firm. The percentage charged varies widely. Highly experienced law firms charge at least 30% or more. Some law firms have Flat Contingency Fees, while others have Graduated Contingency Fees. The Contingency Fee Agreement must specify the type of contingency fee, the percentage charged, and how it is paid.
Joseph A. Nagy Injury Law charges a flat contingency fee of 33% for injuries resulting from motor vehicle accidents.Return to Personal Injury Glossary