Many people who are injured in accidents are hesitant to contact a lawyer because they believe they cannot afford one. Standard corporate law firms charge hundreds of dollars per hour, creating a massive barrier to justice. In personal injury cases, however, we use a structure known as a contingency fee. Here is how it works.
What is a Contingency Fee?
A contingency fee means that our attorney’s fee is directly contingent upon our success. If we do not recover money for you via a settlement or courtroom verdict, you owe us absolutely nothing in attorney’s fees. Our fee is calculated as a fixed percentage of the total recovery, typically one-third (33.3%).
Who Pays for Litigation Costs?
Litigating a personal injury case involves substantial upfront expenses, including paying for medical records, hiring accident reconstruction experts, paying court filing fees, and taking depositions. Under our agreement, Oakwood Law Group covers 100% of these expenses during the case. If we win, these costs are reimbursed from the settlement. If we lose, our firm absorbs these costs—meaning you pay nothing out-of-pocket.
The Benefits of Contingency Fees
- Equal Access to Justice: Allows individuals to stand on equal footing against massive insurance corporations with deep pockets.
- Risk-Free Representation: Eliminates the financial risk of hiring a lawyer. If we don’t win, we don’t get paid.
- Aligned Objectives: Ensures your lawyer is motivated to recover the maximum compensation possible for your injuries.