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A contingency fee is a type of payment that a personal injury lawyer receives if you obtain some compensation for the harm you endured. Instead of charging an hourly rate for their services, the attorney receives a percentage of any monetary recovery they help you recover.
Legal fees are most commonly used to describe the fees paid to the attorney for his/her time and effort. Fee structures for attorney vary significantly based on the region and type of case.
Contingency fees mean you will pay the lawyer a certain percentage of the money you receive if you win the case or settle the matter out of court. If you lose your case, the lawyer does not receive any payment from you.
The difference between ?success fees? and ?contingency fees? But whereas success fees may charge certain (albeit reduced) fees at the outset of the case, contingency fee structures typically do not assess any fees until the matter has been resolved in the client's favor.
Contingency Fee. The term ?contingency fee? refers to a type of fee arrangement in a case in which an attorney or firm agrees that the payment of legal fees will be contingent upon the successful outcome of the case.