What,Contingency,Fee,Contingen law What Is Contingency Fee
When you work with an attorney, you will have no problem reducing the risks associated with getting your case in front of a judge and jury, or other formal court, when you need to. However, every case is different. It is important to work wi Bankruptcy is a situation, wherein an individual is termed as unable to discharge all the debts. When a person or a company is not able to pay off its creditors, it has an obligation to file a bankruptcy suit. In fact, a bankruptcy suit is a
Contingency fee is afee for lawyers services that is paid only if there is a successful orfavorable result of the lawsuit. Usually contingency fees are taken as apercentage of the client's recovery sum, mostly from 20% to 45%. In Canada contingency fees are legal only in someprovinces (Alberta, British Columbia (except for family law cases involving child custody oraccess), Ontario and Quebec among others). In other provinces, anattorney may collect a percentage of recovery if the case was successful, but stillneeds to charge an hourly fee. Contingency feeagreement is usually depending upon various factors related to the case likethe nature and complexity of the matter, risks involved in the case, the costin pursuing the matter, and the likelihood of a successful court verdict. Thistype of fee us very useful for situations when the client has little income orno income at all, like in serious injury claims or wrongful dismissal claims.It is a good solution for people who are sure that they will win the case, butdont have enough money to fund the claim in court. Also cases related toaccidents and insurance usually have lawyers working on a contingency feebasis. While the contingencyfee main advantage is that you dont have to pay large monthly bills from yourlawyer during all the court procedures, there are a number of disadvantages too.The first is the fact of signing itself. The court will be informed about this agreementand it will be definitely presented as evidence of your intentions about feesduring the court procedures. During some cases the contingency fee will costyou more than a possible monthly fee, so be sure to get some additionalconsultations before you choose the type of fees. And the final disadvantage isdisbursements. These are the extra expenses required in prosecuting a lawsuit,like obtaining copies of doctors' records and hospital charts, obtaining expertwitness fees, court filing fees and transcript costs for example. The side thatwill cover the disbursements is specified in the initial agreement and veryoften though no legal fees are paid, the client remains responsible toreimburse the lawyer for the disbursements incurred by the lawyer. The agreement can beterminated from any of the sides. In most of the provinces if the clientterminates the agreement the fees will be based on hourly rates for all workdone before the termination, but the fees will be payable only upon the successfulconclusion of the case. If the lawyer terminates the agreement without anycause, he or she receives no fee. So as you see contingency fee is a usefulthing for certain types of cases, but before you hire a lawyer on a contingencyfee basis you should check the rules in your province in this regard. And rememberif a professional lawyer agrees to work on your case on a contingency feebasis, it is the first sign of success.
What,Contingency,Fee,Contingen