Bronx, NY – What Is Contingency Payment? An Explanation of Attorney’s Fees

What will a personal injury lawyer in the Bronx really cost me if I am injured?

Fighting for people injured in the Bronx is the mission of Feiner & Lavy.

This is a common question, and for a good reason. People see advertisements for personal injury law firms like Feiner & Lavy that promise you can pursue a case at no cost to you. Many people think this is a scam, but it isn’t.

Lawyers basically charge three ways for their work: 1) an hourly rate, which can run into very big money; 2) a flat rate for a particular service, like a property closing; 3) a contingency fee. The field of personal injury law has evolved as a field, with rare exceptions, where the law firm works on a contingency basis. This really does mean that there is no cost for you – the law firm collects its compensation based on the final settlement of a case.

A contingency fee is a percentage of the settlement that has been agreed to. This percentage is generally about one-third or 33% of the final settlement, after expenses, but that can vary a bit with the type of case. So, a personal injury lawyer who takes your case on a contingency basis believes that his firm will be compensated at rate that would at least be about the hourly rate they would charge throughout the entire duration of your case. He is also betting that you will get a positive outcome. The really nice thing here is that the meter isn’t running every time your lawyer has a conversation with you, which is the standard practice when a lawyer charges on an hourly basis. And if the case is not won, you don’t pay a thing, and the law firm has to absorb the cost.

The other part of this equation is the expenses component. At Feiner & Lavy, we encourage our clients to ask about these expenses up front. We can’t necessarily give an estimate, but we can explain the expenses at the start of the process, and that does put many of our clients at ease. What are the expenses? The law firm has to file papers with the court, and these filing fees add up. Sometimes the law firm has to go to court to get a subpoena, which may require someone to turn over video footage or compel someone to testify. In other cases, an investigator needs to be hired, and that person is an independent contractor who needs to be paid. And there are expenses for mailing and photocopying, which, although they’re not tremendous costs, can surprise some clients.

The great thing about the contingency fee is that you will pursue the case at no risk to you. This is a wonderful option that is afforded to us by the American legal system, and it allows everyone to seek the same compensation if they are injured and another is at fault.

If you or a loved one has been injured in an accident in the Bronx and want a lawyer who will fight for your injury, contact Feiner & Lavy today. With more than 80 years of combined experience, we have a broad range of resources available to help you win the settlement you deserve. We are a local Bronx personal injury law firm that knows our courts, our borough and our clients. We pride ourselves on our level of determination and will not stop until our clients’ cases are resolved with the highest possible payout. If you believe you have been injured at the hands of another, call us today at 212-393-9130 for a free consultation.