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Contingency Fee--NJ Attorney Answers--What is a Contingency Fee?

What is a contingency Fee agreement?  When it comes to legal fees, there are mainly two types of fee agreements entered into between clients and attorneys.  The first is the contingency fee agreement, which is most common in personal injury lawsuits.  When you hire an attorney on a contingency fee basis, it means that the attorney will only get paid if he or she is successful in obtaining a monetary settlement, binding arbitration award or monetary trial verdict.  A contingency agreement is different from an hourly rate agreement in that in the hourly rate arrangement, the client pays the attorney on an hourly basis based on the attorney’s hourly rate for all work the attorney and his or her staff performs on the case.  This can get very expensive especially in personal injury cases.  Contingency fee agreements allow those with even the most modest means to hire personal injury attorneys.

Joseph M. Ghabour
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