Contingent Fee Agreements in Colorado Personal Injury Cases
Because injury accidents often produce a range of unanticipated expenses and immediate financial losses, victims routinely wonder how they can possibly afford an attorney to represent them in their fight for compensation. Fortunately, many personal injury attorneys regularly accept cases on what is known as a contingency basis, easing the way for injured parties to pursue justice. Contingent fee arrangements provide that clients pay little or no money up front to the lawyer handling their case and also that no legal fees will be due unless and until a successful outcome is achieved, whether via settlement or verdict. If you have suffered injuries due to the negligent acts or omissions of another, attorney Jeremy Rosenthal is ready to investigate the facts of your matter, explain your legal rights and provide insights on how contingent fee representation works.
How a Colorado Contingency Fee Agreement Functions
Once an attorney and a client reach a contingency fee agreement, lawsuit expenses such as filing fees, deposition costs, medical records copying fees, expert witness fees and the like will be paid by the lawyer as they are incurred. The injured party being represented will not be required to pay any significant up front amounts in order for the case to proceed. Depending on the complexity of the accident event and harm sustained, these expenses can escalate rapidly, well into the tens of thousands of dollars. Thus, the attorney is assuming a great deal of risk in undertaking the representation, doing so with the intention of recouping those costs as well as payment for his or her time and expertise at the successful conclusion of the case.
At the outset of the representation, the contingency fee agreement will clearly state the proportion of the total recovery to be paid to the attorney as compensation for his or her work throughout the course of the case. An agreement may provide that an attorney receives a larger share of the overall recovery if trial is necessary than if a settlement was reached early in the process. Generally speaking, the costs and expenses previously fronted by the attorney will be taken out of the client’s portion of the settlement or award. In most circumstances, the attorney will be the one to receive a check for the total recovered amount and will then disburse the client’s portion accordingly. If any amounts are disputed, they should be placed in a trust account so that resolution can be achieved, and undisputed amounts should promptly be remitted to the client.
Benefits of Contingency Agreements
As stated earlier, contingency fee arrangements can be extremely beneficial for injury victims who lack the financial resources to seek accountability and financial recovery following an accident event. They provide access to legal representation that would otherwise be wholly out of reach for far too many. In addition, they create a powerful incentive for the attorney to do everything possible to secure a positive outcome, since his or her compensation entirely depends on it.
Access to Justice for Colorado’s Injured
Attorney Jeremy Rosenthal does not believe that an injured party’s finances should ever stand in the way of their ability to pursue the compensation they need and deserve. Accepting cases on a contingency basis fulfills what he sees as a duty to render assistance to fellow Coloradans at their most vulnerable moments, while simultaneously providing unrivaled advocacy on their behalf. If you would like to explore the possibility of contingent fee representation in your injury matter, contact us at 303.825.2223.