How do contingency fee agreements work?
Contingency fee arrangements allow a lawyer to work on your case without requiring that you pay a retainer or an hourly fee. This arrangement provides many clients access to the legal system that otherwise could not afford it. Contingency fees also serve as an incentive for the lawyer to settle the client’s case for the maximum amount. If you do not win your case, no legal fees will be charged to you!
The standard contingency fee arrangement for attorneys in Missouri and Illinois is 33% of any gross settlement. This figure increases to 40% should the case go to trial. For worker’s compensation, the contingency fee agreement is 25% in Missouri and 20% in Illinois.
Most law firms charge the client for the costs of preparing their file for litigation. The bulk of these charges on typical cases come from paying medical providers for copies of your medical records and bills. Providers are permitted by Missouri statute to charge a fee for printing and mailing copies. Generally, the more extensive the records, the more extensive the copying costs will be.
Unlike most attorneys, The Gerring Law Firm usually assumes these expenses. This amounts to hundreds of dollars per case that is waived to make sure that our clients are put in the best financial position possible after all medical bills are accounted for. In the event your case goes to trial, we will discuss waiving those costs on a case by case basis with the client.