Contingency Fees
Once you Make The Call, we’ll help you expertly navigate the world of Personal Injury Law to help get you what you deserve.
As Newfoundland & Labrador’s largest Personal Injury Law firm, we know that Personal Injury can make an impact on your finances. That’s why we offer a free first consultation and work on contingency – meaning that in most cases we won’t get paid until you get paid.
It costs nothing to talk – Make The Call today.
What are contingency fees?
Contingency fees are one way to structure the cost of legal representation, particularly in Personal Injury Law. This model ensures that the financial impact of paying for representation is zero until the case is won or settled. Instead of paying hourly or requiring a retainer fee, you’ll work collaboratively with our expert lawyers to put the best case forward. In order for us to get paid, you have to get paid.
What is the standard rate for contingency fees?
Contingency fee rates can vary from case to case, but hover around 25-30% of the amount recovered from settlement or trial ruling (not including other fees such as disbursements, deductibles, or third-party compensation, all explained separately).
But they can run higher or lower – there are a number of factors at play:
1. Is the case expected to be complex and time-consuming?
As the largest and most experienced Personal Injury Law firm in Newfoundland & Labrador, we can usually gauge the amount of effort required at the early stages of the process, but this can always change as proceedings continue and more things come to light.
2. What area of the law does this fall under? What damages may be rewarded?
We’ve been in the business for a long time – not only do we have an understanding of what the end financial compensation may look like, but also know that there are regulations and limitations with certain types of claims and awarded damages. Being able to expertly recognize and navigate these is part of every step of our process.
3. What is the likelihood of success?
Our goal is to get every client the compensation they deserve. However, every case is different and sometimes we enter into a case knowing that there is a higher-than-average chance that the outcome may not be optimal. During the initial stages of the consultation and as we do more research, we will make this exceedingly clear to you.
Other Costs
While we don’t get paid unless you get paid, there are a number of other financial considerations for any Personal Injury Law case. For transparency, here are some of the main categories they fall into.
Disbursements
Even with a contingency fee arrangement, other fees may arise. These are referred to as disbursements.
Disbursements are fees that encompass other aspects of the process – usually administrative and professional fees outside of our own share of the compensation. These include things like court filings, gaining access to medical records, and compensating expert witnesses and other professionals.
These fees are required as part of the legal proceedings but are not part of the compensation a lawyer will receive as part of their contingency payment.
However, there are arrangements that may be made on a case-by-case basis that will cover some or all of these costs and deduct them from your financial compensation at the end of the process. This arrangement is not standard nor guaranteed to be offered in your case.
All Disbursements are claimed against the at-fault party.
Deductibles and Minor Injury Caps
In Newfoundland & Labrador, there are no caps on the total compensation amount you can receive for a minor injury. There is a maximum amount that can be rewarded for Pain and Suffering (~$435,000), but that is only one category of damages that your claim may fall under.
Then there are deductibles. There is a requirement that the first $5000 of your compensation agreement counts as a deductible taken from the general damages portion of your final compensation. For instance, If you are awarded a total compensation of $25,000, you would receive $20,000. Fees would be taken from the net compensation amount.
Third-Party Compensation
The final amount of compensation you receive may also be affected by other parties who have been a part of the process that you may not realize are entitled to payment. Although this doesn’t happen in every case, it is a common part of the compensation structure of Newfoundland & Labrador that MCP may be entitled to a portion of the costs of any care they provide in Slip & Fall and other personal injury claims but NOT in Motor Vehicle Accident claims. Our expert lawyers will be able to help you determine any extra parties early in the discussion.