What is a contingency fee?

Contingency fee agreements are agreements that an attorney has with his or her client regarding the payment of the attorney fees. It is not based on the usual hourly rate of the attorney. Rather, the attorney is paid if and when the client recovers on the claim. The payment is based on a certain percentage of the client's recovery. Some attorneys provide for a different percentage if the case is settled early or if the case goes to trial. Generally, even under contingency fee arrangements, the client is ultimately responsible for out of pocket expenses such as filing fees, copying costs, deposition and expert costs, et cetera. For more information on contingency fees, please consult an attorney in your area.