What is a Contingency Fee
Hi, this is Lucas Foust from Foust Law Office, and I'm here to answer another quick question. This quick question I'm here to answer covers almost every single attorney-client relationship that I enter into at Foust Law Office. People ask me, "What is a contingency fee?" Simply put, a contingency fee requires an attorney to get money for you before he or she is ever paid. Now a contingency fee agreement allows most people access to attorneys. The biggest concern I get when people come to my office is, "How on earth am I possibly going to be able to pay your fee?" Well, this method allows regular people, 99% of us, to be able to afford an attorney. So in other words, an attorney works for free until there's a settlement or some sort of positive result for you, and then takes a percentage of those fees. In addition, in my office, we typically front those costs that are incurred during a case prior to the settlement as well.
Now, one other thing I want to talk about is our contract. Our contract is a one-page document. I simply believe that a simple contract, a one-page document that outlines our agreement, is completely appropriate. I highly recommend that you ask the attorney to take a look at his or her contract and spend some time with it before you enter into an agreement with that attorney. At Foust Law Office we believe that an informed client is a better client.