February 15, 2018
At least 99 percent of the personal injury lawyers in Philadelphia are paid on some type of a contingency fee basis. If you retain one of these professionals to represent you for the damages that you suffered in an accident, you should enter into a written retainer agreement indicating that your lawyer will be paid a percentage of any proceeds that he or she obtains on your behalf through a settlement or verdict. Should your legal representative not prevail on your claim or case, no legal fees are due.
Notice of Attorney’s Lien
The attorney or law firm secures payment by claiming a lien over any proceeds derived from settlement or suit. The insurer of the person who caused the accident is notified of that lien in writing. If proper notice of an attorney’s lien is received by an insurance company, the lawyer’s or law firm’s name must be included on any check in payment of a settlement or verdict. The client’s name will also appear on the check along with the names of any other lien claimants.
Depositing the Check
Once all of the payees on the final check have signed off on it or have given the lawyer authority to sign it on their behalf, it’s deposited into the attorney or law firm’s client trust account. When funds have transferred from the insurance company’s bank to the attorney or law firm’s bank, disbursement is made, and everybody is paid.
Contact a Philadelphia Personal Injury Lawyer
Our practice is to provide the client with a written retainer and contingency fee agreement that details the percentage of the contingency fee along with how the costs of bringing the claim or lawsuit will be paid. That agreement is for the client’s protection and peace of mind. Never enter into any type of a contingency fee arrangement without a written retainer agreement. If you are seeking a Philadelphia personal injury lawyer, contact us today.
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