Remembering to weigh the advantages and disadvantages of taking each contingency case proves wise. Factors to assess from the top include:
- Being overpaid due to a quick settlement which leaves clients frustrated.
- Being underpaid due to a long settlement or client payment delay.
- Not being paid at all due to an unfavorable result or client non-pay.
Keeping these ideas in mind, several scenarios lend themselves to the work of a contingency lawyer. Marketing along these lines reaches targeted prospective clients.
Primarily, this conditional fee law works well for clients who are unable to pay attorney fees upfront. In other words, the quick tally of fees unfortunately adds up to the inability to pursue litigation for some potential clients. And, as you are aware, contingency fee-based relationships earn you clients and potential income in this regard.
The following scenarios, with careful consideration, may lead to fruitful contingency cases.
Accidents and Personal Injuries
In cases of car and boat accidents, and other personal injuries, a contingency relationship proves fairly standard. People who potentially suffer loss, experience the need for medical treatment and therapies and face lost work hours raise the need for a financially viable means of pursuing legal action.
Medical Malpractice
While several states cap the fees charged by contingency attorneys in medical malpractice suits, these cases still prove lucrative. With families likely burdened by medical bills, the need arises for no win-no fee attorney support when care goes awry.
Fair Debt Collection
The Fair Debt Collection Practices Act (FDCPA) sets protocol which guards citizens against harassment by debtors. Unfortunately, problems still arises. Contingency work is a way to ensure the guidelines are upheld on behalf of a client whose debt load indicates he or she is already facing financial issues.
Defective Products
Purchasing new products brings convenience and joy to the consumer. However, defects in the product or workmanship potentially turn this aspect of the American dream into a nightmare. Injuries caused in these cases offer space for a contingency firm to help right the wrong.
Employment Law
In some cases of employment law, contingency firms may find a need. Workers’ Compensation cases and hourly wage issues grant opportunity for clients facing financial hardship to pursue litigation and improve their situation through no win-no fee firms.
Debt Collection
Suing for large debts may also fall within the realm of a conditional fee agreement. With businesses across industries facing non-payment issues, the recovery of this debt proves worthwhile for companies and a contingency law firm.
Specifically law firm marketing to the needs of several of these audiences broadens the area where your contingency law firm draws clients.