Many clients wonder how much it costs to hire an attorney. At the Triay Law Office, we offer two options for attorney fee payment: you can pay an hourly fee, or you can opt for a contingency fee. Contingency fees allow the attorney to receive a portion of your financial recovery without charging out-of-pocket fees. When you meet with us, we can help you figure out which method is best for your situation.
We handle these cases in two different ways. The first way is on an hourly fee, where the client pays every month based on the amount of time that’s spent on their case, and that fee is payable no matter how the case turns out.
The second way is what’s known as a contingency fee or a percentage fee. Most people are familiar with that in connection with personal injury cases, and those types of fees, the attorney gets paid a percentage of what the attorney recovers for the client, and if the attorney does not recover anything for the client, the attorney does not receive any fees.
Generally speaking, the fees will be less if you pay on an hourly basis. However, these cases are very expensive to prepare and take to trial. Even if you settle the case, they’re very expensive to prepare and get to a decent settlement, and most people frankly just don’t have the money to pay the kind of fees that it takes on an hourly fee basis.
As a result, we end up handling more than half of our cases on a contingency fee basis, and that allows the client to pursue the case without having to lay out a larger sum of money and risk that money on the outcome of the case. The reason that we as a smaller firm can handle cases on contingency where the larger firms can’t is because we’re smaller, we have lower overhead, and we also have a balance. We strive to maintain about a 50/50 ratio of hourly fee cases and contingency fee cases. The hourly fee cases help us pay our secretaries and pay our rent and pay our costs, and that allows us to pursue the contingency fee cases.