Some consumer advocates argue that attorneys' high contingency fees - sometimes reaching 40% - unfairly deprive winning plaintiffs of too much of their awards. Should the government cap contingency fees at say, 20% of the award? Why or why not?

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Business

Jose Rollins

18 April, 19:17

Some consumer advocates argue that attorneys' high contingency fees - sometimes reaching 40% - unfairly deprive winning plaintiffs of too much of their awards. Should the government cap contingency fees at say, 20% of the award? Why or why not?

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Itsy · Answer 1

Yes, the government should cap contingency fees at 20% or thereabout of the award. The fees that attorneys charge should be at a specific range or percent of the award. They can negotiate for more fees if there is need for extra work to be done. Cross and Miller (2012) put forward specific amount of fees for different kinds of work that are to be done at specified amount of time. Several attorneys also accept contingency fees which comprise about 25 - 40% of the given award.

Explanation:

The fees that attorneys charge should be at a specific range or percent of the award. They can negotiate for more fees if there is need for extra work to be done. Cross and Miller (2012) put forward specific amount of fees for different kinds of work that are to be done at specified amount of time. Several attorneys also accept contingency fees which comprise about 25 - 40% of the given award.