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Why do some law firms refuse to accept cases on a contingency basis?

April 26, 2017basis cases Contingency law firms refuse

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Why do some law firms refuse to accept cases on a contingency basis?

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Some common reasons are as follows: 1) Some law firms do not have the financial resources to accept contingency cases because payment of legal fees can be delayed for a year or more. During the litigation, salaries, rent, utilities, insurance and other costs must be paid by the firm while it waits for the case to settle or go to trial. Many firms do not have the financial resources to accept the risk of not prevailing. 2) Some firms are just philosophically opposed to working on cases where payment is not received monthly.