No Win No Fee Claims Guide
What is No Win No Fee? Find out everything you need to know about personal injury claim here.
No Win No Fee also commonly referred to as A Conditional Fee Agreement (CFA) is a legal agreement made between you and your solicitor allowing you, the claimant, to pay legal fee only upon successfully getting compensation. If your claim for compensation is unsuccessful, then you have no obligation to pay your solicitor any money. No Win No Fee Solicitors are very keen when taking up Personal Injury claim cases and will do a thorough risk assessment to ascertain your chances of a win- after all if you lose they lose as well.
The advantage of No Win No Fee representation is that you are not obligated to pay upfront legal costs which are far beyond reach for a lot of people seeking compensation. Instead, you only agree on the amount and it can only be demanded if the money is in your account.
For No Win No Fee solicitors, their focus is to get you the highest compensation possible. This means that despite the upfront free legal representation, they are willing to go to any length preparing a strong case with an almost 100% chances of winning. During your initial consultation, the first thing is assessing your case and going over the documentation that backs up the claim.
After thoroughly analyzing your documentation, if our solicitors agree to take on the case, they will discuss with you the Conditional Fee Agreement and if you agree to the terms, they will keep you informed through Emails and phone calls or appointments if you prefer so.
The good thing with going the No Win No Fee route is that you can actually get highly qualified professionals that would be out of pocket reach if they were to ask for legal fee upfront. This increases your chances of a successful compensation.
Contents of a No Win No Fee Agreement
- A Conditional Fee Agreement is a written legally binding document.
- There should be no vague statements in the document. It should be clear and concise.
- It must state the success fee. This is the percentage the solicitor requires in case of a successful case.
- Finally, a No Win No Fee Contract must entail details of how and when the solicitor fee and other related fees such as court fees, in case the claimant has agreed to pay if he/she loses the cases.
- Although the No Conditional Fee Agreement is a widely standardized document across the industry, it is important to read and understand each statement.
Unsuccessful No Win No Fee Claims
In the event an Accident Claim is unsuccessful, the events after that depend on what you signed for in the Conditional Fee Agreement. While you are exempt from your solicitor representation fees, if you had signed to pay the court costs or any other miscellaneous costs, then you will be expected to cover these costs without fail. As a safeguard against potential liability in case a client loses, we advise you to take an after-the event insurance policy as a precaution. You can take the insurance policy to pay later meaning that the premiums do not kick off until the case has been decided.
No Win No Fee Solicitors
From April 2013, solicitors were duly allowed to set percentages of their success fees. While No Win No Fee services are enticing, as a claimant, you will need to shop around for a number of No Win No fee solicitors and query about their payment conditions, success fee percentages and other terms of engagement before you sign the conditional agreement.