In the past, accident victims have sometimes been unable to file an accident claim, even if they have sustained an injury that was not their fault. Deterred by the high costs of legal help, victims were left with no other option but to shoulder the often-high expenses of suffering an injury. Fortunately, this situation has now changed. Solicitors are able to offer professional legal support to every accident victim, regardless of income by offering to work on a ‘no-win, no-fee’ basis. But what does no-win-no-fee mean and how does it work?
No Win No Fee – Too Good to Be True?
A no-win, no-fee agreement is exactly as it sounds. If your solicitor does not win your case, you will not have to pay your solicitor’s fee. This is called a Conditional Fee Agreement or a CFA and forms a legally binding contract between you and your solicitor. It states that you will only be expected to pay your solicitor’s fee if your case is successful. This means that you will NOT incur any upfront costs as a result of making your accident claim.
Your Solicitor’s Fee if Successful
If your case is decided in your favour, the cost of your solicitor’s fees is usually recovered as a percentage of the compensation awarded. The exact percentage will depend upon your solicitor’s payment terms but cannot by law exceed 25% of the damages recovered. In some instances, your solicitor’s fees will be paid by the insurance party of the losing side. It is a good idea to ask your solicitor about payment terms and any other details before you sign the CFA agreement.
Are There Any Costs if Your Case Is Unsuccessful?
In some instances, if your case is lost you may be held liable for the legal costs of the opposing party – this could include solicitor’s fees and court costs. In order to eliminate this risk to you, your solicitor could ask you to take out an ‘after event insurance’ policy, which would not only cover such costs but remove any financial risk faced by yourself in making a claim.
What Do You Have to Lose?
If you suffered an injury as a result of an accident that was not your fault within the last 3 years, you should consider consulting a solicitor about filing a No-Win, No-Fee claim. With no upfront costs and financial risk, what do you have to lose? Call us at Personal Injury Claims 4 UK to discuss your claim – you can be sure that the advice you will receive will be completely impartial and will cost you nothing.