‘No win no fee’ has now become a popular term because of its association with injury claims. In U.S, there are millions of people who sustain injuries due to accidents. But surprisingly, only a third is found to make use of compensation claims. There could be mainly two reasons behind this – either they are completely ignorant of this particular agreement or they are ill-informed about it.
So what does it actually entail?
There is a common misconception among the people when it comes to no win-no fee attorneys. Does it mean that you don’t have to pay anything if you don’t win your case? Of course, there may be a few firms which claim you don’t need to pay anything if you don’t win. In fact, this isn’t true. The fact is that you don’t have to pay your solicitor’s fees if you lose your claim. Yet, you may be liable to pay your opponent’s costs, like his solicitor’s fees and other costs. These costs usually include court fees, medical report fees, ‘after-the-event’ insurance etc. Often you may be required to pay such costs upfront.
Is there a way to avoid the opponent’s costs in this agreement?
There is another option availing which you don’t have to pay a single penny whether you win or lose your claim. This is possible when you claim for compensation through ‘The Claims Solicitors’. Here ‘after-the-event’ insurance is taken out on your behalf which will usually cover your opponent’s court fees, as well as yours and your opponent’s costs.
No win no fee is a common term used for its lesser known term called Conditional Fee Agreement (CFA). When you accept this agreement, you are entitling your personal injury lawyer for a success fee for a successful claim. Usually your solicitor receives his share from the compensation award or it will be paid by the opponent. When the claim is made through The Claims Solicitors and you win the same, it will be the responsibility of the other party to pay your solicitor’s success fees, which will guarantee you a 100% compensation award.
Make use of such legal benefits which takes way much of the risks associated with injury claims. Also keep in mind that it will be wise to check with your solicitor before you decide to go ahead with the agreement.Google+