Facts About No Win-No Fee Agreement

No win no fee

                      What is no win no fee

‘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.

Compensation claim

                 No win no fee compensation claim

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.

Know More About No Win No Fee Compensation Claim

No win no fee, Compensation claim

No win no fee claim conditions

Considering the amount of time and money one has to spend, many people refrain when it comes to filing a lawsuit in court. They will have to do constant follow-ups and make appearances in court; both time consuming and mentally draining. Though a would-be plaintiff might have suffered considerable loss and pain, he/she would keep from the decision to go to court, owing to many reasons. Fortunately, though U.S. law contains a crucial and very useful legal statute, which dictates that those who file a civil lawsuit in court, will be entitled to get some relaxation and support through the No Win No Fee compensation claim. When we consider this in detail, there are both pros and cons for the plaintiff and for the lawyer as well. If you are considering such a legal procedure, it’s better that you be informed about the various aspects of this claim process. Let us discuss this in detail.

No Win No Fee – Pros and Cons

With this statute in effect, much of people’s pressure and tension is relieved. This claim enables one to take a risk and go ahead by proceeding with the litigation. One of the ways this has backfired, though, is that there are numerous claims surface every day, and not all of them genuinely valid. There number of fake claims files is on the rise, and these waste valuable court time.

No win no fee, Compensation claim

no win no fee compensation claim

The main advantage to this claim is that the plaintiff will not have to pay for the lawyer’s fees the litigation doesn’t yield a settlement. This means one can confidently sue, without worrying about the loss of money that would have to be planned for otherwise. Another disadvantage is that, around one third of the amount recovered as damages, is charged by the lawyer towards his fees, for appearing in court and presenting the case in favor of the client. If the litigation takes up too much time, and if the client decides to pay for it, the final lawyer fee is likely to exceed the recovery amount; this will be a problem for the client. As opposed to this, the lawyer gets the benefit of receiving more money than he could have earned on an hourly rate. But if the lawsuit fails, the lawyer does not get paid.

The above information, no matter how helpful, cannot substitute for legal advice. Please consult a reputed no win no fee attorney before filing this claim.