No win no fee agreement: A risk-free way to get the compensation you need
Engaging an attorney or solicitor on a “No Win No Fee” basis has become a common practice, particularly in regard to claims for financial recompense after suffering a personal injury. But what does it mean, and more importantly, how can it help you?
A no win no fee agreement means you will not be charged if your personal injury claim is not successful. The agreement simply eliminates the risk of making a claim.
You will avoid upfront payment, and if you do not win your case, you have nothing to pay for the work carried out by your attorney or solicitor. However, if your claim is successful, you will only have to make a small contribution from any compensation awarded. Here’s a simple guide that will help you understand this agreement, how it works and learn if there are any risks involved.
Understand the No Win No Fee Arrangement
The no win no fee agreement often relates to claims of personal injury caused by a medical practitioner’s negligence or someone else’s negligence. Signing a no-win-no-fee with your personal injury solicitor or attorney removes the risks of making a compensation claim if you’ve been wounded in an accident that was not your fault.
Because it is a conditional agreement, the no win no fee should clearly state that if you don’t win your claim, you pay nothing to anyone. If you’re lucky, your attorney or solicitor will typically pocket a few deductions from the compensation you are rewarded:
The “success fee” for winning the case
Professional fees: legal, court, and medical
The cost of legal protection insurance
If you win, you can keep the rest which will always be the majority of the reward. The fee deductions listed above will only be made when you receive your compensation reward. Also, there will be no hidden fees or no upfront costs.
However, before signing this agreement, your attorney will explain the no win no fee in detail so you know what to expect if you win your claim.
When you file for a personal injury claim, your solicitor may need to take out special legal protection insurance so that he can cover the costs in case your claim fails and ensure claiming is risk-free. Normally, your solicitor can do this if you don’t have existing legal protection, so it’s important to check before they start working on a claim.
As we previously mentioned, the agreement takes out the risks of making an accident claim. That means you will get fair access to justice if you’ve been injured in a traffic accident that wasn’t your fault.
Choosing the no-win-no-fee option when filling out a compensation claim will be possible with the signature of a solicitor or attorney and involves:
Agreeing to handle the claim in the first place
Ensuring you have nothing to pay if the claim fails
Remember that depending on the nature of your agreement, you may be liable to pay for some fees if the claim is unsuccessful. Again, that will depend on the nature of your agreement but there’s a good chance to pay for fees if you:
Decide to abandon the claim after legal work has begun
Claim proves false, fraudulent, or you refuse to collaborate fully as part of your claim
Sometimes the agreement won’t be possible, but this is rare. If that’s the case, your attorney will notify you and guide you on what to do next.
What happens after you sign the agreement?
Your personal injury solicitor will begin collecting critical case evidence and details to help sustain your claim, including evidence from CCTV footage, witness statements and medical records, as well as the opinions of experts in the field. Because there’s a lot of work that counts in the processing of your claim (from both sides), it makes sense why you need to share your reward with your personal injury solicitor.
The next step is to contact a legal representative or the insurer of the defendant (the party or person you’re making a claim against).
Often, personal injury cases are set outside the court to save both parties time and money. After the evidence is reviewed, the person you’ve made a claim against may choose to settle on a certain amount of money out of court, but you can always depend on your attorney to advise as to how good this settlement is.
Why should you go for a no-win-no-fee agreement?
Filling a claim for compensation on a no-win-no-fee basis is a risk-free way to obtain the compensation you need after an accident that wasn’t your fault. There are no upfront costs and no fees to cover in the unlikely event that your case is unsuccessful.
Those who experience an injury out of someone else’s negligence should not feel “priced out.” With the no win no fee agreement, a personal injury solicitor can free you of any worries you might be having,
Rarely there are a few exceptions to the agreement, but you will know if they apply to you before the claim starts. Remember that you have three years from the date of the injury to file a compensation claim. So, the sooner you apply to the three-year limit, the earlier you will know if there are any exceptions.
