|
 |
 |
 |
||||||
|
|||||||||
No Win No Fee Compensation Claim
Working under a no win no fee arrangement is not as straight forward as it may sound. Don’t get me wrong, it’s a real opportunity, but there are some details you should be aware of. First of all, you may know that it is a new type of legal procedure, and although it has been practiced in the U.S. for a while now, in the U.K. there were serious debates concerning whether it should be approved or not. The strongest argument that its contestants had was the fact that an lawyer would not be able to represent his client unbiased, due to the fact that he only got his commission if he won the case. Because yes, you guessed it, your lawyer will only get his financial benefits from representing you if he wins the case. That’s what the “no win no fee” term is all about. On the other hand, this type of agreement gives you the possibility of retroactively paying your lawyer, and moreover, if your claim is successful, you may even have the opponent pay your own lawyer, or at least some part of his commission. So, where’s the catch? The catch is that if you lose your case, you may find yourself in the unpleasant posture of having to pay your opponent’s costs of going through the legal procedure. There were cases of uninformed people who took this term for granted and when they lost the case they didn’t have the financial means to pay their opponents. So, remember, as a rule of the thumb, you must have the financial resources of losing the case, even if there’s a very slim chance that you will. The costs of losing the case may vary from a few hundred to a few thousand pounds, so be careful.
The no win no fee compensation can be received after suffering different kinds of accidents that you went through and weren’t your fault. For example, workplace accidents, industrial accidents, holiday accidents, road accidents, car accidents, motorcycle accidents, pedestrian accidents, may all be eligible for this type of agreement. The risks of going through the procedure should be made clear from the beginning to you by your chosen lawyer. In the preliminary interview he should point out to you everything from the worst case scenario to the best case scenario. If he accepts your case, you probably have a winner, but you can never know. As another measure of precaution, make sure that you answer all his questions honestly, because you don’t want to find yourself losing the case because you didn’t inform your lawyer properly. The no win no fee advantageSo, what are the worst case scenario and the best case scenario? If you lose, you will probably have to pay the opponent’s lawyer, even phone bills, etc. There’s an insurance you can get to prevent you from losing too much money. It’s called after the event insurance (ATE) and your solicitor will probably tell you to get it prior to getting into the actual case. If you win, you get your compensation, out of which you have to pay your lawyer. Under a no win no fee arrangement, there are two fees your lawyer will charge you: the basic fee and the success fee. The basic fee has a pre-determined amount, and it’s based on the risk factor of the case. The success fee is like a bonus for winning, and it is a percentage out of the basic fee. The good news is that you can get your opponent to pay at least a part of these fees. So, not that you now the basic concepts, it all depends on your motivation. But even if you are sure you have a certain winner, don’t forget the rule of the thumb I told you about earlier. Hopefully, you won’t have to go through all that, and you’ll have a successful no win no fee compensation claim.
The Author It's easy to proceed with a no win no fee compensation and gain maximum results without the hassle, costs and confusion. Discover how to finish 50% of your claim in 7 days or less at: If you want to make an injury claim choose one of the following options: 1. Fill
in the 2 minute 'Free
Online Claim Assessment Form' Please note the service we provide is confidential and it won't even cost you for trying.
|
|
