A complete guide to ‘No Win No Fee’
When pursuing an accident injury compensation claim, it’s advisable to find a solicitor who specialises in this field. Often a solicitors firm will offer what’s known as a ‘No Win No Fee’ arrangement, so if you don’t win your case you won’t have to pay anything.
‘No Win No Fee’ is the unofficial name for what’s known as a Conditional Fee Arrangement, or CFA. There are many different types of CFAs, and sometimes finding the right solicitor can be dependent upon finding a firm who offers the right kind of CFA to suit your needs.
Keep all of your compensation
The first thing you should look for when considering a ‘No Win No Fee’ option is whether or not you will be able to keep 100% of your compensation. If you can, this usually means that your solicitor will claim their expenses from the other party’s insurance after you win. This is the most beneficial scenario for you and is the option most people choose when deciding to pursue a claim for injury compensation.
Understanding the risks in ‘No Win No Fee’
Sometimes when making a ‘No Win No Fee’ claim you may incur preliminary expenses. Supporting evidence will prove your right to compensation and must be paid for before you can proceed with your claim. In the event that you win the opposing party will usually have to pay all of your expenses, but if you lose you will not be reimbursed.
Additionally, if you lose your claim you may be expected to pay for the other party’s court fees. Sometimes solicitors will help you to set up legal expense insurance which will pay these fees, but if you have no insurance against court costs you may find yourself having to pay out costly sums of money in the event that you lose.
You may also find yourself having to pay for any shortfalls in your solicitor’s expenses which are not covered by the losing party’s insurance. To safeguard yourself against unexpected expenses, find a solicitor who will discuss all of these options in full before you make your claim.
Finding the right ‘No Win No Fee’ solicitor
In your initial discussion with a solicitor you should be provided with free advice about all of your claim options. They will then conduct a risk assessment in order to decide the best way to proceed with your claim. All solicitors have to follow a strict set of guidelines when pursuing a ‘No Win No Fee’ claim, so make sure you have all the facts before committing to your personal injury solicitor, to ensure that your claim has the best chance for succeeding.