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Exactly what is a No Win No Fee Agreement?
As most of us are not entitled to “Legal Aid” it is important that if you have chosen to pursue a claim that you look for compensation solicitors who operate on a “No Win No Fee” basis.
Get more info from “No Win No Fee” or “Conditional Fee Agreements” as they are often known basically mean that if you should lose your claim then you don't pay the fees of the compensation solicitor - however you might have to pay some fundamental costs (please refer to our section on “No Win No Fee Exemptions “for further details).
No Win No Fee Success Fees


If you win your claim then you will have to pay your solicitor what is known a “success fee” - legislation introduced in April 2013 has capped this “success fee” at a more 25% of the compensation value awarded for you.
No Win No Fee And also the Opponents Costs
Underneath the relation to a “No Win No Fee” agreement, in the event you lose your compensation clam when you will not have to pay your personal solicitors fees you will have to cover the expense of your opponent’s attorney's fees. As a result, it is always strongly advised that you take out “After The big event Insurance” to pay for these costs should such an eventuality arise. In fact, most reputable compensation solicitors will insist you have this insurance in position before they take any action towards securing injury compensation.
What Financial Costs Are NOT Covered By No Win Free?
Before you sign up to a “No Win No Fee” agreement with any compensation solicitor it is crucial that you are aware of what could often be termed as “hidden costs”.
Barristers Fees
whilst the most of compensation claims are settled out of court, certain cases are escalated to some court of law. In such an instance not simply will your solicitor represent you but in addition a barrister. “No Win No Fee “agreements overall do not include barrister’s fees.
Further Costs Hidden Within the Small Print
As with any contract read the terms and conditions very carefully for added hidden costs, for example;
• If your solicitor advises that you simply drop your claim part way through the procedure you might still need to pay costs.


• If an out of court money is offered, and you accept it against the advice of your solicitor, again there might be costs you have to pay.
• You may incur hidden costs if you cannot use your compensation solicitor in some manner.
• If won by you your case, however the other side cannot afford to pay, then the terms and conditions may stipulate that you simply then have to cover these costs.
• If your solicitor advises you not to pursue the situation and you switch to a new solicitor who then subsequently wins the situation for you, the initial solicitor may, according to the terms in their contract, be eligible for a “success fee”. This could then lead to you paying two “success fees”.

 

Visit to, http://www.nowinnofeeuk.org

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