No win no fee agreements are also referred to as conditional fee agreements and allow you to make a compensation claim following an accident or medical negligence without paying solicitor's fees.
The agreement means that, if you win your case, your opponent will pay your solicitor's fees.
Under a no win no fee agreement, your solicitor will not be paid if you fail to win the case through no fault of your own.
As your solicitors take a risk on winning your claim, they are entitled to receive both their basic fees (at rates set by the County Court) and a success fee (which is an additional fee for taking the risk on not being paid at all).
Both these fees are recoverable from your opponent.
If you are considering entering into a no win no fee agreement, here are five things you should know: 1.
An experienced no win no fee solicitor will be able to tell you at your first interview whether you have a chance of a successful accident compensation claim.
2.
Time limitation periods apply and it is often easier investigating your compensation claim if you take early legal advice.
It is therefore essential that you contact a 'no win no fee' solicitor as soon as possible after your accident or injury.
3.
A number of costs are payable during a compensation case.
These include disbursements, or fees incurred by your solicitor in preparing your case.
Hiring a barrister and getting hold of any medical reports can be expensive, but your solicitor might delay charging you for these until the case has finished.
If successful, these costs can be sought from the opposing side.
4.
Evidence that is vital when putting together a claim for compensation includes medical records, contact details of any witnesses, and even a diary of the circumstances of the incident.
A good no win no fee solicitor will advise you to keep a diary of events and take down notes about the events that caused your injury.
5.
A good no win no fee solicitor should advise you to take out an 'after the event' insurance policy - this will give you protection by covering you against payment of costs to an opponent in the event that your claim is defeated.
Suffering an injury can often prove very traumatic.
Get the compensation you deserve.
Make sure that you contact an experienced no win no fee solicitor and to maximize the chance of a successful compensation claim that you do so as soon as possible after your injury.
The agreement means that, if you win your case, your opponent will pay your solicitor's fees.
Under a no win no fee agreement, your solicitor will not be paid if you fail to win the case through no fault of your own.
As your solicitors take a risk on winning your claim, they are entitled to receive both their basic fees (at rates set by the County Court) and a success fee (which is an additional fee for taking the risk on not being paid at all).
Both these fees are recoverable from your opponent.
If you are considering entering into a no win no fee agreement, here are five things you should know: 1.
An experienced no win no fee solicitor will be able to tell you at your first interview whether you have a chance of a successful accident compensation claim.
2.
Time limitation periods apply and it is often easier investigating your compensation claim if you take early legal advice.
It is therefore essential that you contact a 'no win no fee' solicitor as soon as possible after your accident or injury.
3.
A number of costs are payable during a compensation case.
These include disbursements, or fees incurred by your solicitor in preparing your case.
Hiring a barrister and getting hold of any medical reports can be expensive, but your solicitor might delay charging you for these until the case has finished.
If successful, these costs can be sought from the opposing side.
4.
Evidence that is vital when putting together a claim for compensation includes medical records, contact details of any witnesses, and even a diary of the circumstances of the incident.
A good no win no fee solicitor will advise you to keep a diary of events and take down notes about the events that caused your injury.
5.
A good no win no fee solicitor should advise you to take out an 'after the event' insurance policy - this will give you protection by covering you against payment of costs to an opponent in the event that your claim is defeated.
Suffering an injury can often prove very traumatic.
Get the compensation you deserve.
Make sure that you contact an experienced no win no fee solicitor and to maximize the chance of a successful compensation claim that you do so as soon as possible after your injury.
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