Why should you Choose the right No Win No Fee Injury Claims Solicitors?
The stress of personal injury can be quite high without the worry of
where to find suitable no win no fee injury claims solicitors and uncertainty about costs. Especially in the event where no legal
cover is present. This is exactly what no win no fee is for. Under this
agreement, there are virtually no upfront costs to making a claim and in most
cases costs are recovered from the claim amounts. But there is more to the
details of such an agreement, and this is what we wish to uncover with you
today.
What is No win No fee?
The concept of no win no fee was introduced in 1990 by the Courts
and Legal Services Act.and since has played a pivotal role in the way
clients can benefit from affordable legal counsel. The no win no fee was
implemented by injury claim solicitors in 1995 for the first time in England and whales and 3 years later in
1998 it was extended to feature in all civil cases as well. The main idea
behind this type of agreements is that the no win no fee injury claims solicitors will receive their fee is the case is settled successfully or won in
court. The agreement states that your legal representative will be paid for the
hours worked as well as a pre-established “success fee”. This can be as much as 100% of the
original costs.
What Percentage Do No Win No Fee Injury Claim Solicitors Take?
It is common practice for injury claim solicitors handling
your case to recover the costs of their services from the compensation payout
received after the successful completion of the claim. Such a fee is calculated
as a percentage and is normally stipulated in the now win no fee agreement
which is also known as the conditional fee agreement (CFA). This can vary from
10% to a maximum of 25%. Sometimes administrative fees as included and
sometimes calculated above the agreed percentage so it is always a good idea to
consult your legal representation carefully about these provisions. Your
agreement will also stipulate the recourse of fees in the event where a case is
lost. These fees might include the costs of the opposition, court fees as well
as any other administrative figures incurred during the handling of your case. Many
solicitors also take out insurance to mitigate the risk of failure, so be sure
to find out if that is done or otherwise you may want to consider obtaining
insurance for this very reason.
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