subject: What Are No Win No Fee Compensation Claims? [print this page] What Are No Win No Fee Compensation Claims?
Unfortunately the legal catchphrase 'no win no fee' and '100% compensation' are so overly used that people become weary of their legitimacy.At the end of the day, when we use any professional we do expect to incur a bill. In the same way, if we are asking them to get hold of someone else and get them to pay their dues, we would expect to pay them a percentage of the proceeds.So is 'no win, no fee' and '100 per cent compensation' just too good to be true? On the up side this type of legal promise is founded on common sense.Such agreements, commonly known as Conditional Fee Agreements, provide for your solicitor's fees in accident compensation claims and cases of medical negligence allowing you to make an accident compensation claim without having to incur any further cost. This is quite reassuring to know as your suffering might have already cost you money.The rule of thumb is this: if you win your case, your solicitor's fees will be paid out by the person or organisation you have issued your compensation claim against. If your solicitor incorrectly tells you that your claim will be successful and it is not, then they too will have lost out as the will not earn any fees. This should give you some faith in them telling you that you have a promising case, as essentially they are putting their own neck on the block financially.Due to the fact your solicitor is considered to be taking a risk they will receive more money in the form of a success fee as well as their basis fee as laid out by the County Court. Both these things can be got from the other party. As your solicitor is being paid for his or her good work, they are then able to promise that 100 per cent of your compensation winnings go to you.You should also note that should your injury compensation claim go to law, you will be advised to take out 'after the event insurance'. This is protection for you against incurring additional costs by paying the other side's fees if your claim fails.'No win, no fee' and '100 per cent compensation' mean exactly that - they ensure that justice is seen to be done.
