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No Win No Fee - Compensation Claims - No Risk - No Costs
Maybe some of you have heard of the no win no fee term and know what itís supposed to mean. For those of you who donít, Iím going to give a definition. The no win no fee arrangement is the one in which you have to pay the lawyer only with the condition of him winning your case. So, in other words, if you want to get an injury claim, an accident at work compensation, etc. and you hire a lawyer that doesnít win your case, you donít have to pay him anything.
So this is a piece of very good news. Let me explain you why. The no win no fee arrangement (or the conditional fee arrangement, how itís technically called) gives the opportunity of claiming to people who wouldnít have afforded it otherwise. It has replaced the traditional fee arrangements with a fee that only applies in the case of a successful compensation claim. Still, there is a little catch to this, and you should be informed thoroughly.
From what Iíve told you, you can draw the conclusion that you only have to pay your solicitor if your case is won. Yes, thatís true. However, if you case isnít won, you have to know that you might have to pay your opponentís costs. So my advice here is simple: request for a compensation claim that you know you can win. I mean, if youíve been involved in a work accident or a road accident that you are sure it wasnít your fault, go for it. If you are not that sure, you may assume the risks, but also be aware of the possible consequences, and by that I mean paying the opponentís costs if your case is not won.
NO WIN NO FEE.
So, which are the situations that can make you eligible for requesting a compensation claim under a no win no fee arrangement? You can easily find a solicitor who works on this basis if youíve suffered one of the following: an accident at work, a road accident, an injury caused by a mistake in your medical treatment or an accident suffered in a public place. So, when going for this, there can basically be 2 outcomes:
Itís not impossible, it can happen. If you lose, you will have to pay the opponentís costs and your medical expenses will remain uncovered. Of course, you wonít have to pay your solicitor. It is advisable that, in the unfortunate event that you lose, you get your after the event insurance.
So, as always, there are 2 sides to every story. The term ďno win no feeĒ is not as straightforward as it sounds, but itís a chance for those who are not that wealthy to request their claims. Read carefully this article and think about all the possibilities. The no win no fee arrangement basically helps people, but do not get involved in one if you donít have the possibilities to pay the price of losing. Even if thereís only a tiny 0,01% chance that you lose. Itís that simple.
As in everything in life, you have to take chances. No one can 100% guarantee you that heíll win your case, even if all the evidence is in your favor. Your solicitor will do everything is in his powers to win your case, because heíll want to get his fee. Thereís no doubt about that. But sometimes he may do everything humanly possible and still lose. Thatís when you need to know that you have your back covered. And if you have your back covered, you can go for that no win no fee arrangement.
In the happy ending case that you win, youíll still have to pay a great amount of money, much more than in the case of losing, but that should be well covered by the compensation you get, which will make it all worth it. The solicitor has two types of fees actually: the basic fee and the success fee. The basic fee is the bigger one, and you only have to pay it in case of success. The success fee may even be paid by your opponent, but not entirely. So, in conclusion, if you win you will have to pay your solicitorís basic fee and a part of the success fee. However, the compensation you get and the overall profit should be 2 or 3 times bigger that your expenses.
About the Author: It's easy to claim compensation without receiving any final moments of 'shock'. It's a new era in no win no fee claims; ask power questions and you'll be laughing to the bank at: