How Does a No Win No Fee Lawyer Operate?
June 17, 2018 | Claim Advice
If you find yourself injured at the fault of others, such as a workplace accident, a motor vehicle accident, or in a medical setting, you’ll probably be researching how you can be compensated. This includes the inconvenience, loss of income, as well as physical and mental harm you have incurred. You can do this by submitting a compensation claim. After a quick online search, and speaking to a few close friends and family members, you might realise this can be a costly decision if you make the wrong choice. Expenses quickly add up, and there’s always the chance that you won’t win. However, some compensation lawyers work operating on a ‘no win, no fee’ basis. It all sounds fantastic, and in some cases too good to be true. So then, how do no win no fee lawyers work? There’s a widespread acknowledgment that legal fees can be expensive, but this is not the case for every law firm. No win no fee lawyers are simply doing what they can to make sure that everyone can access justice. Put simply, no win no fee lawyers will assess your case to determine if you have reasonable grounds to proceed with a claim. This is often why they have such high success rates, because they know you really have been mistreated, or someone else has harmed you through negligence.
How Much Do No Win No Fee Lawyers Charge?Although we often see the big payouts, no-one seems to ask how much no win no fee lawyers charge for their results. It actually means just what you’d expect: by working with no win no fee lawyers, you may not have to pay any fees if your compensation claim is unsuccessful. Of course, if your claim is successful, you may be charged what is termed a ‘success fee’—an increase of 25% on top of the original cost. It’s important to note that this fee is not calculated with regard to your settlement amount; it is only an additional 25% of the original lawyer’s fee. This means you’ll be fully informed of the final amount payable should you win, prior to settlement. Your settlement money will be yours alone, rather than being eaten away by hidden fees.
Are There Additional Costs?In certain compensation claims, there may be fees which don’t come under the no win no fee arrangement, as they aren’t costs that are determined by your compensation lawyers. For example, in some claims involving medical law, you might be required to pay for investigative reports. These additional fees will depend on your claim in question, and a conversation with your compensation lawyer is the best way to determine whether there will be any other fees involved. You have a right to always be informed about these fees upfront and then updated if anything changes. In other cases, there may be different fees involved, including those of going to court and losing. Should this be an avenue you wish to discuss, your compensation lawyers will be well placed to help you make an informed decision.
How Much Can I Claim?Each claim is different, so there is no single answer to this question. Factors that will impact how much you can claim include:
- Injuries incurred
- Your age
- Estimated income you’ve lost
- Care you have or will require
- Out-of-pocket expenses
- Ongoing potential costs such as psychological help.