No Win No Fee Compensation
For UK residents who wish to pursue a personal injury or car accident claim, a new payment scheme has become available whereby your solicitor receives his or her fee only if you win your case. This is the ‘no win no fee’ compensation scheme and it has several advantages over the traditional method of paying a solicitor.
The primary advantage is, of course, monetary. You are not obligated to pay your solicitor’s salary while the case winds its slow way through the legal process. It also removes cases from the legal aid system and eliminates the independent regulator from the case, who may or may not see the merits of your situation and allow the case to move forward.
A no win no fee case is agreed on between you and the solicitor; if he or she feels your case has merit, it will be accepted. Not every case is suitable for this scheme, however, so if this is a consideration for you, a no cost, no-obligation consultation with a solicitor who specialises in this field is usually advised.
The solicitor’s fees, under the no win no fee scheme, is paid by the losing side; this means that if the other side wins, you may be liable for those costs. To alleviate worry and financial burden, an insurance policy, known as an “after-the-event” policy, is usually required to be purchased. The cost of this varies and is one that cannot usually be deferred until the case is decided.
Since there are so many factors involved, sitting down with an expert, to discuss the no win no fee scheme and everything involved is usually an excellent first step for those considering pursuing a claim.
Socialize