This entry was posted on Thursday, April 29th, 2010 at 2:28 pm and is filed under No Win No Fee, Personal Injury Claims. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
No Win No Fee Legal Agreements
One of the newest ways for legal fees to be paid is through no win no fee agreements, or conditional fee agreements. Under this type of payment schedule, legal fees are waived until the case is heard. If the case is successful, the person filing the case pays the required fees. If the case is unsuccessful, then the fees are not paid. In other words, paying any legal fees is conditional on the outcome of the case.
Most commonly, no win no fee lawyers work within the fields of personal injuries or employment complaints. Personal injury claims can include car accident claims, medical negligence and any other accident or injury that is due to another person. Non win no fee employment solicitors usually represent those who have been let go without reason or harassed in the workplace.
Whether due to injury or lack of work, it is likely that the people that file these cases may not have the resources to pay for legal help up front. In the past, they would have had to seek assistance from legal aid, which often took time for their cases to be assessed. To take the burden from legal aid, no win no fee claims were introduced, which allowed individual solicitors and lawyers to evaluate the relevance of each case.
While this payment agreement seems like a win-win situation, there are some disadvantages. Solicitors may not take cases if the compensation amount is not deemed large enough. Also, some lawyers and solicitors have been known to charge an unfair percentage of the claim amount to cover their fees. This is not always the case, but it is important for anyone undertaking a no win no fee agreement to understand exactly what compensation they can expect and what fees they will have to pay prior to starting the case.
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