NO WIN NO FEE Explained
‘No Win No Fee’ explained
There is a lot of misunderstanding not to say misinformation about ‘No Win No Fee’
So here it is explained:
‘No Win No Fee’ came into being in the year 2000 as a direct result of this government ‘Access to Justice’ Bill, which abolished legal aid for most civil claims. The acceptations are ********, medical negligence, and some family subject to income.
As a footnote I feel it’s worth mentioning that this government is planning to withdraw legal aid or legal help as it’s now known from all actions other than serious ******** cases. This will result in consumers and victims of the state finding it even harder to obtain competent cost effective legal representation
These are the agreements, which cause the most misunderstanding amongst consumers in general.
In this agreement the claimant agrees to share their compensation with the firm acting for them. Although often 25% this percentage share can vary dramatically upward depending on the firm, type of claim & the risk involved.
The risk to the claimant is none other than they will if successful forfeit an agreed percentage of their compensation. On the other hand if they lose it will cost them nothing other than time and trouble
The risk for them is that unless there is legal expenses insurance in place they risk on losing having to pay the defendants costs, which can be substantial.
Conditional Fee Agreements (CFA}
This is also a ‘No Win No Fee’ agreement that is used by solicitors when acting for claimants and the difference is that you receive all of the compensation. The solicitors receive their legal fees/costs from the losing 3rd party.
ClaimantNone provided you have followed the advice offered & cooperated in the pursuit of your claim
The RepresentativeNone provided the claim had merit from the outset and any adverse costs which, can be awarded against you even if you win your claim, will be covered by the ATE
Last edited by Lefty : 28-06-2007 at 10:04 PM.