No Win No Fee agreements (also called Conditional Fee Agreements) cover your solicitor's fees for accident compensation claims and medical negligence cases, allowing you to make an accident compensation claim without paying solicitor's fees. If you win your case, your solicitor's fees are paid by your opponent.
Under a No Win No Fee Agreement, your solicitor will not be paid if you fail to win the case through no fault of your own. As your solicitors take a risk on winning your claim, they are entitled to receive both their basic fees (at rates set by the County Court) and a success fee (which is an additional fee for taking the risk on not being paid at all). Both these fees are recoverable from your opponent.
Listed below are five things you should know if you are contemplating hiring a solicitor through a No Win No Fee Agreement:
1. An experienced no win no fee solicitor will be able to tell you at your first interview whether you have a chance of a successful accident compensation claim.
2. Time limitation periods apply and it is often easier investigating your compensation claim if you take early legal advice. It is therefore essential that you contact a 'no win no fee' solicitor as soon as possible after your accident or injury.
3. A number of costs are payable during a compensation case. These include disbursements, or fees incurred by your solicitor in preparing your case. Obtaining medical reports or hiring a barrister can all prove costly, but a solicitor may well defer billing for these expenses until the end of a case. If you win, you can seek these costs from the opposition.
4. Evidence that is vital when putting together a claim for compensation includes medical records, contact details of any witnesses, and even a diary of the circumstances of the incident. Most good no win no fee solicitors will recommend you maintain a diary of events and make notes about the circumstances causing your injury.
5. A good no win no fee solicitor should advise you to take out an 'after the event' insurance policy - this will give you protection by covering you against payment of costs to an opponent in the event that your claim is defeated.
Suffering an injury can often prove very traumatic. Don't miss out on the compensation you deserve. You should contact an experienced no win no fee solicitor - and the sooner you do this after your injury, the more likely you are to have a successful compensation claim.
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