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A question our specialist serious personal injury solicitors are often asked is ‘what does No Win No Fee actually mean?’
It may sound like ‘marketing speak’ but all it means is that if your personal injury compensation claim is unsuccessful, you will not have to pay any solicitor fees or charges.
No win no fee removes all the financial risk out of making a serious personal injury compensation claim. You pay nothing if you lose your case and there are no hidden costs or upfront charges.
The correct name for No Win No Fee is a Conditional Fee Agreement (or CFA). This is an agreement between you and your personal injury solicitor.
When you sign a CFA with your lawyer, they will take out a special legal protection insurance policy for you at the same time. This protects you from having to pay the expenses associated with pursuing your claim (for example: Court fees and medical experts’ fees) in the unlikely event that your claim fails. Payment of the premium is deferred and is only payable at the conclusion of your claim if your claim is successful.
No Win No Fee is important if you have been seriously injured in an accident caused by someone else’s negligence, suffered due to medical negligence or have been diagnosed with an asbestos-related disease.
It means you can get fair access to specialist legal advice and secure the compensation you need, confident in the knowledge that you will not be out of pocket if your claim is unsuccessful.
If your claim is successful, you will pay a fee to your solicitor as a percentage of the legal costs incurred on your behalf. This percentage will have been agreed between you and your solicitor at the very start of your claim, so there are no nasty surprises or hidden costs at the end of the process.
The fee payable to your solicitor will never exceed 25% of the combined value of your claim for ‘general damages’ and past financial losses (for example: travel costs, loss of earnings, private medical treatment, etc.). General damages is compensation awarded for your pain, suffering, and loss of amenity (which is not being able to do things such as your hobbies or socialising with friends).
The cost of the insurance is also payable when your claim has settled and is deducted from your compensation. Your specialist personal injury solicitor will explain all this to you and answer any questions you may have before starting your no win no fee claim.
At Novum Law, we specialise in No Win No Fee personal injury, medical negligence and asbestos disease compensation claims. Unlike many full-service law firms, our focus is on helping people who have been negligently harmed through no fault of their own.
We understand how daunting it can be to think about making a compensation claim. And we know it can be difficult to talk about the impact your injury or illness has had on your life.
Our specialist solicitors have years of experience providing help and support to people from all walks of life. We are here to listen and to provide free, impartial, expert advice from the outset. You are under no obligation if you get in touch with us.
We have a strong track record securing maximum compensation for our clients and will work with you and your family to access the best rehabilitation and care and support available to meet your needs.
Click here to find out more about No Win No Fee.
Call us today on 0800 884 0777 or email email@example.com to speak to one of our specialist serious personal injury solicitors.
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