A No Win No Fee arrangement between you and a specialist injury compensation solicitor is an agreement which states that your solicitor will only be paid for their services if you win your claim for injury compensation.
It means just what it says – if a compensation claim fails, the claimant doesn’t pay any fees even though their solicitor and 3rd party defence team will have run up considerable fees during the claims process.
No Win No Fee agreements are officially known as a conditional fee agreement. Such legal processes are available to all people to provide access to justice and remove the barrier that having to privately fund expensive legal processes would present to most people wishing to claim injury compensation.
A deduction if you win
When a claimant succeeds and wins their compensation claim, there is a deduction to be taken from the clients compensation settlement. This came about as a result of the government’s Compensation Act 2012 (LASPO Act 2012) that sees winning claimants contributing up to 25% of any settlement value to the costs of their claim. The 25% deduction is formed by the value of the entire claim and may also include the sum provided for a special damages settlement.
At Direct 2 Compensation, our no win no fee claims process complies fully with the requirements of legal and government legislation. This guarantees that the bulk of your legal costs will be paid for you when you win your claim for accident compensation and that you will receive at least 75% of any compensation settlement awarded to you. The balance of your legal costs will be payable by the 3rd party.
No costs if you lose
In the event that your no win no fee claim is not successful, you will never be liable for the costs incurred. You will not be charged for any claim should it fail to succeed in your favour, so long as you are not acting fraudulently.
The important thing to remember is, that with Direct2Compensation, our claimants are not responsible for any of the costs. This means that the solicitor’s own costs are lost when a claim fails. The 3rd party defendant may well then charge their costs from their successful defence of the claim to the claimant’s solicitor. Our specialist injury compensation solicitors will have ensured that all claimants have obtained an insurance policy that will cover such costs should the claim fail. The insurance policies will cost the claimant nothing if the claim fails, but the premium for the policy may be deducted from the compensation settlement should the claim be won.
Please be aware that Direct2Compensation and our partner solicitors do our utmost to minimise any deductions from compensation settlements, as far as practically possible. Our staff and partner firms uphold the ethos of working in our clients best interests at all times.