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No win no fee is a fair means of providing everyone with access to justice, especially those who can’t afford to pay solicitors’ costs. It means just what it says – if a compensation claim fails, the claimant doesn’t pay anything even though their solicitor will have run up considerable fees during the claims process.
No Win No Fee services are officially known as a conditional fee agreement, which states that your solicitor will only be paid for their services if you win your claim for injury compensation.
A deduction if you win
When a claimant succeeds and wins their compensation claim, a deduction is taken from the 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 cost of their claim. The deduction is formed by the value of the entire claim including the sum provided for a special damages settlement. A successful claimant may also have to repay the cost of any ATE insurance put in place by their Solicitor.
At Direct2Compensation, our no win no fee 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, and that apart from a possible 25% deduction and the cost of your ATE insurance policy (if your Solicitor has had to put one in place for you) you will receive the rest 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 so long as you are not acting fraudulently.
This means that the solicitor’s own costs are lost when a claim fails. The 3rd party defendant may well charge their costs to the claimant’s solicitor, but our solicitors will have ensured that all claimants have obtained an insurance policy that will cover such costs. The insurance policy 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.
The important thing to remember is, that with Direct2Compensation, our claimants are not responsible for any legal fees if their claim fails.
It continues to be very much worthwhile to pursue a no win no fee claim for personal injury compensation and the independent specialist Solicitors who pursue our clients claims, will do their utmost to minimise any deductions from compensation settlements. Our staff and the partner law firms with whom we will place your claim for compensation uphold the ethos of working in our client’s best interest at all times. We are proud to be part of the personal injury claims industry, and to help our clients claim compensation they deserve in an efficient and ethical way.