If you have ever switched on your TV during the day you will be familiar with the many advertisements offering you a ‘No Win, No Fee’ agreement if you make a personal injury claim with them, but is it really as simple as it sounds?
Well in some respects yes, it is as simple as it sounds, but as with everything that is a strap-line, there are more things to consider than just ‘no fee if you lose’.
A no win, no fee agreement is really called a Conditional Fee Agreement or a CFA. This agreement is designed to lay down a contract between you and your solicitor about their legal costs and also your responsibility for the legal costs of the other side if you lose. You may well be thinking, why would I sign an agreement which makes me responsible for the legal costs of the other side if I lose, and you would be right to think this, but this is a technical legal point which has to be included.
Whilst you sign the agreement to say that you are responsible for these costs, you also take out an insurance product called an ATE policy (After The Event). This policy will actually pay all the outstanding legal fees of the winning party, in the event that you lose. In addition, your solicitor will not be paid for the work they have put in on your claim if they fail to win.
So you have established, you will not pay any legal fees if you lose, but what happens if you win?
The government recently changed the rules about recovering legal fees from the losing party in personal injury claims, which now means that you are unable to claim back all of your legal costs, even in the event you win your case. You will have to pay for your ATE policy yourself and in addition, a success fee to your solicitor, which depends on the risk they have taken in running your claim.
If we do win your case you shall at the very least get 75% of the Compensation.
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