We are just lucky that many of us do not fall victim by the negligence caused by others. However, there are those people who are processing their compensation claim encounter confusion and protraction. That is why the no win no fee solicitor can provide protection against extensive legal fees. But you have to make sure that you know the work of your solicitor in the no win no fee agreement also known as the contingency fee agreement. This will be the basis whether or not to pay the legal representative.
What we mostly know about this agreement is that the plaintiff will not be obliged to pay the solicitor if the case loses. This is the general idea of the agreement but only few people realize that this settlement is risky for the solicitor and the plaintiff especially if the claim will be unsuccessful. The solicitor of the no win no fee is engaged mostly in claims related to personal injury but this agreement is also used in other aspects of personal.Visit this site right here no win no fee lawyer information.
There are certain aspects that you need to know about your no win no fee solicitor. He is also fixed with a success fee or uplift depending on the agreement of the plaintiff and the solicitor. The success fee can be increased up to 100 percent of the solicitor’s regular fee. You have to take note that the success fee is fixed depending on the assessment of the claim whether or not to win the case. The expected outcome of this agreement is that the solicitor will receive no fee if the claim is unsuccessful but if claim wins, the solicitor will get his regular fee plus the agreed success fee. All these fees will be claimed from the losing party.
When the solicitors decide to accept the case, they have to carry out the risk analysis and must retain it on their file. If you win the case, the success fee will be provided by the losing party. However, the agreed success fee between you and the solicitor will be challenged by the judge. If the judge finds the success fee to be very high, he/she can reduce it or fix the percentage according to the various stages and elements of the claim. After the judge has determined the new success fee, the plaintiff will give out the amount approved by the judge – not the agreed compensation made by the solicitor and the plaintiff prior to the challenge.
Aside from these information, you may want to ask if are there other costs to pay when you have more instructions for your solicitor? Yes there are still other fees involved because ‘no win no fee’ is not ‘no win no cost.’ The purpose of the contingency fee agreement is to protect the unsuccessful plaintiff in paying the solicitor. But the regular rule in of the no win no fee in UK is that the losing party will pay all the costs that the winning party incurred. Even if the rationality of the costs is open for assessment, those fees are already considerable. So that you will be protected against the potential liability, your no win no fee solicitor will tell you to take out the after the event insurance because the cost of the insurance will depend on the details of the case.