A list of limitations intrigue by the solicitors for no win, no fee personal injury claims. There are too many things that should be taken care of by the lawyers to execute a personal injury claim process. We have a detailed article to present that can help you better understand the process, limitations, and risks for a personal injury claim solicitor.
Understand the Term No Win, No Fee
The very first thing is to understand this no win, no fee strategy. A lot of people don’t know about it when they meet a personal injury solicitor offering this method of payment. Not only basic knowledge but you need to have deep information about the things in this term.
A no win, no fee strategy works under two types of payment options; CFA and DBA. Both of them are claimant-friendly. Your money is safe under these two litigations.
The conditional fee agreement is between a client and the lawyer that propose that the fee of the solicitor is only payable to him if the case is successful. The fee is conditional and should be paid by the claimant.
The damages-based agreement is between the claimant and the lawyer where the fee of the solicitor is payable as a fixed percentage from the successful amount of the claim compensation. The final fee of the solicitor is calculated by the referral amount from the accident insurance reimbursement.
Benefits of Having a No Win, No Fee Solicitor
Both the claimant and the lawyer get benefited by this term. As the legal aids are not available for personal injury claims, the solicitor takes all the financial risk and take the case only if he has confidence about the success of the case. All the cost of court trials and investigations in personal injury claims are carried by the solicitor himself. The claimant is completely safe from all this cost and the process.
Because of the risk of losing all that cost expense if the case is unsuccessful, the firms take a lot of time to consider and evaluate if the case is worthy enough to take the risk or not. So, if the personal injury claim case is taken by a no win, no fee solicitor, it is to be sure the lawyer has a strong faith in it and it is going to be successful.
A Solicitor Who Can Help
A no win no fee solicitor is a safe option for both client and the lawyer. A personal injury or injury at work claim case is a something that rewards a big compensation if successful and a lawyer takes a complex medical case without evaluation because he knows that the return will be interesting.
Risks in No Win, No Fee Personal Injury Claim
There are potential risks as well to be taken care of. Sometimes the law firms start the case proceeding without a proper evaluation. They charge a 100% success fee and 25% of the damage recovery amount in a road traffic accident. Because of the wrong interpretations, they lose the case and face a big loss.
Sometimes the claimant applies for the funds from ATE (After the Event) for the cost of the case proceedings but if the case is unsuccessful and the other party doesn’t have the funds, then the claimants have to pay all the cost from their pocket.