You know that no win no fee claims mean less risk and a better chance at compensation. So, what happens when your no win no fee solicitor pulls through and wins your case? The actual results may vary from case to case, but the opposing party is typically responsible for most fees if you win, but you may have to pay your solicitor’s success fee as a percentage of your compensation. However, you will not have to pay any fees upfront.
Actual compensation is dependent upon the no win no fee lawyer you are working with. Remember, no win no fee claims and 100% compensation are two separate concepts. If you do the proper research to find a solicitor that offers both no win no fee and 100% compensation clauses, you will not have to pay your solicitor fees or a portion of your compensation. However, changes in April 2013 to the law which governs no win, no fee claims means that solicitors can no longer claim their success fee from the losing party, so the vast majority of injury lawyers no longer offer 100% compensation agreements. Find out more about 100% compensation.
If your solicitor does not offer a 100% compensation clause, you may be asked to sign a conditional fee agreement. A conditional fee agreement can mean paying up to 25% of your compensation to your solicitor if you win. Although it is ideal to find a solicitor that offers a 100% compensation clause, a conditional fee agreement still means at least 75% compensation for your personal injury.
Summary:
- No win no fee means less risk and a higher level of compensation.
- You don’t have to pay any fees upfront.
- Most solicitors will ask you to sign a conditional fee agreement.
- With a conditional fee agreement, you may need to pay up to 25% of your compensation to your solicitor
