Not all “No Win No Fee” agreements are the same, here are some tips and advice on what to look out for and how to compare these types of No Win No Fee agreements.
1. Always read the small print.
Read the small print and be absolutely clear what you are agreeing to before you sign a ‘No Win Fee’ Agreement.
2. Check out what the cost is to you if your No Win No Fee compensation claim is unsuccessful.
The essence of every ‘No Win No Fee’ compensation claims agreement is that should your case be unsuccessful you will not be required to pay any lawyers fees. Many No Win No Fee agreements however have hidden costs or serious stings in their tails. Redress No Strings, No Catches - 100% No Win No Fee
3. Are you required to pay any costs or outlays?
Some agreements will provide that while in the event of your compensation claim being unsuccessful you will not be required to pay any lawyers fees, but you will still be required to pay the outlays incurred running the compensation claim. These outlays will include court dues, the cost of recovering multiple medical records and often more than one medical report. They will often include the cost of an engineer and other expert reports.
The cost of these outlays will always be extremely large and can often amount to more than the lawyers’ fees.
4. Do they take a percentage of your compensation claim?
Check the No Win No Fee Agreement to ensure that if you win your compensation claim you will not be required to pay a high percentage of your compensation or damages to the Claims Company or Solicitor.
However, although it is common to see compensation claims companies making deductions of 20%, 30% and even 40% from your compensation, at Redress our No Win No Fee solicitors promise our fee will never go above 10% of your compensation, that is even with the most difficult, costly and risky compensation claim.