Most accident claim solicitors will offer to deal with your road accident claim on a no win no fee basis.
This is designed to protect the client and to enable the client’s solicitors to recover the costs of handling your claim from the third party without you having to pay up front.
Costs are incurred by both the claimant’s and the defendant’s solicitors. If you win your case the defendant has to pay the costs charged by the defendant solicitors and the claimant’s solicitors, plus any incidental expenses and the Court fees. If the defendant wins, these costs have to be paid by the claimant.
The claimant solicitor will ask the client to enter into a conditional fee agreement which protects the client from having to pay the claim solicitor’s costs, unless the claim is successful when the costs are recovered directly from the third party. If the claimant’s solicitors have to commence legal proceedings against the defendant, the solicitor will obtain “after the event insurance” for the client. This insures the client against any possibility of a claim for costs by the defendant, and the premium is also covered by the policy so the client incurs no risk of loss.
The claimant’s solicitor will consider the prospects of success at each stage and discuss the options with the client. It is also possible that the solicitors will recommend making an offer to settle if they consider that Court proceedings should be avoided.
In any event the important principle of no win no fee is that the claimant client should not be exposed to any financial risk as a result of making the claim, and that the costs of the claim are financed on the claimants behalf.
For further information and to discuss your claim, please call Vamco or email contact details.