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Information Regarding Conditional Fee Agreements
Conditional Fee Agreements have been in place since 1995 but when they were first introduced they only covered a limited number of cases until it was extended in 1998 to cover all civil cases, with the exception of family proceeding.
The introduction of the conditional fee agreements has meant that thousands of people can make claims that they previously couldnít afford. This is because the introduction of conditional fee agreements replaced legal aid and made it possible for anyone to put in a claim for compensation regardless of their social status or how much money they have.
The term is the technical and legal term for no win no fee claims and every personal injury solicitor offers you the no win no fee agreements. By arranging a no win no fee claim you keep 100% of the compensation that you are awarded with your fees being paid by the losing partyís insurance company. If you win your compensation claim based on a no win no fee agreement you really donít have any fees to pay and all of the compensation that you are awarded really is yours to keep. If however you lose your case you will be liable for the wining parties solicitors fees but your personal injury lawyer team should take out an insurance policy that is used to cover the cost of the wining partyís solicitorís fees. You will not be responsible for the cost of this insurance policy.
So just who can apply to claim for compensation based on a no win no fee claim? Basically if you have been injured in the last three years due to an accident that should have been avoided that was caused through no fault of your own and that has left you with personal injury then you have a good chance at a successful compensation claim. If you have been injured due to the negligence of another driver or an uneven paving slab or maybe you were given faulty equipment at work; whatever your situation, if someone was at fault then get in touch with a personal injury lawyer today.
When you contact a personal injury solicitor your case will be thoroughly assed and the merits of it will be looked at closely. Every personal injury case is different and that is exactly how they should be dealt with is as individual cases. Once your case has been evaluated you will be told a likely outcome.
Once your case has been assessed and you have been told whether or not you have a likely chance of winning you will be asked to sign a no win no fee agreement (conditional fee agreement) it is highly important that before you sign anything that you read the agreement thoroughly to ensure that you understand everything that is being asked of you. If when you are reading through the agreement there are any aspects that you do not understand you should speak to your personal injury solicitor and get them to explain everything that is meant. This is really important because once you have signed the agreement the only way that you can drop the case if your personal injury solicitor agrees, or if you agree to pay them their fees.
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