No Win No Fee
"No Win No Fee" is a term used to describe a "Conditional Fee Agreement". It is an agreement that is set out by a personal injury lawyer where he or she agrees to work for you for no fee. Once you sign a "no win no fee" agreement or "conditional fee agreement" your lawyer will not ask for any fees, nor will you have to pay any.
No Win No Fee - Means no cost to you making an Accident Claim
This might sound almost too good to be true as no lawyer will work for nothing. What happens is once the claim is successful your lawyer will reclaim their fees and costs from the loosing party. If they loose the case they will not get paid. However there are some insurance which can be taken out so the lawyer doesn't loose out. Most accident claim lawyers won't take on a case unless they are 99% sure of winning.
Although you will not have to pay any legal fees to your lawyer you may have to pay for disbursements. Disbursements are expenses such as doctor's fees, medical records or witness charges. A lot of accident claim layers will defer payment of these fees and not request these expenses up front. Once the case is won the losing party will have to pay for these disbursements. In the event that the case loses then "after the event" insurance will pay for any disbursements. This insurance is what covers the solicitors' fees in the event of losing the claims.
The beauty of the "No Win No Fee" system is that it means everyone is eligible to claim for injuries caused by an accident that was not your fault. In the past, before 2000, to make a claim for compensation you could apply for Legal Aid or Public Funding to help you, but only if your income was below a certain level. Those on higher incomes would not qualify for Legal Aid, so would have to fund the legal case themselves. This put a lot of people off as lawyers are not known to be cheap. These days anyone that wishes to pursue an accident claim can do so without the worry of the cost of legal fees. This agreement has been very successful in providing compensation for innocent accident victims.
Beside the obvious benefit of not having to pay for your lawyers services - whether you win or lose - the biggest benefit of appointing a "no win no fee" accident specialist lawyer is the fact that you will receive personal injury compensation you are entitled to. In other words none of this compensation will be eaten up in legal fees. Your full compensation award will go to you for whatever you want to use it for, as at the end of the day the money is for compensating you for the personal injury YOU suffered.