No win no fee 25% cap is it any good?

[Yog sothoth]

I had a serious accident last week when a car pulled out of a side road in front of my bike, resulting in multiple injuries to me. The Police are still dealing with it but I have approached a solicitor, on the recommendation of a friend, with a view to a compensation claim.

They have agreed to take the case on a no win no fee basis, with their fee capped at a maximum of 25% of the compensation award.

 

I have no prior experience of this whatsoever, so I have no idea whether this is a normal deal or not. Is it likely they will just take 25% of whatever is settled? Would a better deal be available or should I just go with this one? These are things I need to decide so any help gratefully received.

 

Yours painfully

Yog

[Bombaymix]

I'd have a look around. It was a while ago when I used a claims company on a no win no fee basis.

 

From memory. The entire amount of compensation that was awarded was given to me. The solicitors dealing with it got their fees from the other party... I don't know if it still works like this.

 

Hopefully somebody will be along shortly to advise you further.

[Ganymede]

No it's not like that any more, the government changed the law in April this year.

 

You could look around but I've not seen any solicitors offers to not take anything as they now only get paid a pittance per case.

 

Personally I think it's a disgraceful decision by Chris Grayling and is going to prevent access to justice for people that aren't wealthy.

 

http://www.accesstojusticeactiongroup.co.uk

[renegadeimp]

Go with another one. Plenty of 100% ones out there where the solicitor reclaims their own costs only. Not takes a chunk of your money as well.

[Ganymede]

Go with another one. Plenty of 100% ones out there where the solicitor reclaims their own costs only. Not takes a chunk of your money as well.

 

 

 

Solicitors can no longer reclaim all of their costs from the other side and I'm yet to come across a firm that doesn't take a penny from their client's compensation.

 

Google First Personal Injury, Injury Lawyers 4 You or National Accident Helpline and all of them look to the client for a contribution towards costs.

 

The days of 100% compensation are dead and gone.

[renegadeimp]

Sounds like the conservatives and lib dems are at it again....

[Ganymede]

Sounds like the conservatives and lib dems are at it again....

 

 

Afraid so. Mr Grayling consulted with the insurance industry (but not the legal profession) and decided it was a good idea to reduce the legal fees insurers pay as the insurers promised to pass the saving on and reduce premiums. Can you guess how many insurers have actually done this?!

[renegadeimp]

I hope they dont win the next election... Oh wait, they didnt even win the last. We've already had a certain 'charming' man who convinced Cameron to remove basic rights of workers and keep interest rates uncapped. Let alone the diabolical things he is doing to public services.

[renegadeimp]

Afraid so. Mr Grayling consulted with the insurance industry (but not the legal profession) and decided it was a good idea to reduce the legal fees insurers pay as the insurers promised to pass the saving on and reduce premiums. Can you guess how many insurers have actually done this?!

 

I would say something here, but it could bring cag into trouble.

[Ganymede]

I would say something here, but it could bring cag into trouble.

 

 

 

Get your money on Mr Grayling being "rewarded" with a very lucrative job at one of the big insurers once he is booted out of office at the next election.

[Yog sothoth]

Well the firm I approached are used by National Accident Helpline (it says on their site), What they actually said was the claim would be funded from the proceeds, up to a maximum of 25%, which potentially gives a mighty wide range when I think about it. 25% of £500 is one thing, but if it was £20k would they still take 25%?

[renegadeimp]

Of course they would. Although they say 'up to' meaning on a low amount they would take much less.

 

Also understand that they wont take on a claim unless they are sure it could bring in a significant amount of cash. If it was 500-1000 they probably wouldnt go near it. If it was 20k, theyd be all over it, inventing medical conditions, grovelling at your feet, offering ipads etc.

[Ganymede]

Of course they would. Although they say 'up to' meaning on a low amount they would take much less.

 

Also understand that they wont take on a claim unless they are sure it could bring in a significant amount of cash. If it was 500-1000 they probably wouldnt go near it. If it was 20k, theyd be all over it, inventing medical conditions, grovelling at your feet, offering ipads etc.

 

 

 

The injury claim will have to be at least £1,000.00 otherwise it will be a small claim and not costs bearing so won't be touched.

 

The 25% cap can vary. In a nutshell if the legal costs do not total 25% of the value then they can't take the full 25%.

 

If the applicable legal costs only equal 10% then that's all the solicitors can take.

 

If the claim is complex or high value then it's probably likely the costs will reach 25%.

[renegadeimp]

WHen my mum had an accident in the early 200's, she went with a claim company that was on national tv. ( She saw it during Coronation Street). It took 8 months for the claim to go through and she received notice that she would be getting £8000 but the Company would be taking 20%

[Ganymede]

WHen my mum had an accident in the early 200's, she went with a claim company that was on national tv. ( She saw it during Coronation Street). It took 8 months for the claim to go through and she received notice that she would be getting £8000 but the Company would be taking 20%

 

 

 

Really? That's very surprising unless it was a CICA or an MIB claim.

[renegadeimp]

No idea. ALl i know is she went through a claims company that was on tv. She phoned right after corrie had finished.

[steampowered]

25% sounds pretty reasonable to me, though it is difficult to be specific since the best rate will depend on how risky/difficult the case is and the level of compensation likely to be awarded. Make sure you are also clear about how disbursements such as court fees and fees for expert reports will be funded.

 

Of course feel free to shop around.