The Truth About No Profit No Claim Fees
Hiring an attorney for your personal injury claim can be expensive up front. Attorneys can claim anywhere from 20% to 75% of legal costs, including documentation and hours invested. “No Profit No Fee” is an option for those who do not have funds or are not covered by an insurance policy. In this type of litigation, the attorney simply does not get paid unless you win the case.
Many reputable attorneys offer this on a no-profit, no-fee basis, and there are no legal fees or hidden costs. If you do win your case, you have to pay your attorney’s fees, and they will be much higher than if you lose your case. However, you should get most of it back from the other side and still be left with most of the compensation you were awarded.
There are some considerations before deciding on a no-profit, no-fee arrangement. For starters, you have to cover the other side’s costs if you lose the case, which can be substantial. You can get what is known as ‘after the event’ insurance which will cover these costs. Many attorneys will ask you to take out this policy before starting your case.
Not everyone will be eligible to take out insurance after the event. If the insurance company thinks you have no chance of winning the case, they will not offer this policy. Same on the lawyer side, they also won’t offer a no win no fee settlement if they think your chances of winning are low.
A large number of lawyers specialize in personal injury claims and are successful in recovering damages. These types of claims range from road traffic accidents, workplace accidents and accidents in public places such as slips and falls. It is to your advantage to seek out a lawyer or personal injury lawyer. Most of them offer a free consultation and familiarize themselves with the presented facts. This is a great time to show any documentation you have, such as police reports, hospital bills, or other related documents, to prove your case. If you try to file a claim yourself, it is unlikely that it will not include all the losses for which you are entitled to be compensated.
Personal injury lawyers are professionals and must follow the law, which is regulated to the highest standards. This means you will have more success with legal counsel than working directly with insurance companies.
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