No win no fee is a type of claim that allows you to pay the legal charges of your solicitor only when you win the case. This type of claim has emerged in 1998 when Conditional Fee Agreement was brought into consideration. No win no fee has become gained a lot of popularity and most of the people who are now claiming their personal injury compensation opt for this type of agreement. A CFA - Conditional Fee Agreement is a contract entered into by the solicitor and the claimant and contains the conditions of the agreement agreed upon by both solicitor and the claimant.
The name itself suggests the main characteristic of no win no fee based claim. You pay the fee only if you win. So if you do not win the claim, you are not bound to pay any legal charges. Another point to be considered is that if a person wins full compensation, then he will get the complete amount without any deductions. The solicitor's charges will be recovered from the other party. The amount received under No win no fee claims mostly help with the medical treatment expenditure, the earnings that the injured could have made during these days had he not met with the accident, expenses incurred for repairs to the vehicle etc. And let me tell you that no win no fee claims are mostly used for personal injury claims such as road accident injury or injury incurred during the working hours in the working premises, etc.
Now if you are a resident of UK and if you have met with an accident within the last 3 months, go to your nearest solicitor right away or consult an accident claims company. It is time for you to claim your compensation for the injuries you have suffered. Give them all the details about your injury so that they can decide whether to get through the entire process of the claim and also tell you what the outcome of your claim can possibly be.
An advantage of no win no fee based claims is that they do not usually go to the court. Hence, you do not have to go through the long procedures of it and waste your time. It is mostly settled by both the parties sitting together and discussing the damages caused and the liabilities incurred. They come to an agreement that is acceptable to both the parties and once the agreement is made, the compensation is received immediately. The reason for such immediate action is that none of the two parties are ready to go to the court and hence try to solve the matter before hand.
Statistics reveal that due to accidents and other personal injuries, about 25 million people suffer from loss of income and change in living habits. Claiming accident compensation is a right that has been recognized as legal and every person because of whom the other suffers should realize his mistake and pay for it. This would at least lead to awareness among the public about the consequences of committing such mistakes.