The majority of our cases are funded through a Conditional Fee Agreement, which is more commonly known as a "no win no fee" agreement.
A "no win no fee" agreement basically does what it says on the tin. If you win your case, you receive your compensation, and our fees are paid by the defendant’s liability insurers. If you lose your case, then there are no fees to pay and therefore no financial risk to you.
The "no win no fee" agreement is very popular with our clients because it represents a no risk way of funding what can be long and complicated legal cases. There is no requirement to raise any capital or pay for any of the costs of bringing your case. In many cases, we can get interim payments from the liability insurer to start funding specialist rehabilitation even before your case has been concluded.
Changes to Personal Injury Law
The law changed in April 2013 with new legislation commonly referred to as the Jackson Reforms, relating to how "no win no fee" agreements operate. You can find out more about how the Jackson Reforms have affected personal injury law by clicking here.
In short, the Jackson Reforms have made the "no win no fee" concept a lot more complicated and they have increased the exposure to risk for both the claimant and the lawyer.
Most law firms will now look to claim a proportion of their fees from the compensation award that is awarded to you, the claimant.
Other Funding Options
Of course, there are other ways of funding a case, apart from "no win no fee". When we meet for the first time, we will review these options with you. For example, you might have an insurance policy in place which will provide legal expenses insurance to fund your case. We will review any necessary insurance documentation for you to see if any such policies exist.
If you are a member of a trade union or another organised body, you may also be entitled to legal funding.
We will discuss all funding options with you during our initial meetings, which are always free. We'll make sure that you understand and are comfortable with whichever funding option you choose.
For a free and no obligation discussion, please contact a member of our team on 0800 03020 40 or email us at email@example.com.