No Win No Fee Claims Rising

In the last 10 years personal injury adverts have been attacking us from every angle. We all get cold calls about it; we see adverts on the television and banners on every other internet page. We have all heard the terms ‘no win no fee’ and ‘accident at work’, the reason for this is that the law firms have found a niche that wasn’t previously being used.

That’s why they offer the ‘no win no fee’ because so many of these cases are won. The main reason is that  many of the major corporations do not bother to show up in court for such cases as the cost of settling is actually inferior to that of paying a lawyer for a couple of days.

The lawyers’ fees in most cases are pre agreed on. So in the case that the alleged victim wins the court case a percentage of his winnings are passed on to the lawyer.  Of course the percentage decided on can is affected by many factors such as: complexity of the case, chances of winning, the experience of the chosen lawyer and of course the cost that the case incurs. These pre-arranged fees are known as contingency fees.

Although it seems that the law firm is taking all the risk in these cases there are apparent benefits for both the clients and the firm.

CLIENT: The client might not have had the start-up capital to go to court in the first place so why should he care if he gets charged a little more and given an inexperienced lawyer as long as he gets a chance to win the case. If the case had of never gone to court the victim may not have been able to support his family as the injury might have resulted in time off work.

LAW FIRM: The reason why the law firms are keen to take on all the risk is for more than one reason. Firstly they get the opportunity to train up new lawyers, maybe just out of law school, and they are unwilling to throw them in the deep end in a high profile case. Also the ‘no win no fee’ method is used by law firms to drum up customers they might have never gained this gives both the clients what they want and drums up business for the law firm.

The point that must be stressed is that both parties are aiming for mutual harmony, even though everyone is in it for their own gain. As long as a fair and watertight contract is agreed upon before any proceedings take place both parties can, and often do, come out on top.

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Image attribution: WalknBoston (Flickr)

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