Conditional Fee Agreement – No win No FeeIt is a very stressful situation when you have an accident. This can be a minor to a serious accident. Each type will have effects on your life. A minor accident can lead to shock, embarrassment and minor inconvenience. A serious accident can not only have long term physical consequences but can affect your mental well being and lead to serious complications to your health or your daily routine and life. Serious accidents can have a negative effect on your family and friends. It can lead to time off work and this in itself is a stressful situation, if perhaps you are off work and unable to earn money and meet your usual financial obligations. As no win no fee specialists, Accident Compensation Aid understand and sympathise with the human everyday effects accidents can have on your life and work hard on a no win no fee basis to provide you with a quick and efficient service. Our no win no fee guarantee provides you with peace of mind that you will not have to pay any money to succeed with your claim. Your solicitor will ask you to sign a Conditional Fee Agreement (CFA) in order that they can act for you under a no win no fee basis. These agreements can be daunting for clients. Here at Accident Compensation Aid both us and the solicitors will try to explain the best we possibly can to explain the procedures to you. Many clients looking at the documentation seem confused as to why when we are guaranteeing them that they will pay nothing win or lose they are signing an agreement which would appear to make them liable. The reason being is that without this agreement they would not receive any of their fees. In looking at no win no fee solicitors have to comply with the regulations of CFA if they fail to do so not only is there no fees for cases they lose but they cannot recover their costs for the cases they win under no win no fee. The solicitor has to carry out standard checks before advising the client and deciding whether to accept instructions. They have to enquire about the clients or his or her partners insurance cover they have to ascertain whether they have any legal insurance they cannot accept a clients statement that they have no before the event insurance. If insurance documents are found solicitors have to look at the policies to see if they are sufficient for their purposes. There are many factors that they have to look at, these include if the type and level of cover is sufficient for a dispute, does it cover both sides costs, is there any reasons why the LEI policy might not be suitable for your clients claim, has your client complied with the conditions of the policy, i.e is there a time limit for notifying a claim. When a solicitor has carried out all the checks, he must then make it clear to his client when taking on the no win no fee case whether his insurance policy is sufficient. If his LEI policy is not sufficient the solicitor must advise the client that he will need to obtain after the event insurance. Some claims management companies ask their clients to take out loans to cover the cost of the insurance. Here at Accident Compensation Aid the solicitor himself buys the policy. At no time will a client be asked to purchase or take out a loan to cover the cost. |
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