If you are going to make a 3rd or 4th degree tear claim, it is very likely that you will enter into a no win no fee agreement with your solicitor. But what does no win no fee actually mean?
No win no fee claims
There are various ways in which a medical negligence claim can be funded, with perhaps the most popular being a no win no fee agreement.
A no win no fee agreement is a contract you enter into with your solicitor. Technically they are called Conditional Fee Agreements (CFAs), and they were first introduced in 1995 to enable access to justice.
You will be able to enter into a no win no fee agreement with your solicitor as long as you have no other means of funding the claim. For example, if you have legal expenses insurance as part of your home insurance policy, you can use this to fund the claim.
Do I have to pay any money?
No win no fee agreements means that you do not have to pay any money if you lose your claim. This is because under the terms of the contract, your solicitor will not get paid if the case is unsuccessful.
Technically you will be liable to pay the other sides costs if you lose. In reality, however, you will not have to do so because your solicitor will have insured your case at the outset. This is called After the Event (ATE) insurance and it will cover any costs that you incur.
If you win your case, your solicitor will be able to recover their own costs from the other side (called the Defendant). Your solicitor will also be entitled to recover a success fee. Previously this was also paid by the other side. But since April 2013, changes to the law mean that success fees must now be deduced from a Claimant’s compensation settlement. Nevertheless, the success fee is capped at 25% of the damages awarded, so 75% of your settlement is completely protected.
Therefore if you lose your claim, you will not have to pay any money. If you win your claim, you may have to contribute towards your solicitor’s success fee. This will be deduced straight from your compensation settlement and will be limited to 25% of the damages awarded.
Want to know more?
If you would like to know more about the costs involved in a medical negligence claim, please get in touch with us today to chat to a solicitor.