When considering the financial costs of bringing a claim you need to think about 3 elements.
(1) Your Legal Fees
(2) Your Disbursements
(3) Defendant's legal fees
But do not worry, we have the funding options to keep you protected!
Most of our client's make use of our 'No Win, No Fee' policy, but we must let you know all the funding options available so you make the best choice for you.
You have the choice to simply pay us for our time on an hourly basis.
If your claim is successful, you can seek recover your incurred legal expenses from the losing party. The benefit of this method of funding, is that if your claim is successful you will keep 100% of your damages.
The risk of this funding method is that, you would pay your legal fees as you went a long and if your claim lost, you would be liable for our fees and essentially out of pocket.
Most client's do not opt to fund a claim privately because of the risk involved if the claim goes wrong.
Some client's have the advantage of 'Before the Event Legal Expenses Insurance' (BTE).
This is an insurance policy you have before you have a legal problem and is often an 'add on' to other polices such as car insurance or home insurance. Package bank accounts often have this as a benefit as well.
If you have the benefit of such a policy, this is best way to fund your claim and it does not affect the main policy premium it is attached to, should you use it.
If the BTE agrees to fund your claim it will cover you for you own legal fees, own disbursements and your opponents legal fees.
The benefit of this funding method, is that if your claim is successful you will keep 100% of your damages because there is no risk involved.
This is the option most client's use if they do not have the benefit of Before the Event Legal Expense Insurance and because most client's do not want to risk paying privately.
So what is a ‘No Win, No Fee’ Agreement with After the Event Legal Insurance?
A No Win, No Fee agreement (also known as a Conditional Fee Agreement or CFA) is an arrangement between you and Liver Law which means that if your compensation claim is not successful, you do not owe us for the work that we done.
The additional of an After the Event Legal Expense Insurance (ATE) policy covers you against the risk of incurred disbursement and your opponents legal costs.
A ‘No Win, No Fee’ agreement with After The Event Legal Expense Insurance gives you security and peace of mind when making a personal injury claim.
We will assess the prospects of winning your case with the information provided by you (this helps us determine its likely success rate), review all the funding options available to you and consider if you are best supported with a ‘No Win, No Fee’ agreement with After The Event Legal Expense Insurance.
What happens if I lose?
If we are able to offer you a ‘No Win No Fee’ agreement for your case and you decide to accept that offer, you can be reassured that you will not be responsible for our legal charges if your claim is unsuccessful and the ATE policy covers you for your incurred disbursements and any liability for your opponents legal fees (unless you have misled us or provided false information).
Effectively, lose and you are not 'out of pocket', which is often the main concern when our client's make first contact.
What happens if I win?
If you win your claim, you can recover your base legal costs from the losing party and reasonably incurred disbursements.
BUT if your claim is funded by a 'No Win No Fee Agreement' & your claim is successful then we will charge you a 'success fee' in addition to the base charges and you are also liable for the cost of the ATE premium. This 'success fee' is limited to & capped at 25% of your general damages and past losses (including VAT). The ATE premium cost will depend on the nature of your claim.
Both the 'success fee' and ATE premium are risk assessed and proportionately charged for the risk involved in funding a claim on this basis, i.e. if the claim loses, we do not get paid and your insurer would pick the 'bill' up for any disbursements and opponents legal fees, if any. The 'success fee' and 'ATE' cannot be recovered as part of your claim by law.