The legal world is filled with terms you may never come across in your normal life. The good news is you don’t need a law degree to understand them.
In this article, we hope to break down “No Win No Fee” in easy to understand terms. You’ve probably heard this term thrown around during countless television commercials. Just what it means seems murky at best to some people. That won’t be the case for you after reading this article.
The concept behind No Win No Fee is quite simple. You pay nothing if your case is lost. How does your lawyer get paid if they lose? They don’t – that’s why it is in their best interest to win. No legal team can withstand a never-ending losing streak.
Now, obviously, this is dependent on the exact terms of your retainer with your lawyer. Some firms will still require you to pay the costs they incur during your matter (this is things like medical reports), others won’t charge you for anything at all.
What happens if you win your case? This is when you’ll have to pay up. Keep in mind that you’re probably not going to have to pay out of your own pocket. The payment will most likely come directly from your settlement. How much will you have to pay? This depends on the agreement between you and your lawyer. This should always be in writing and you should be required to accept it before your lawyer starts work. This protects both you and your lawyer in the event of a dispute and means that everyone understands their rights and obligations throughout the matter.
No Win No Fee isn’t available in all circumstances or at all law firms. Lawyers are careful to only take on cases where they believe they can win. If they aren’t certain of the outcome, a firm may still take on your matter but they will do so under another type of fee arrangement rather than on a No Win No Fee basis. This is a matter for negotiation between you and your lawyer.
Hopefully this has cleared up any misconceptions that you’ve had about No Win No Fee cases.
With No Win No Fee options available, you don’t need to do this alone. Not when there’s help available. Remember, this won’t cost you a cent. If the case is lost, you lose nothing. Don’t go this alone. The companies have lawyers in their corner and so should you.