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Victims of any accident or mishap lead a traumatic and stressful life. The individuals have to deal with physical, physiological and economical losses. Although if any individual has endured any injury or damage because of someone else’s negligence, he has the legal rights to file a compensation claim, yet he deters from doing it because they don’t want any added mental stress and financial loss. But, with the advent of ‘no win no fee’ system, more and more plaintiffs have come forward and fought for their rights. However, if you have also decided to go for this agreement, first know everything about it and then make a decision. If you have decided to take a legal step against the faulty party then you would have definitely heard about the no win no fee system. Also, known as the ‘contingent fee agreement’, the most common misconception about is that it means no win no cost. However, that is not true. There is no denying that a lot of people find the entire claim process very confusing and as expected do not understand this authorized jargon is used for various forms of accident claiming. Many people have a lot of misapprehensions and the wrong idea about the whole agreement and hence it also influences the probability of filing a successful personal injury. If you are also filing a claim under the ‘contingent fee’ agreement, understand the little details, which will help you in the legal process and filing a strong claim. This system came into existence in 1995, with an aim to reduce the financial burden on the plaintiffs and to make the legal system and courts for everyone’s access. Contingent or conditional fee agreement is an accord between a client and their attorney. Under this pact if you lose the claim, then the lawyer cannot charge any fee. However, if you win assert, then the attorney not only gets his fees, but also a success fees or bonus. Making sure that you are awarded 100% compensation after your win, your solicitor’s fees and his bonus is borne by the opposing party. Along with the solicitor’s fees, all other expenses, which include medical bills or court fees, are also paid by the losing party. In the event of your loosing the claim, you might be legally responsible and accountable for the costs of the opposing party. These costs are not restricted to the court’s fees and attorneys charges. The only relief is that under the contingent fee pact your attorney will arrange for an ‘after insurance’ policy even before filing a claim. This insurance policy covers your risk in losing your case. An expert and proficient attorney will endow you with all this information. However, if he doesn’t ensure that you ask about all the details, so as to avoid any confusion and chaos at the later stage of the legal process. The fact is that ‘no win no fee’ plainly and factually means that if your compensation claim is unsuccessful and futile, then you will not have to shell out any money from your pocket for the fees. But, remember that fees is not the only thing you might have to pay in a claim, so understand all the details and then make the final move. For more information on: No Win No Fee Get more information on: Injury Lawyers
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