Advantages and Disadvantages Of The No Win No Fee Service
No win no fee is a commonly used phrase in adverts related to personal injury claims. But, what does the term implies and what are the advantages and disadvantages of such a service?
The no win no fee was introduced in 1995 so that poor people who were involved in accidents could get access to justice. While it is true that victims of no fault accidents have a legal right to make injury claims, making injury claims comes with its risks. However, with the introduction of the service, the financial risks were minimised or it can be said that the financial risks were eliminated. Before the introduction of the scheme, many people did not consider making injury claims if they were hurt or injured in accidents. The reason is that they were worried about the costs. When the no win no fee service was put in place, this changed the perspective of many. Here is a look at the advantages and disadvantages of this service.
Advantages
This system allows individuals to pursue an injury claim without any financial risks. For example, if you were involved in a road accident, you can start a claim without paying anything to your lawyers. Basically, you don’t pay anything if you don’t win. The system has allowed more and more people to get access to justice. Previously, accident victims would hesitate to take the steps necessary to recover compensation, but with increased awareness about the service, more and more people are able to recover compensation for their losses.
No win no fee claims are usually handled by specialist injury lawyers meaning that you do not have to take the hassle of making a claim on your own. Your injury lawyers will ensure that your claim is started on time and will take all the necessary steps needed to help you recover compensation. The good thing is that they will only represent your claim after a thorough assessment of your claim and if they believe that your claim has good chances of being successful.
Disadvantages
One of the disadvantages is that the no win no fee service has contributed towards a compensation culture.
Another disadvantage is that you will be liable to pay the costs of the other side if you lose your injury claim. But, these costs can usually be recovered by taking out an insurance policy which will help cover the costs in case the claim is lost.
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