No win-no fee contracts are known as contingent fee agreements (CFA). In this deal, a client only pays the lawyer’s legal fees if they win a case, especially for personal injury claims. Many lawyers conduct a thorough evaluation of a case before they accept it.
Most no win-no fee lawyers in Townsville handle cases with a 60% possibility of success. The solicitor bears all the risks and costs of your claim. They stand to lose a significant amount of cash should your claim be unsuccessful. Here are some ways these services could benefit you.
It Requires No Upfront Fees
One of the main barriers to a legal case is the money it would cost you. With a CFA however, the plaintiff pays no legal fees until the claim is won. This opens the door for people who need to claim compensation but have no fees to pay.
Your Lawyer Has a Strong Incentive to Win
A CFA provides one of the best incentives for a lawyer to win your case. You can be sure they will work extra hard to ensure that they will get their share in the end. The monetary gain when you win your case pushes your attorney to get the maximum compensation.
You Will Not Be Duped
Compensation claims require diligence. Some lawyers may not give you the kind of defence you need, but in a CFA, you are sure to work with a team of honest lawyers committed to your interests.
From your total compensation, you will pay your attorney’s fees and a “success fee”. The success fee can be 100% of your lawyer’s expense, but in personal injury claims, it is capped at 25% of your damages. The meaning of a successful claim depends on the wording of your CFA.
For many people who may not have enough money to pay a lawyer immediately, a CFA is a good alternative so they could pursue a case and receive the proper compensation they deserve.