No Win No Fee – What does it mean?

No Win No Fee – What does it mean?

Published on 3 March 2023
Last updated on 2 February 2024

1. Introduction

Ascent Lawyers offers a No Win No Fee agreement, ensuring that clients only pay if they receive compensation. We also operate under the 50/50 rule, a simple formula that ensures clients receive a fair and reasonable amount of compensation while taking into account legal expenses. Additionally, we do not charge an uplift fee, and if a client’s claim is unsuccessful, they do not need to pay anything, including disbursements. The article explains how these agreements work, providing transparency and peace of mind to clients.

 

‘No Win No Fee” – What does it mean?

 

2. What is a No Win No Fee cost agreement?

In a nutshell, our No Win No Fee agreement means that you only pay us if you receive compensation.

This arrangement ensures that you have fair and equal access to justice without having to worry about the costs involved.

You will have a dedicated compensation lawyer who is fully invested in your case, and we will take on the matter so that you can focus on important matters.

This way, you can pursue your legal rights with confidence, knowing that your financial position is not a barrier to justice.

If you choose to engage us, we will explain our cost agreement in detail!

 

2.1 The 50/50 Rule

Every matter is different and unique. Due to the claimant’s personal circumstances and or the accident itself, every matter is run differently and requires different levels of expertise. Another consideration is the attitude of the responsible party, they might place roadblocks and make the matter more challenging. All of these factors mean all personal injury lawyers charge by the hour.

However, it’s important to note that Queensland law has your best interests in mind by imposing a maximum limit on the professional fees and uplift fees that can be charged by No Win No Fee lawyers. Furthermore, law firms are prohibited from charging a fixed percentage of your compensation claim amount. This provides you with peace of mind and ensures that you receive a fair and reasonable amount of compensation that takes into account your legal expenses.

At Ascent lawyers, our 50/50 rule is a cap on our legal fees. It only applies where our legal fee is higher than your net compensation.  Our 50/50 rule is simple and is only applicable to personal injury claims (CTP Claims, WorkCover Claims or Public Liability Claims). The formula is very simple:

(Total Compensation Amount – Disbursements* – Statutory Refund*) x 0.5 = Your net recovery = Our legal fee

*Disbursements refer to payments made to third parties, such as admin fees for medical records or fees paid for an independent medical examination report.

* Statutory Refund refers to the refunds that must be paid to statutory bodies like Medicare and Centrelink if you received benefits from them during your claim

 

2.2 Uplift Fee

In Queensland, law firms are permitted by law to apply an uplift fee of up to 25% on client agreements. However, it’s important to note that the 25% uplift is the maximum that can be charged. While some firms choose to apply the full 25% uplift, it’s not a requirement. It’s worth keeping in mind that this fee is charged in addition to any legal fees that may be incurred at the end of your claim.

At our law firm, we understand that legal fees can be a source of stress and uncertainty for clients. That’s why we strive to be transparent and fair with our pricing. Unlike some firms, we never charge an ‘Uplift’ Fee.

At our firm, we believe in charging only for the work we do, and we are confident in taking in your claim. We are specialized in compensation law and confident in our ability to provide sound advice to our clients who engage us on a No Win No Fee basis. That’s why we don’t charge any uplift fees.

At the onset of your claim, we are fully transparent about our legal fees. When you sign our client agreement, we clearly state our costs, so you are fully aware of what to expect from the beginning. We strive to ensure that you have a clear understanding of the claims process before we commence any work. Our commitment is to avoid any unexpected surprises at the conclusion of your claim. This is our promise to you.

Our confidence in our abilities as legal experts means we do not need to add extra fees to your claim. This approach ultimately means you will have less legal costs and more compensation in your pocket at the end of your case.

If you have any questions about uplift fees, please contact one of our experienced solicitors at any time.

 

2.3 What if you lose?

You might be wondering, what if your claim was unsuccessful, what fees will you need to pay?

Not all law firms are the same, this means not all cost agreements are the same. If the claim is unsuccessful, most agreements will state that you will not need to pay legal fees or professional fees. But some agreements will require you to pay back the disbursements!

Imagine this, your claim was not successful, you did not get a settlement offer. You did not need to pay any legal fees, but you still need to pay a couple of thousands in disbursements to your lawyer for the specialist reports and other expenses. This is not fair!

At Ascent Lawyers, if your claim is unsuccessful, you do not need to pay us anything! You do not need to pay any disbursement or legal fees if your claim was successful.

As a client, you can rest assured that there is no risk on your part. Our fees will only be payable once your settlement money has been received, so you won’t face any financial pressure during the process. Our compensation lawyer will provide you with guidance and support from the outset, so you don’t need to worry about a thing – simply cooperate with us and we’ll take care of the rest.

If, after assessing your case, we determine that there’s little chance of success, we’ll be upfront and let you know. This is because we have a legal obligation to act in your best interests, and if your claim is unsuccessful, we’re responsible for all costs. We always perform case assessments before we take on cases, which means if we are agreeable to take on your case, you should not be concerned about whether you can get compensation.

In short, you can trust us to provide the expert legal representation you need without any financial risk to you. Our commitment to our clients’ interests is paramount, and we’ll always act in your best interests.

 

3. Why Ascent Lawyers is your best option!

At Ascent Lawyers, one of the leading Queensland-based personal injury law firm, we emphasize the importance of engaging a competent and experienced lawyer to handle compensation claims. We provide a No Win No Fee agreement that enables clients to pursue their legal rights with confidence. We adhere to the 50/50 rule. We also do not charge an uplift fee and do not require clients to pay back disbursements if the claim is unsuccessful.

If you have any doubts, please hear what our previous clients have to say about their experience at Ascent Lawyers.

Disclaimer: Ascent Lawyers owns all copyright in the text. This article is of a general nature and should not be regarded as legal advice or relied on for assistance in any particular circumstance or emergency situation. To obtain legal advice in relation to your own circumstances, please contact us for consultation.

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