Just hearing the word “lawyer” and our minds are suddenly filled with the thought of money. We have already associated it with the word “costly” that we dread the time we would be needing the service of one because we are sure it would burn a hole in our pocket.
But have you heard of the term “conditional fee agreement”? If you have not yet heard of it, perhaps now is the time to know all about it if and when you ever needed to get into one with a lawyer.
What Is A Conditional Fee Agreement?
Simply put, a conditional fee agreement is an agreement you have with a lawyer that if and when the case is not successful, you do not have to pay any fees. This no win no fee scenario is usually applied in injury claims, compensation claims and or disability claims. If you are looking for a lawyer because of these reasons, approach one that is open and willing to accept a conditional fee agreement with you. You would not have a hard time looking for one since most lawyers specializing in compensation practice this with their clients.
Why You Should Consider A Conditional Fee Agreement?
There are numerous reasons why you should consider a conditional fee agreement. First off, you would have instant access to legal advice even if you do not have the money for one. This is especially important for compensation claims because there could be no delay when you are in the midst of trying to petition for indemnity. Preparing for a case would also take time and your lawyer would need all the time available to ensure that they are able to present a winning case.
Lawyers who also agreed to this arrangement are more motivated to win your case because by then, they would also get compensated. It is a mutually beneficial agreement. When you go visit a lawyer for a conditional fee agreement, they would be up straight with your chances compared to other lawyers who charge consultation fees since they are earning money whenever you come and visit them for legal advice.
At least with these lawyers who would only get paid after you won the case, they would give you genuine legal advice from the beginning and if they don’t believe they could win you the case, they are likely not to take it which means you are informed of your changes from the beginning.
Who Is Eligible For This Kind Of Agreement?
Anyone is entitled to this kind of agreement, no matter your financial situation is. There are no factors or requirements to be met although normally the lawyer might ask you to furnish some documents that are relevant to your case.
There are still those who are hesitant regarding this arrangement but in actuality, it is less risky and the percentage of winning is quite high. When you win the case, you need to pay the lawyer for their services and when you lose, there is no need for you to pay them anything which means your stress regarding financial expenses is lessened.