What can I expect from my accident compensation award?
Let’s assume you have won the case, the final net amount of your accident compensation award depends on several factors.
Firms of solicitors all vary in what they charge, just the same as any other industry. You have to balance the cost considerations with the quality and level of service you seek. Shop around.
“Success fees” are usually negotiable. A success fee is the amount, usually expressed as a percentage, which is a component of the legal fees of the winning side. Again, it pays to discuss it in advance to be absolutely clear what you will have to pay. Changes in the law on accident compensation award rules coming into force in April 2013, affect this particular payment. Do your homework in advance.
The costs of “the other side”
Traditionally, the losing side paid the legal fees of the winning side. However, this arrangement is also affected by the legislation because deductions from the success fee could be interpreted as a portion of these costs coming out of the accident compensation award of the winning side. However, in some instances it is possible to take insurance to cover losing side costs and a solicitor will advise on this before starting the claim
Be aware of other costs that might apply
In the majority of cases, the accident compensation claim is settled out of court, usually by phone or electronic communication. However, if the case does go to court, there will be court fees. In every accident compensation claim, an independent medical examination fee will apply and in some cases, the compensation provider will charge a referral fee for introducing the claimant to a legal firm or solicitor.
How long will I wait for my money?
Under normal circumstances, once the legal representative has received the funds, they will pay them over promptly, so you shouldn’t have to wait too long.
Accident Advice Helpline is one of the UK’s leading accident compensation claim specialists and can help you with the information needed to start your claim.
Date Published: March 7, 2013
Author: David Brown