No win no fee* in Cornhill on Tweed
Say that a decent 100% no win no fee* Cornhill on Tweed solicitor was to win you a pretty good compensation pay-out after you were unfortunate enough to suffer an injury in an accident that was not your fault. Have you thought about what you would do with the money you won? If not, it won’t hurt for you to spend some time doing just that. There may be a few considerations that you haven’t thought of.
After winning a no win no fee* Cornhill on Tweed claim
The first thing you’ll need to do after a good 100% no win no fee* Cornhill on Tweed solicitor wins you a compensation pay-out after you suffered an injury as the result of an accident that was not your fault is assess as to whether you need to use the money to repay any debts you’ve incurred while convalescing from your injuries.
In the first instance, find out if you’ll be required to repay any benefits you claimed while you were waiting for your pay-out. If you’re awarded money to pay for things that you’ve already claimed benefits for, you may be required to pay some money back to the government. As the consequences for not paying back money to the state can be severe, you should contact the body that awards your benefits payments to find out where you stand. If in doubt, check. You won’t want to face a large fine, or even a stretch in prison, after being convicted for benefit fraud.
You’ll also need to alert any creditors you have payment arrangements with. If you don’t, you may have your arrangements terminated and be asked to repay what you owe in full. You’ll also need to touch base with the official receiver if you’re an undischarged bankrupt. Again, failure to do so could result in a fine or prison, so it’s not worth burying your head in the sand and ducking your responsibilities.
Once you’ve checked out all of this, you’ll be free to spend your money as you please, as long as you don’t have any other commitments you’re bound to meet. As the money your 100% no win no fee* Cornhill on Tweed solicitor wins you will be tax-free, the whole pay-out will be yours to do as you please with. You can either invest it, or treat yourself; the choice is yours.
Get some help
If you’ve yet to launch a personal injury case after suffering an injury in an accident that was not your fault, get in touch with Accident Advice Helpline on one of the above numbers.
Date Published: 8th February 2014
Author: David Brown