8 Ideal Benefits of No Win, No Fee Lawyers
In any jurisdiction, the justice system is often not a straightforward affair. That’s why qualified legal personnel come in handy whenever the general public needs services from the courts.
Lawyers have very elaborate ways and terms of how service fees should be paid. Most firms have in-house guidelines. In other cases, governments and other professional bodies have stipulated formulas on how legal should be calculated.
The no win, no fees arrangement is sometimes adopted through an agreement between lawyers and their clients. Let’s look at some of the benefits that come with this kind of plan.
Access to Justice for All
The cost of litigation deters a lot of people from accessing and even getting justice. Some lawyers demand upfront payments, which is a big hindrance for a lot of people. With the no win, no fee plan, clients can have their cases heard and determined without worrying much about the fees. In effect, this allows more people to access legal services, especially those who are financially underprivileged.
In cases of unplanned events such as injuries and accidents, for instance, this arrangement becomes highly favorable since no one sets money aside for such legal occurrences. This plan, therefore, opens up the justice space for more people who would otherwise be locked out
It’s an Incentive for Lawyers
The promise of payments only when the lawyer wins a case is an incentive that pushes them to work harder for a win or a favorable outcome for their client. This plays out more in cases where there is a promise for a significantly high settlement fee applicable. Keeping an eye on the possible positive outcome and a high payment, the no win no fee lawyers are incentivized to have their client gain positively from the litigation.
Litigants are Shielded from Court Stress
The entire court process is generally a stressful process for anyone. It’s also time-consuming and sometimes consumes more than the monetary value attached. When the cost of settling legal fees is based primarily on winning the case, the financial distress at the end of the client is eliminated. They can comfortably follow the process and wait for the outcome.
The litigation process can be a huge burden to any part and the situation is made worse when there is financial distress to deal with
The Fee is A Percentage of the settlement
In cases where the client is entitled to compensation, the no win, no fee arrangement becomes a good option because they will not worry about raising money by private means. Instead, the lawyer’s fees are deducted from the compensation amount. In other words, clients don’t have to dig back into their savings or raise funds from friends and family to settle lawyer’s fees.
- Lawyer Accountability and Clearly Stipulated Fees
Most lawyers have clear, elaborate models of fee payment. However, it’s also common for lawyers to accumulate amounts that cannot be explained. This could be in terms of hourly rates or any other charges. When this happens, disputes are bound to arise.
The no win, no fee plan ensures that such circumstances are avoided. It also means that any fees that the client commits to pay is clear and settled only after certain services are rendered
- Good for New Legal Entities
The process of building up a business can be very challenging, especially in a field where you must win the trust of clients and build up your portfolio. People tend to mainly seek specialty lawyers and those who have a lengthy experience, which leaves lawyers newly established lawyers with low chances to fight.
As a way of establishing a new legal business, lawyers can adopt a no-win, no-fee strategy as they build up their portfolio. However, this should be done carefully, given that winning is not guaranteed and even a young firm needs finances to run effectively.
- Quicker Court Processes Without Funds
Court processes take time to get finalized and sometimes require both the plaintiff and the defendant incur have liquid cash. If cash isn’t an impediment, court processes are likely to move faster and get finished within the stipulated period. For instance, cases involving accidents where compensation is likely to be granted by the court can begin as soon as possible.
This kind of plan also increases the chances of pushing parties to find ways of settling matters out of the court. In the end, the most important aspect of any court process is justice for the all involved parties. When the process takes a shorter period, parties are more relieved, thus reducing stressful situations.
- Fair settlement
The court proceedings allow all parties to be a party to the process, including the final judgment. This means that in case the court awards any compensation, all parties know exactly how much is at stake. The lawyer will, therefore take just a given amount of the awarded fees. In other words, any payments to be shared is done fairly. This reduces conflict between the lawyer and his clients.
The legal profession doesn’t evolve as fast as other industries do. All over the world, there are several traditions held by the justice systems that allow little room for flexibility. The no-win, no-fee arrangement presents a unique situation that can be executed by parties for a more friendly settlement, avoiding a lot of push and pull. This notwithstanding, parties should clearly have an understanding of how benefits and costs will be shared equally.