We offer a “Deferred Payment Plan”.
In our experience, it means our clients keep more money.
Keep reading to learn more.
If something is too good to be true, it probably is. ‘No win no fee’ firms are not as black and white as clients wish them to be – solicitors are legally obligated to charge fees for their work. However, the manner of payment varies between firms, and unfortunately, this is where most clients get caught.
First, let’s debunk the myth of the ‘no win no fee’ fad.
A traditional ‘no win no fee’ contract is known as a Conditional Cost Agreement, where clients are contractually obligated to pay solicitor fees and in the event the client’s case wins or settles, pay their solicitors what is known as an ‘uplift fee’. This additional uplift fee can be as much as 25% of their client’s winnings.
If the case does not settle or conclude in favour of the client, ‘no win no fee’ actually means the client does not have to pay their solicitors fees but will have to pay the opposing party’s fees. That is the standard risk of pursuing civil proceedings and taking someone to Court.
The concern with Conditional Cost Agreements is that solicitors are encouraged to pursue a settlement, even if it is against the client’s wishes. The incentive of uplift fees means solicitors will avoid working hard for their client, and instead settle the matter cheaply to secure their uplift fee. This means the solicitor might encourage their client to settle for less than what they could have been granted, in order for the solicitor to secure the extra 25% of the settlement money in addition to their fees.
At Northern Beaches Lawyers, we prefer to put our clients’ wishes first. We do not engage in Conditional Cost Agreements, rather we design our contracts as a Deferred Payment Plan.
A Deferred Payment Plan means we only charge our clients for our services and do not charge extra fees or ’uplifts’. However, we often defer billing for our services until after the matter has been settled or the case is determined. This is so our clients are not out-of-pocket when pursuing a matter, and rather have the opportunity to pay for our services out of the settlement money. We do not charge an additional 25% uplift fee, rather we charge for our services only. We have practiced this way for over 25 years. We fight for our client’s rights.
We offer experienced solicitors who are client-centred and not driven by personal gains. We will always act in your best interests. This involves advising clients on if their matter is likely to succeed, advising if the settlement terms proposed are acceptable or advising if it is in the client’s best interest to pursue the matter in Court.
Contact us today for advice regarding any Wills and Estate matters you wish to pursue.