We have all heard of the phrase "no win no fee" in the claim industry. The phrase is thrown around all over the place these days, on the internet, on television ads, in newspaper and magazine ads etc, it's a term that has become synonymous with the whole compensation industry whether you are claiming for miss sold financial products and services or personal injury compensation, but why is the term used so often nowadays?
Go back a few decades, before the internet revolution of the late nineties and the phrase "no win no fee" was hardly used at all. If you decided that you had a financial claim against someone or some company you visited a local solicitor, usually one that had been referred to you by a friend or a colleague because let's face it, only organised crime bosses have a solicitor on speed dial.
So you got in touch, arranged a meeting, usually free, or they used to be, and you discussed your case with them in length. The solicitor then typically decided whether to take on your case or not based on the possibility of winning the case and because in most legal cases the losing party pays the winning party's legal fees the solicitor was much more enthusiastic about taking on the case if it was clean cut and some solicitors where so confident about winning that they charged the client nothing and said they would claim their fees from the other party as no risk to you, which of course is "no win no fee" it's just the phrase wasn't used back then.
Of course if the client is financially well off and willing the pay their own legal fees then most solicitors will take on any case whether they think they can win or not and some will use difficult cases like these to learn or to test their own legal competence and skill against their opponent.
Then the internet revolution came along, and along with it cheap advertising and for the first time in history it wasn't about being the best solicitor, it was about marketing, targeted ad campaigns and which law firm could expand the quickest, look the biggest and the most well off and bring in the most clients and massive law firms popped up in every major UK town, boasting dozens or solicitors working for them and 100's of staff and all claiming to be the best in the industry, all offering no win no fee services.
You'll not be surprised to learn that these large law firms do not employ the best solicitors the best solicitors are partners in small firms that have been around for many years, what these large companies do is only take on the cut and dry cases that basically any first year law student could win, they take these cases on a no win no fee basis and turn down any difficult cases. Now some years ago this business model simple would not have worked because the firm could not get enough work to keep going if they employed dozens of solicitors and only took on the easy, slam dunk, cases but nowadays they do work due to marketing, online advertising, unsolicited phone calls and the current UK claim culture.
However, not every solicitor offering "no win no fee" is offering the same deal, and many people have won a compensation case for example and then had legal fees taken out of the monies that they where awarded rather than the other party paying the winners legal fees on top. This is because this is deal that is much easier to do with the other party and at the end of the day it's the claimant losing out and not the solicitor, as they always get paid.
As a rule of thumb you should avoid the large law firms boasting their wealth by renting the top 3 floors of the most exclusive building in your town or city and claiming to have dozens of the best solicitors in the business and instead choose a small law firm with a couple of partners, and if "no win no fee" is offered make sure to asking exactly where the fees are coming from.
If you looking to find and compare a number of independent solicitors in your area then visit http://www.localtrusted.co.uk/solicitor