What’s an Uplift Fee & Litigation Funding?
What’s an Uplift Fee & Litigation Funding? What is the difference between Costs Agreement and No Win No fee?
Are you confused by the legal-speak and small print made by law firms? Here at Revolution Law, we like to make the complicated simple. We still have all the fine print forms – ticking the boxes we need to, but our lawyers take the time to explain everything, and you are welcome to ask as many questions as you need to.
What is the difference between Costs Agreement and No Win No fee? There are two types of agreements you can have when making a personal injury claim using a law firm.
- Costs Agreement. This means all the fees and other expenses it takes to make your claim will be listed out and you will need to make payment on it upfront – no matter what the outcome. In other words – you are taking the risk of winning or losing.
- No Win- No fee (aka Conditional costs agreement) You will be given a written list of the fees and expenses that it will take to run your claim – but only if your case is successful do you pay. This amount is taken into account at the ‘pointy’ end of the negotiations with the insurance company and totaled into the final figure.
At Revolution Law, we have a No Win No Fee Policy for our claims. We believe that you should have justice irrespective of your personal financial situation. If you have been injured in a car accident or at work through no fault of your own, then we stand in the gap between you and the insurance company and make your case heard. We explain your journey and quantify what you have lost and what you need to get your life back on track again.
So, what are Uplift fees and Litigation funding?
Uplift Fee. Some law firms have an extra charge which is paid on a successful outcome of your claim. It reimburses the law firm for the risk they take in a No Win No Fee claim.
Revolution Law does not charge an Uplift Fee. We specialize in Vehicle and Workcover Accidents and our specialized experience has brought us hard-earned confidence which lessens our risk and increases your chances of a successful outcome. Our goal is to see you reimbursed for the consequences of your injuries and enable you to look toward the future.
Litigation funding. There are a number of expenses that are involved in making a claim. For the best possible outcome, we need to explain to the insurance company exactly what you have suffered. This will involve us getting reports from doctors & specialists, both your own and independent. We may need to have reports from engineers, police and other investigators and maybe a liability report. Usually, there are government fees for providing various pieces of information to prove your claim. Finally, at the end of the claim, we use experienced barristers to quantify and negotiate your claim.
All these outlays cost money and some law firms require you to either outlay the funds yourself or suggest you sign up to a litigation funder of their choice -which means you take on a short term and high-interest rate loan.
At Revolution Law, we handle all these expenses in-house and when the claim settles, they are reimbursed to us with no extra fees or interest paid by you.
Summery – if you do need to make a claim then check if your lawyer will charge you an uplift fee and how they will be covering the expenses of the claim.
Don’t forget we at Revolution Law can offer you an obligation free consultation with our lawyers – either by phone, zoom, at your place or one of our three offices. We do not charge Uplift fees and we cover the expenses of your claim until it is settled. We give you time to ask the questions because we want you to feel confident in our experience and ability to let you make plans to get your life back on track once again.
Ph 07 3416 4999 or email [email protected]
