Most clients are confused about what really is “no win no fee.” Officially, this is known as a “contingency fee.” This means that your solicitor, PPI claims handling company or any other legal entity willing to do service on your behalf, only gets paid their percentage if they successfully make your case work.
The terms and conditions of most contingency fees are split into three points.
All Sales Are Final
When you sign a contract with a PPI claims company or any legal solicitor or entity, under a contingency fee, they are bound to deliver the following:
- Consistent performance in service
- Legal representation
- Use information shared by the client
All of these will be services not paid by the client. All the services will be paid out once the client’s case is resolved to satisfaction. Which brings us to…
The legal entity and the client discuss the intended result of the legal case. In most PPI claims cases, if the release of a repayment from a bank is satisfied, then the case is officially closed and the client pays 25% of the fee. However, if the target repayment amount, based on prior consultation and research by both the client and company, is not reached, the legal entity is bound not to charge their client, or would settle for a lesser fee depending on the agreement.
No Up Front Fees
Any solicitation before any legal representation ends on behalf of a PPI claims representative, the company or any employee of the company, will result to a violation of the contract. This would give the client ample complaint evidence to be refunded of any up front fees charged to them under a no win no fee contract.