The reforms from 2013 have resulted in law firms being unable to recover all of our fees from the opponent. In addition, the government slashed the amount of fees we can recover to a fraction of what they used to be.
It’s all out of our hands – this is down to the government caving to pressure from the vastly wealthy and influential insurance industry. Most lawyers now take 25% from your compensation: but does this mean everyone has to?
Why a 25% fee?
25% is the commonly quoted deduction because this is the maximum amount a law firm can recover from your compensation for their Success Fee which is no longer recoverable. Essentially the government capped it so lawyers cannot take any more than 25%. As such, 25% has settled as somewhat of a “market rate” as most lawyers will take the most that they can.
In addition, you may face overall deductions of up to 40% if you go through a claims management company or accident advice service. They are simply middlemen who used to receive referral fees from solicitors for passing claims on. But referral fees were banned in 2013 as well, so they now need to get their fees from somewhere else instead – like you!
Some have upfront fixed fees or additional charges as well.
So can I get a better deal?
Most definitely! First off, we – The Injury Lawyers – are an actual law firm so there are no additional percentages or hidden costs or charges involved. Unlike many other firms, there is nothing upfront to pay as well. We also do not take out insurance for the case and charge you for the premium (although you are still covered, so you are still protected).
But the key thing is that the 25% is a cap – it is the maximum we can take, so we do not have to take the full amount. Whilst most other lawyers will, we will individually risk assess your case and we’re often prepared to lower the deduction based on:
- The severity of your injuries
- How quickly you confirm your instructions and get a case set up
- Your cooperation throughout the claims process
When it comes to the latter two, we are prepared to pass any savings we can on to you by lowering the percentage where you allow us to be efficient. It’s dead easy – get a claim set up as soon as possible and ensure you cooperate with us efficiently and we can save you a lot of money!
So speak to us for a better deal by calling us free from a landline or mobile on 0800 634 75 75 today!
