Quittance's online calculator reveals true cost of no win no fee compensation
Changes to personal injury law mean claimants can lose up to 40% of their compensation. This can leave claimants unable to pay for the treatment and care they need. Quittance's new personal injury claims calculator (/personal-injury-compensation-claims-calculator) is the first to reveal the full effect of the changes in the law to claimants.
Since the enactment of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (LASPO) in 2013, claimants' personal injury solicitors have been unable to recover success fees from the defendant. These fees are now taken from the claimant, and are normally 25% of the total compensation award. The 25% cap is imposed by the Ministry of Justice.
No Win, No Fee agreements require successful claimants to pay for After the Event (ATE) insurance. The combined cost to claimants of solicitors' success fees and ATE insurance can exceed 40% of the claimant's compensation.
Treatment and ongoing care costs are calculated as precisely as possible and reflected in compensation awards. Subsequent deductions can leave a claimant unable to pay for the treatment they need.
Claimants embarking on a claim are often unaware that post-award deductions can compromise their rehabilitation and recovery.
Quittance Personal Injury are the first to develop an online calculator to highlight the impact that solicitors' success fees have on the amount of compensation retained by claimants after deductions.
Speaking on behalf of Quittance, Jeremy Garside said,
"Success fees have a significant impact on the amount of compensation a claimant gets to keep. We wanted to develop a tool that would give claimants a more complete picture. This tool calculates the amount of compensation left after deductions. This is the number that claimants actually care about."
"Solicitors certainly deserve to be rewarded for the risk they carry when taking on a No Win, No Fee case. Quittance's calculator makes the impact of this clear and ensures that potential claimants are able to make a more informed decision about their personal injury claim."
The Quittance personal injury compensation calculator can be found here (/personal-injury-compensation-claims-calculator).
Notes for editors
About the company
Quittance Personal Injury are a regulated claims management company that manages a panel of specialist personal injury solicitors.
About Jeremy Garside
Jeremy Garside qualified as a solicitor in 1986 and is an experienced litigator. Jeremy is a director of Quittance.
About success fees
A success fee is paid to a claimant's solicitor in the event that a claim is successful. The success fee is agreed in recognition of the risk that the solicitor takes on by agreeing to work on a no win, no fee basis. Prior to the enactment of LASPO, success fees were recoverable from the defendant. From 2013, success fees are deducted from a claimant's compensation.
For more information contact:
Quittance Personal Injury
Northdown House, 11-21 Northdown St, London N1 9BN
Tel: 0800 612 7456