Costs Terminology It can be daunting as a client to receive a document full of legal jargon related to your case. This easy to understand jargon buster will help you understand the common terminology used in the field of legal costs. Act as a solicitor – To perform those acts that only a solicitor may…
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Funding your claim
Whether we are helping you to resolve a dispute with your employer, or pursuing a claim against the organisation in the employment tribunal, we offer a number of funding options that can be tailored to your case, such as:
- Legal insurance funding
- No Win No Fee/Contingency/damages based funding
- Payment on an agreed hourly rate
- Fixed Fee
- Settlement agreement signing
We pride ourselves on being able to advise and act on behalf of employees on all areas of employment law whilst offering affordable access to justice.
Areas of specialism
- Unfair dismissal
- Constructive dismissal
- Settlement Agreements
Legal Insurance Funding
If you own your own home, you will have taken out buildings insurance and as part of that cover, you may also benefit from what is called Legal Expense Insurance, which can sometimes cover legal expenses for bringing an employment claim. You can check this by looking at your insurance policy terms, or by contacting your insurer directly.
It is also worth checking whether you have the benefit of Legal Expense Insurance linked to your car insurance, credit cards, or your bank accounts.
You have the freedom of choice as to which solicitor you select to represent you, therefore once you become aware of a claim, you should make enquiries with your insurance company and advise that you wish to instruct your own solicitor.
If you believe that you have the benefit of Legal Expense Insurance, please contact us on 0161 249 5087 and we can liaise with your insurers on your behalf to arrange cover quickly so that we can deal with your claim as soon as possible.
No Win No Fee /Contingency/damages based funding
As the name suggests, if we can take on your claim on a No Win No Fee basis, we agree not to be paid for the work done on your case, should your case not succeed. If your case is successful, then only at that time would we look to recover a percentage of whatever deal we manage to negotiate for you.
We try to offer No Win No Fee wherever possible, as this shows our commitment by having the same incentives as you and that is to settle your case swiftly and out of court at the highest settlement value possible.
If at the time of our instruction you already have an offer, then our percentage fee would not apply to that amount and will only apply to any additional amount we negotiate for you. Our percentage fees range from 10 – 30% of any negotiated settlement. Once we advise you of the exact fee percentage that we can offer for your claim, you can be assured that there will be no further hidden fees, should you wish to proceed with us.
Payment on an agreed hourly rate
A solicitor’s hourly rate usually reflects their level of experience and seniority. Paying a solicitor on an hourly rate to deal with the whole claim is the most common and traditional method of funding, but before making the decision to go ahead, you will need to consider whether the cost of proceeding with a claim outweighs the value of it.
If your claim far exceeds the value of the estimated fees and you are prepared to accept the risk that it may not succeed, then this could be a good method of funding for you. You should know that only in a minority of cases are Legal costs recoverable from your opponent in tribunal proceedings.
We will advise you at the outset of the potential value of your claim and the costs that you are likely to incur to take your claim to a Tribunal. Should you instruct us to proceed; we will provide regular monthly updates as to the costs you are incurring. We believe in transparency of costs and we can assure that there will be no hidden extra fees.
We always aim to resolve disputes before proceeding with court action we will therefore discuss all options available to you every step of the way.
If you wish to know more about costs, please contact us on 0161 249 5087 or complete the online enquiry form and a member of the team will contact you to discuss. Why not try our calculator to have an idea as to the value of your potential settlement.
If you are experiencing difficulties at work and need practical advice, for a fee of £300 plus VAT we can provide you with an initial face to face meeting to discuss your concerns where we will identify what options are available to you and the steps to take to resolve the issue, as well as advice on potential claims you may have. For that fee we will also consider documentation you have received from your employer. Following the meeting we will provide you with a written advice, outlining the options available to you.
We often continue to advise clients following the meeting by looking to resolve the issue on their behalf. At this point we will consider a suitable funding option.
Settlement agreement signing
Where you have agreed terms with your employer, you will not pay us a penny for signing off your settlement agreement because your employer pays for this service and there will be a clause in the settlement agreement specifically about legal fees. The amount that an employer will pay is usually between £250 and £500 excluding VAT, depending on the complexity of the matter.
Once we have completed our advice and signed off the settlement agreement for you, we will send an invoice to your employer directly for the agreed fee and you will not be involved in this process.
If we feel that there is potential to increase the settlement amount, we will let you know in your free consultation.
Tribunal cases vary so much, therefore it is essential that we know the details before setting a fee structure. They are often lengthy, uncertain and expensive. A claim for Unfair Dismissal will typically cost around £4000.00 plus VAT and associated costs, such as barristers and Tribunal fees.
Therefore we tend not do these on a purely No win No fee basis.
What should I do Next?
If you wish to discuss our employment law service, please contact us on 0161 249 5087 or complete the online enquiry form and a member of the team will contact you to discuss.
Get In Touch
Use the contact form and or call us on 0161 249 5087 and our award winning legal team will contact you to find out how Versus Law can help you.