Costs

Legal costs are an important issue in any dispute. Before incurring costs we believe that it pays to plan how costs are going to be paid, ways to reduce the risks on costs and how to maximise your prospects of recovery.

Typical sources of funding are:

Businesses

  • Legal expenses insurance usually found in a package in a business, property insurance or within a trade association or other membership package. The insurer will, depending on the policy, pay for the costs of the action as it progresses and cover the risk of paying the other sides’ legal costs and your costs if the case is lost.
  • Fees based on time spent by the solicitor at an agreed hourly rate usually billed and payable monthly
  • Fixed fees for specific tasks-usually for bulk services such as debt collection property repossession
  • Fees in which part or all of the costs are payable dependent on success. Known as conditional fee agreements, these are formal agreements where typically there are reduced fees for the duration of the claim with an enhanced fee based on success
  • After the event insurance. This is a specialist insurance best approached through specialist brokers. The insurer generally assesses the prospect of success of each case and provided a quote based on the amount to be insured and the risks of losing. The premium may be deferred to the end and be part of the sum insured( and so be only payable if the case is successful)

Private individuals

  • Fees based on time spent by the solicitor at an agreed hourly rate usually billed and payable monthly
  • Fixed fees for specific tasks-usually for bulk services such as debt collection property repossession
  • Fees in which part or all of the costs are payable dependent on success. Known as conditional fee agreements, these are formal agreement which provide to additional charge payable on success.
  • Public funding available to individuals of limited means provided the dispute is not business related. Typically available from firms with a franchise with the Legal Services Commission. (Not available from Michael Blandy Solicitors).
 

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Costs