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March 7, 2024

Our “No-Win No-Fee” agreement – is just that!

You’ve probably seen in the news that hundreds of SSB Law clients have been left with huge legal bills following the Solicitor firm’s collapse.

Clients who took up a “No Win No Fee” agreement to pursue Cavity Wall claims are facing demands for huge amounts of money to cover costs after the claims were unsuccessful.

“No-win No-fee” is a term commonly used by Claims Management Companies (CMCs) and by some Law firms/Solicitors providing claims services.

In light of the SSB Law scandal, we thought it important to clarify a few things about our “No Win No Fee” agreement.

When we say “No Win No Fee” this is what we mean…

You only pay Pension Claim Consulting a fee if your claim is successful OR you decide you want to cancel our service outside of the 14-day cooling off period.

That’s it.

If we aren’t successful and don’t get you an offer of compensation you don’t have to pay us anything.

There are no legal costs or insurers involved in our service and therefore, no 3rd parties for whom any monies could, or would ever be due.

We can assure you – you are not at risk with Pension Claim Consulting of any 3rd party being able to pursue you for costs in relation to your claim. This is because there are no other parties’ costs involved in our claims service.

What about ATE insurance?

We don’t need ATE insurance.

The difference between ourselves and Solicitors claims where litigation (a court judgement) is involved – is that legal costs from both sides are also involved.

Therefore, Solicitors have to acquire After The Event (ATE) insurance which covers the legal costs if a claim isn’t successful. It covers:

  • Any costs a solicitor has had to pay while making a claim, such as reports, further investigation, and court fees
  • The other party’s legal costs, which an individual would normally need to pay if a claim isn’t successful.

What Pension Claim Consulting offer, as a CMC and not a law firm, is a service where the only possible costs involved for clients are our own fees.

What is our success fee?

Our success fee is 15% + VAT of the amount of compensation offered in settlement. And since February 2022 our fees have been capped at £7,500 +VAT.

It’s important to note that in most cases, Solicitors’ “No Win No Fee” approach has been effective and not all Solicitors claims require litigation.

We hope this has addressed any concerns, if not – feel free to get in touch. As you know, we are always here to answer any questions you may have.

Important Information!

You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.

It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.