Anyone who has ever faced the possibility of resolving a personal or commercial dispute through the courts will no doubt have wondered about the costs involved.
Often, when disputes arise, litigation is the last available option in situations where mediation has failed and there are no other possible solutions except to go through the courts.
Unfortunately, cost is often the biggest factor in deciding whether or not to continue with a dispute; if the compensation a client seeks to recover from their opponent is disproportionate to the overall costs of litigating the dispute, they may decide that it is not worth proceeding.
However, funding options are available, which is where Pearson Rowe can help.
Our litigation specialists can discuss the details of your dispute with you before advising on the legal fees and likely costs of your case and can advise on the funding options which may be available to you, including:
- Private funding – fees are paid by you from personal or private funds
- Third party funding – a third party provides funding in return for a proportion of the damages and costs awarded
- Conditional fee arrangements – an agreement whereby we look after your case for a reduced fee or no fee, but where an agreed fee is payable on successful conclusion of the case
- Existing insurance for legal expenses – you may have an existing insurance policy which provides cover for any legal fees and expenses
- Insurance policy obtained after the dispute – you may obtain an insurance policy after the dispute arose, covering the legal fees and expenses of the other side in the event that your case is unsuccessful
- Contingency/damage-based agreement – the circumstances for this agreement are fairly restricted but in some types of action we can agree to carry out the required work in return for a fixed percentage of any damages paid out by the losing party.
Though litigation costs can often be recovered from the losing party, this is not always the case and is, ultimately, left to the discretion of the court.
It is always worth seeking professional advice in matters relating to personal or commercial disputes.
For more information on any of the high quality legal services provided by our expert solicitors in Birmingham, please contact us.