{"id":15200,"date":"2014-03-18T12:23:28","date_gmt":"2014-03-18T12:23:28","guid":{"rendered":"http:\/\/www.theinjurylawyers.co.uk\/injury-lawyers-blog\/?p=15200"},"modified":"2014-03-18T12:23:28","modified_gmt":"2014-03-18T12:23:28","slug":"cash-upfront-claims-why-to-avoid-them","status":"publish","type":"post","link":"https:\/\/www.theinjurylawyers.co.uk\/injury-lawyers-blog\/2014\/03\/18\/cash-upfront-claims-why-to-avoid-them\/","title":{"rendered":"Cash upfront claims \u2013 why to avoid them"},"content":{"rendered":"

Did you know we still offer 100%?<\/i><\/a><\/p>\n

Many personal injury lawyers and claims companies are thinking of as many ways as possible to entice you to use their services. There are some firms out there who will give you money up front as an incentive to make your claim with them.<\/p>\n

But here are some reasons as to why this isn\u2019t always as attractive as it might sound…<\/p>\n

<\/p>\n

What if you lose the claim?<\/span><\/b><\/p>\n

Let\u2019s look at the obvious one here \u2013 as far as I\u2019m aware, companies that offer these sorts of things aren\u2019t just giving you money for free. The legal fees a law firm can recover are very small nowadays, so from our experience it\u2019s not a gift, but an upfront \u2018loan\u2019 of sorts. The money they give you will be deducted from your final payout if the claim wins.<\/p>\n

So if the claim loses, it\u2019s highly likely they\u2019ll want that money back. So ask yourself the simple question \u2013 what\u2019s the point if you will need to keep that money and not spend it in case you end up needing to pay it back anyway? I\u2019m sure you wouldn\u2019t want to spend it all and then end up facing a massive bill you can\u2019t pay because the claim hasn\u2019t won.<\/p>\n

If you don\u2019t pay it, they could take enforcement action against you \u2013 County Court Judgments, a mark on your credit score, etc; it\u2019s all potentially dangerous.<\/p>\n

Are they offering 100%?<\/span><\/b><\/p>\n

Most law firms don\u2019t actually offer you 100% compensation anymore because of legal fee reforms from last year. For most claims, we do \u2013 so you need to ask yourself the big question as to whether you want a little money upfront now, or more money later on.<\/p>\n

If they give you \u00a31,000.00 upfront and your claim is worth \u00a35,000.00, they\u2019ll be taking \u00a31,250.00 from you as their deduction if it\u2019s set at 25% \u2013 leaving you with just \u00a32,750.00 at the end of the claim when you take all the deductions off including the upfront payment.<\/p>\n

With us, you\u2019d end up with \u00a35,000.00 at the end of the claim \u2013 it\u2019s a no brainer!<\/p>\n

What if your claim is worth less than what they gave you upfront?<\/span><\/b><\/p>\n

What if they gave you \u00a32,000.00 upfront but your claim only settled for \u00a31,000.00? You could end up in a position where you owe them money at the end of the claim \u2013 and if you\u2019ve spent it all, you\u2019re in the same boat potentially that you could be in if the claim loses in many ways.<\/p>\n

And if they want to take 25% from your payout as well, that\u2019s more money to lose!<\/p>\n

Do cash incentives affect the service?<\/span><\/b><\/p>\n

You could argue that they do because they\u2019re working whilst in debt when it comes to their budget. Remember that the cash incentive is often an easy hook to get people claiming with them, so service may not be a top priority. A poor service is a number one cause of under settling claims.<\/p>\n","protected":false},"excerpt":{"rendered":"

Did you know we still offer 100%? Many personal injury lawyers and claims companies are thinking of as many ways as possible to entice you to use their services. There are some firms out there who will give you money up front as an incentive to make your claim with them. But here are some … Continue reading Cash upfront claims \u2013 why to avoid them<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,12],"tags":[],"class_list":["post-15200","post","type-post","status-publish","format-standard","hentry","category-articles","category-lawyers-directory"],"yoast_head":"\nCash upfront claims \u2013 why to avoid them<\/title>\n<meta name=\"description\" content=\"Cash upfront claims \u2013 why to avoid them\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.theinjurylawyers.co.uk\/injury-lawyers-blog\/2014\/03\/18\/cash-upfront-claims-why-to-avoid-them\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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