Personal injury settlement, advice?
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Thedaddy11
Posts: 14 Forumite
After making a full recovery from my injuries, the claim was put to the third party insurers. They sent their first settlement offer.
My solicitor advised it was at the low end, and they would make a counter offer. The insurer refused to increase the offer. My solicitor then tried again once more to no avail, so advised court action to have my claim valued by a judge.
Now that has begun, the insurers are suddenly willing to increase the offer, allbeit by a small amount (4%).
Now my solicitor has completely changed their position, saying I should now accept and they will reduce their success fees by a considerable amount if I did accept?
Just seems a little strange that they have changed position for such a small increase and also that they have offered to reduce their success fee?
Obviously i need to decide whether to accept or go to court, but that decision was based on my solicitors advice. I'm now beginning to question it?
My solicitor advised it was at the low end, and they would make a counter offer. The insurer refused to increase the offer. My solicitor then tried again once more to no avail, so advised court action to have my claim valued by a judge.
Now that has begun, the insurers are suddenly willing to increase the offer, allbeit by a small amount (4%).
Now my solicitor has completely changed their position, saying I should now accept and they will reduce their success fees by a considerable amount if I did accept?
Just seems a little strange that they have changed position for such a small increase and also that they have offered to reduce their success fee?
Obviously i need to decide whether to accept or go to court, but that decision was based on my solicitors advice. I'm now beginning to question it?
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Comments
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Taking it to court increased the fee the solicitor can recover from the insurer. They have got their increased costs so no interest in fighting it further. Or is that me being cynical of solicitors.0
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Taking it to court increased the fee the solicitor can recover from the insurer. They have got their increased costs so no interest in fighting it further. Or is that me being cynical of solicitors.
It's another £250 + VAT for the solicitor if it settles after the commencent of Stage 3 proceedings under the Low Value RTA Protocol.
However, getting this extra £250+ VAT will be eclpised by the reduction of the success fee a little, but they will have most likely already applied the full 25% to the interim payment of damages the OP will have already received. So they are most likely looking at it now whereby they will be applying the success fee deduction to only a small amount of additional damages.
To the OP, were you given a valuation or likely settlement figure your solicitors were hoping to achieve for your injury claim before the medical report went off to the insurers and negotiations started?
Is the figure they are now recommending you accept at odds with what they previously told you the claim was worth? If so have they given any reasons why?0
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