risk factors of litigation

[Kitsichick]

I was in a car accident two and a half years ago- not my fault and other driver convicted and admitted liability so now the compensation claim is proceeding. I couldn't work for 18 months and certainly not at the level I had been because I was frightened to drive. I am still having CBT and physio.
I really need my sols to get the claim settled even if it means I lose out on a lot more in the long term as we are struggling financially and I have a parent with dementia to care for so I am working less and for less money because I can't return to my old occupation. Today the lawyers sent me an assssment of what the claim would be worth now (which she doesn't want me to settle now as that means there is less ££ for her law firm to claim the percentage on)

She says that 'The general risk factors of litigation also have to be taken into account and in this case I consider such risk to be at least 25%'

I don't understand what this means. Is she saying that 1 quarter of what my claim is worth now might be deducted'? The total value of the claim if I settle now is £88k. If I wait another year and still carry on needing treatment is is around £160k as it takes into account my lost earnings and loss of future eranings in that professsion.

Its a big difference but I am willing to settle for the lower figure as I need the money NOW- however if 25% of it will be deducted I am far less tempted.

Please believe me I am not greedy. The money will pay for the care I have had, back taxes and re training. If anyone can translate for me I'd be so grateful. Thanks

No, she means you may not win. Even in th strongest cases things go wrong, and people who should win don't, and people who really shouldn't win do. You can never ever say you will win in court, and I read what she has advisd as syaing that you have a good case, you really should win but do please take account of the fact that if you take this to court there is a 25% chance of losing.

Some people therefore advise that you knock 25% off your settlement figure, so you would settl enow for £66,000 and next year if you still need treatment for £128,000 but that's only one point of view.

A settlement now should still take account your likely future loss of earnings.

Also do you think your lawyer might not want you to settle now, not because of the percentage she earns but because doing so cuts the value of your claim, from what you have said by nearly half. Surely that might be selling yourself short regardless of her position?

The other aspect that may be relevent is that the value of a settlement can be reduced if you had a pre-existing medical condition that may have also contributed to the loss, so for example if you had neck problems, but had had trouble in that area prior to the accident, or had developed depression, but had already had episodes of this in the past, then there could be an reduction in what you would be due as compensation.

Thank you all so much as this is so helpful- I odn't really have anyone to discuss this with as my parents are in such poor health and I don't want to worry my friends-in any case I don't feel at ease discussing money with people I am fond of (I know- I know- lessons there!)
Bit confused by your post Hilda- do you mean when you say I may not win that I could lose the entire case and get nothing? I don't see how that could be as the driver was convicted and the defendants have admitted liability. They have made one interim payment to me in eighteen months of £29k as I had not been well enough to earn. Would this mean I would have to return the £29K????

The biggest part of my claim is loss of earnings- past loss of earnings and this has been estimated at £75k- the defendents have had all my tax returns and payslips to verify this.
But ;IrishBird' seems to be saying something different?
Sorry guys- I guess I am just being v thick as so worried and fed up with it all.

You must have a meeting with your solicitor and perhaps also the barristercshe has instructed. Don't leave the meeting until you understand it all. You're wrong though about the % fees. They can't take a % of your settlement - they'll only get paid for the work they do, and tbh it looks like they're gently shuffling you away from going after the higher award.