The once cavernous personal injury market in the UK remains braced for a series of mergers and acquisitions in 2022, after IRN Research predicted that the sector’s total value would ultimately lose 1.5% through 2020 and 2021.
In addition to facing new and topical challenges, the personal injury market is often at the mercy of historic myths and misconceptions, which may cause issues for both firms and potential claimants alike.
But what are the main personal injury myths, and what’s the truth behind these common misconceptions?
#1. I Need to Go to Court With My Claim:
While most personal injury claimants believe that they’ll have to prove their case in court, just 5% of such instances reach this destination. In fact, liaising with skilled and experienced personal injury solicitors enables you to determine causation and successfully demonstrate your claim, encouraging other parties to settle and avoid a lengthy court case.
#2. It’s Expensive to Pursue a Personal Injury Claim:
It’s tempting to think that pursuing personal injury claims can be costly, but this doesn’t recognize the impact of so-called “no-win, no-fee” representation. This now dominates the market and makes personal injury claims more accessible to claimants, who can leverage legal services for free and only pay 25% of the damages awarded if they’re successful.
#3. The Claims Process is Too Complex:
This is another misconception, although the assertion has at least a small basis in fact. Certainly, some personal injury claims may be complex depending on their scope and nature, but most are relatively simple and involve trips, falls or accidents at work. What’s more, a seasoned solicitor will ensure that you’re kept abreast of the process and well-informed at all times.
#4. I’ll Have to Pay Tax on My Compensation:
If you are successful, you will have to pay legal fees from your compensation, up to 25% in instances where you’ve embraced a ‘no-win, no-fee’ model. However, it’s completely false to suggest that any tax is payable on your compensation, as you’ll be free to keep any of the capital that isn’t committed to clearing associated legal fees or debts.
#5. Minor Injuries Aren’t Worthy of a Claim:
If you’ve only incurred a minor injury that hasn’t caused extensive damage or a sustained loss of earnings, you may feel as though making a claim is unnecessary. While this is up to you, of course, you should still consider making a claim if you’ve been injured at work or as a result of another’s negligence, particularly if you can use a no-win, no-fee lawyer and pursue even small amounts of compensation with minimal risk.