Costs Recovery & CFA Enforcement
Despite what the papers may say, and indeed our own colleagues who deal with legal matters outside of personal injury, we all know full well there is no such thing as any ‘easy’ PI case. Each and every victory is a hard fought one.
With that in mind, when you do win, you need to make sure that you get paid and get paid properly.
Recent years seem to have seen a ‘power shift’ towards the Defendant cost negotiators, armed with proportionality arguments and convinced that everything can be and should be done be Grade D fee earners, we have seen a trend towards low offers and little real negotiation as they play on the fact that the Court can take months – even years – to deal with assessments, all the while you are left with dwindling cash reserves in the bank.
Verus UK have our own in-house team of 30 cost specialists who will fight tooth and nail to maximise your costs recovery. Our highly knowledgeable and experienced costs team produce highly detailed bills and narratives so that the Defendants know from the very first day when we contact them that we will not be fobbed off with derisory, time-wasting offers. If we do not get appropriate offers or responses in what we deem a reasonable period we will move to assessment without delay, which usually results in a ‘real’ offer being put forward. All the while we will push for payments on account – if requested – to protect your cash flow. Firms can also access additional funding through our specialist funding vehicle, Verus Cost Funding.
Our results speak for themselves. Contact us about sending some trial cost cases across and see how our results compare to other cost firms you may have used. You may be very surprised at the difference!
Verus UK may also be able to help with CFA enforcement, an area that many firms shy away from themselves for fear of bad reviews damaging future client retention. We do understand that, and as soon as we contact a client we make it very clear that we are the ones with conduct of the case – not you – and that all communications must be through us. No win no mean does not mean free, there is nothing more frustrating that incurring thousands of pounds of WIP, and perhaps disbursements too, only for a client to decide for no apparent reason that they will not proceed or, worse again, they simply ignore every attempt you make to contact them.
Why not ask your accounts team to run you a report on how much WIP you have written off in the last 24 months due to clients not cooperating? Is it more than you thought? What could you do with that money in your firm? Are you ready to contact us now?
Acquiring full or partial caseloads from other firms can be an excellent way to provide an immediate boost to your practice
We understand how important it is that your intentions are kept concealed until the time is right
We have our own in-house cost specialists who will fight to maximise your costs recovery
Many mainstream lenders are extremely cautious when it comes to law firms in general and PI practices in particular
Our objective is a very simple one, to maximise profitability while maintaining outstanding levels of customer service
Straight WIP or practice sales/acquisitions are not always the best way to grow, diversify or dispose of a firm
We have close links with multi-disciplined law firms and can assist with matters beyond the PI market
VERUS UK LLP
Unit 13 First Floor
SOUTHPORT PR8 5AB