- Do you need a loan to support litigation for a group of cases?
Loans from $50,000 to over $10,000,000 are available, and the contingency fees from the cases are the collateral for the loan. Use other people’s money to grow your practice.
- Do you need cash to bring in expert witnesses to support active litigation?
Expert witnesses can be the difference that gets your clients the settlements they deserve. Don’t let an absence of funding deny your clients that critical testimony that will add up to “wins” for you and your clients. Expert witness funding can be obtained via a law firm loan collateralized by the contingency fee income from a group of cases. Contact us to learn more.
- Do your commercial or government clients take their time to pay your fees?
Delays in payment of fees and the problems this causes can be alleviated by getting an advance on those future receivables. We can show you how this is done.
- Do you have a tax lien that you need cash to resolve?
A loan based on the contingency fee income from a group of settled or pending cases may be the means to provide the money needed to resolve your tax lien situation..
- Do you have plaintiff clients who are experiencing financial hardship and need access to some of the cash from the expected proceeds from their lawsuit?
Most bar associations make it an ethical violation for attorneys to loan money to their clients to help them survive financially until their lawsuit settles. You can’t advance money to your clients, but we can with your help. Let us show you how pre-settlement lawsuit funding can work to your mutual benefit. Contact us to discuss pre-settlement lawsuit funding for your clients.
- Have you won a judgment for your client, but now an appeal is preventing your client from receiving their settlement causing a financial hardship for them?
You can help your client get appellate funding to pay their bills while the appeal process is underway.
- Do you have a “David and Goliath” case? Has the “David” in your case won a judgment against “Goliath”, but “David” is now in need of money while “Goliath” is appealing the judgment?
We can help the “David” in your case with appellate funding.
- Did you help your client create a structured settlement that seemed right at the time, but your client’s financial situation has changed and they need to access some or all of their future structured settlement payments to meet a financial need now?
A legal framework now exists to allow structured settlement payment recipients to sell all or part of their future payments to provide cash now. The legal framework is meant to protect the interests of all parties involved. Contact us to get a free, no obligation quote for your client regarding the sale of their future structured settlement payments.
- Do you have estate heirs who need an advance from their expected inheritance to meet an urgent financial need?
Settling an estate takes time, but sometimes heirs have pressing financial needs that cannot wait for the process to complete. If an early distribution cannot be made against the estate proceeds, then we may be able to help with an advance against their future proceeds from the estate.
If you answered “YES” to any of the above, then we can help you. Please contact us today for a free no obligation consultation to discuss how we can assist your practice.
Still have questions? We may have answered them on the FAQ’s for Attorneys page.
Attorney Funding FAQs
- What types of funding do you provide to attorneys?
We provide the following types of funding to attorneys.
- law firm loans (actually an advance against expected contingency fees) or attorney funding
- pre-settlement funding for clients
- settlement advance funding
- appellate funding
- structured settlement refinancing
- What are the basic requirements for attorney funding?
The basic requirements for attorney funding are listed below.
- the attorney must have legal malpractice insurance
- the attorney cannot be in bankruptcy
- the attorney must have good credit or have a partner willing to co-sign the loan agreement that has good credit
- the collateral for the loan must be fee income from a group of contingency fee cases (settled or unsettled)
- I need money to pay for expert witnesses. What options can you offer for funding expert witnesses?
The main option is for your firm to obtain a loan against your expected fee income from a group of contingency fee cases, and use all or part of these funds to pay expert witnesses.
- How does the law firm loan work?
A law firm loan (also sometimes referred to as “attorney funding”) is created using the expected fee income from a group of contingency fee cases as collateral for the loan. The value of the law firm loan is between 10% and 20% of the estimated contingency fee income. Please click here for more details on law firm loans.
- What can the law firm loan be used for?
The law firm loan has no restrictions on how it is used. It can be used for expert witnesses, paying deposition expenses, hiring additional staff, paying salaries including your own, and paying down other debts of the firm including tax liens.
- What types of pre-settlement funding do you provide?
We can provide pre-settlement funding for your clients. To learn more about how we can help your clients, please review the page on FAQ’s About Lawsuit Funding.
- What is “settlement advance funding”?
A law firm loan can be can be made using fee income that is anticipated in the near future from settled cases. The fee income from the settled cases can be combined with estimated fee income from pending cases to establish the overall loan amount.
- What is appellate funding?
Appellate funding is funding provided after a judgment has been won, but is being appealed. It can be used to cover the same types of expenses as pre-settlement funding. The advance percentages may be higher than for pre-settlement funding because more is known about the case.
- What is “structured settlement refinancing”?
If you settled a case as a “structured settlement” and your fees were also to be paid out over time according to the “structure”, then you have the option of selling all or part of those future “structured payments” to receive a cash payment today. The same can be done for the client for whom the “structure” was created.
- What are the fees for pre-settlement and appellate funding?
The fees for pre-settlement and appellate funding vary depending on the risk associated with the cases involved. They include both one time fees and fees that are charged for each month the advanced funds are in use.
- Is there “recourse” on the funding for attorneys?
This depends on the type of funding. Pre-settlement and appellate funding do not have “recourse”. If the case is lost, nothing is owed. The law firm loan may or may not have recourse depending on the situation and the underwriter providing the funding.. Accounts receivable funding will usually have “recourse” unless the client goes bankrupt. In other cases where the client does not pay the invoice, the law firm must either repay the advanced amount plus fees owed, or replace it with another receivable of equivalent or greater value.
- Can you fund my clients?
Yes! We provide the following types of funding for your clients.
- pre-settlement funding
- appellate funding
- structured settlement refinancing
- advances from estates in probate
- How will an advance to my client affect my fees?
There are a number of possibilities here. The table below shows the most likely possibilities.
|Outcome after advance is made||Effect on attorney’s fee|
|Case settles for more than expected because advance allowed you more time to obtain a more favorable outcome for your client||A larger settlement should result in a larger fee to you.|
|Case settles for about what was originally expected in spite of getting the advance||Your fee should be what you originally anticipated for the case.|
|Case settles for less than expected recovery||In this situation all parties are probably getting less than they would have otherwise.|
|Case is lost with no recovery||No effect because there is no fee in this outcome.|
- Is pre-settlement lawsuit funding a “good deal” for me and my clients?
This depends on the situation. Pre-settlement lawsuit funding is definitely a “good deal” when it enables you to reach a settlement or judgment that more than pays for the cost of the financing. When you are able to reach a higher settlement value both you and your client win. You earn a higher fee and your client may also walk away with a larger final amount. It may still be a “good deal” even it does not quite “pay” for itself if can help to bring medical or economic relief to your client while going through the lawsuit process, and also lessen the calls you get from your clients asking for loans or requesting quick resolution of their cases.. Pre-settlement lawsuit funding is a tool to be used by you and your clients when it appears appropriate for any number of reasons for the situation.
If you have additional questions, or if you would like to learn if funding can be obtained by your firm, please click here to contact us .