Law firm funding, also known as an attorney loan is an advancement made to help fund an ongoing personal injury case and is used to help pay for expenses on the case such as expert witnesses. Law firm funding has become very popular over the past few years due to the increase in the number of cases in the U.S. Before law firm funding was made available, many people turned to credit cards and personal loans when suffering financially from personal injuries. Oftentimes, the plaintiffs involved in personal injury cases cannot make an income and don’t have much credit available, making legal funding a great choice for them.
Oftentimes legal funding has a lower rate of interest than a fee credit credit card out there and is non-recourse. You can help your clients with law firm funding. Consider the following questions when considering an attorney loan:
• Do your clients often ask about litigation funding to get by until they receive their settlement money?
• Are your clients pressuring you often to settle too quickly so they can receive their settlement payment?
• Have premature settlements caused you to lose money?
If you’re looking to save time and money, this might be the right answer for you and your clients. When taking advantage of law firm funding, you will have more time to build your case for a larger settlement – we just need to approve your client.
Questions about law firm funding? Contact Lighthouse Legal today toll-free at (800) 767-2274.