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Attorney Funding & Law Firm Funding in NY & NJ

Attorney Funding & Law Firm Funding

Attorney Funding or Law Firm Funding in NY & NJ : 5 Good Reasons to Apply

New York and New Jersey attorneys, like most attorneys across the United States, sometimes find themselves having to pay for a lot of the pre-trial costs necessary to building a strong case for their clients. The compensation for these expenses is often not seen until their contingency fees are collected after the court case has been settled. These factors, along with the long timelines that accompany each case, make for weak financial positions for many law firms. Attorney funding and Law firm funding can help alleviate the peaks and valleys of a firm’s finances. Here is a list of five good reasons to apply for attorney funding or law firm funding.

1.Case Development Costs – Court filing fees, expert witness fees, service of process fees, deposition fees — all of these items cost money and must be paid as part of the process of developing your client’s case. Travel and lodging expenses required for fact-finding and court appearances can also add up quite quickly. Many attorneys are paying these expenses out of their own pockets, which can create a significant drain on the firm’s bank account. Lack of financial resources can also hinder an attorney’s ability to properly prepare his client’s case; something that should never happen. Attorney funding, and law firm funding can help alleviate this financial strain.

2.Improved Cash Flow – The ability to pay creditors and expenses promptly is important to a legal firm in many ways. It increases their credibility in the business community and removes an added source of stress from the business side of practicing law. How can attorneys present the image of success, they rightfully deserve, when their financial obligations aren’t being met? Individual attorney funding, and law firm funding can help.

3.Contingency Fee Collateral – Banks aren’t likely to loan an attorney money using their future contingency fees as collateral. Banks prefer real and personal property to secure their lending. A strong case with pending contingency fees is all that is needed to secure law firm funding. Securing funds from a financial provider who understands the legal profession and the value of your client list, means the process will be specifically geared towards your situation. Multi Funding USA understands, and provides both attorney funding and law firm funding.

4.No Loan Payments – This is another benefit that a bank will not be likely to offer many of its customers, no loan payments. Most borrowed money comes with a payment schedule that starts within 60 days of the receipt of funds. That is not the case with this type of funding. No amortization schedule or payment book to place in your payables file. You don’t have to repay us for the attorney funding or the law firm funding until you get paid.

5.Lines of Credit – For some legal firms, a line of credit meets their needs better than borrowing a set amount for a specific case. The attorney funding approval process for a line of credit is very similar to that of the other funding options, and just as fast. Along with the attorney funding application, a verification of income and a portfolio of current personal injury cases are all that are needed to establish the line of credit. Draws on the line of credit can be made at any time to cover the expenses being incurred for the eligible list of cases in the portfolio. The amount available for the line of credit will depend on the particular firm’s years of experience, success ratio and the value determination of the portfolio of cases presented with the application. Lines of credit offered for attorney funding and law firm funding could range between $50,000.00 and $5,000,000.00.

Attorney Funding & Law Firm Funding

Applying for attorney funding and law firm funding to cover the expenses incurred during the litigation process can help bolster the entire financial position of an attorney’s business. Knowing that the attorney funding process will be handled by experts who understand the financial side of their profession gives added security, especially when there are no payments to be made during the interim.

Multi Funding USA will provide a free, confidential consultation regarding attorney funding or law firm funding. Simply complete the Attorney Funding Contact Form or the Law Firm Funding Contact Form and a representative will contact you today, or complete the convenient Attorney Intake Form on our website to expedite the process.

 

Multi Funding USA is your specialist for Attorney Funding and Law Firm Funding.

Contact us today to receive your cash tomorrow   1-866-957-8880

 

 

 

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