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Law Firm Funding – A Solution To Case Expense Management

Lawsuit Funding

Law Firm Funding– A Solution To Case Expense Management

If you are a personal injury attorney working on a contingency basis, part of your process when deciding to take on a new case is the strain that related expenses will place on cash flow. If you find yourself in the unenviable position of turning down a rock solid case because the associated costs would put a dangerous dent in operating funds, then law firm funding may be just the solution to your dilemma.

Law firms that operate principally on a contingency fee basis are in a difficult position when it comes to acquiring financing. Because income is based on an uncertain event that will occur at an uncertain time in the future, traditional lending sources will not accept contingency fees as collateral and as a result will not underwrite traditional loans. Likewise banks have tightened their requirements for extending a line of credit to businesses and contingency based law firms are on the bottom of that list.

 
law firm funding

Funding Companies Provide A Solution With Law Firm Funding Products

Obviously law firms working on contingency have a need. If they had a way to ensure that case expenses like expert witness fees, professional fact preparation, investigative fees and court filing fees would not represent a financial barrier to fully exploiting the merits of a case, they could take on solid, large dollar cases whose complexity almost insures a long drawn out process.

Without a source of financing the plaintiff’s attorney is at a distinct disadvantage when dealing with an insurance backed defense firm. The defense firm, comfortable in the knowledge that their deep pocket insurance clients will pay the bill may delay, stall and delay again in hopes of making the case too expensive for the plaintiff’s attorney to pursue.

Leveling the playing field are funding companies like industry leading Multi Funding USA who have an expertise in the legal industry that allows them to evaluate the likely worth of contingency fees for a given case. Using that evaluation as an important part of the underwriting process differentiates these funding companies from traditional financing firms.

When potential revenue is added into the equation, many law firms find themselves eligible for law firm funding.
attorney funding

How Law Firm Funding Works

Perhaps you are already familiar with Multi Funding USA as a leader in lawsuit funding for plaintiffs. We apply the same expertise and financial strength used in lawsuit funding when offering attorneys law firm funding.  Multi Funding USA is a direct lender. Because there are no third parties involved and the company’s own financial resources are being used to fund loans, Multi Funding USA has been able to design exceptionally competitive law firm funding products. Here is a short list of the principal benefits:

  • No monthly payments. Trading the cost of case expenses for a monthly payment just doesn’t make sense. Multi Funding USA’s law firm funding product requires no monthly payment.
  • Pay back the amount funded when you get paid.  Allows you to pursue the case to the best possible settlement or judgment. When that time comes and you have your contingency fee in hand is when you pay back the amount funded.
  • Competitive funding costs. As a direct lender Multi Funding USA can keep funding expenses  exceptionally competitive.

If funding your case expenses makes sense to you why not give us a call at 866-957-8880 or visit our website and complete the online short form.

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