Advancing or lending funds to a plaintiff has its risks and costs.
When clients know upfront exactly how much they will be paying for their advance, it is far less likely that there will be any surprises or unmet expectations.
Miami Judge OKs Agreement Settling Class Action
Some litigation funding companies advertise low-interest rates (2% to 4%) but if you read the fine print, you see that these are monthly rates (not annual rates) and many charge high origination, case handling and underwriting fees--often burying fee verbiage in the small print of the contract.
Leading New Jersey & New York-Based Personal Injury and Family Law Firm Introduces New Personal Injury Department's 'Recent Personal Injury Case Successes' Webpage
Pre-settlement funding is one way to level the litigation playing field. When injured clients have funds available to pay for living expenses while their case is being resolved, they are less likely to push for an early settlement that is not in their best interest.
An initial pre-settlement advance to cover a client's short-term expenses may not be sufficient when a case drags on
The sound of screeching tires, the scream of a kid, the wail of an ambulance are sounds none of us want to hear this summer. Unless we slow down on the gas pedal, look cautiously at crosswalks and share the road vigilantly with cars and bicycles, the chance of harm is ever greater, according to Dani Liblang, principal of the Liblang Law Firm in Birmingham
A pre-settlement funding agreement should not be another confusing document that your client has to decipher
Plaintiffs who can't work because of an injury can often quickly run through their savings while waiting for their case to navigate through the legal system. Borrowing funds to cover living expenses is often out of the question and impractical.
The report is the first time that litigation win rates of companies have been published for comparison. In the near future, Premonition plans to release their findings on top litigants in other industries along with their win rates.
Some settlement funding companies demand that all client signatures be notarized before funds can be released.