Post-settlement funding can provide much-needed cash for plaintiffs and attorneys. An attorney has a law firm to operate, so a non-recourse cash advance can be highly beneficial. We’ll look at the advantages of attorney post-settlement funding to help you decide if it’s right for you.
What Does Post-Settlement Funding Mean?
Even after a case settles, it can take time to receive settlement proceeds. But you can get an advance on an upcoming settlement or judgment. While it may be weeks or months before compensation is distributed and cleared, your firm can take advantage of the funds now instead of waiting. The cash advance will be paid back to the lender once you are paid.
Why Choose Attorney Post-Settlement Funding?
Post-settlement legal funding is a great option for these reasons:
- Immediate Access to the Money You’re Owed: The defendant may be trying to appeal the decision or may not yet have the money. Regardless of the reason for the delay, you’ll have instant access to the money you’ve worked so hard for.
- You Can Take On New Clients: Taking on new clients increases the financial burden on a law firm. With post-settlement funding, you can afford to take on new cases, and additional time-consuming work is more worth your while. The long-term payout can be much greater when you have legal funding to back your services.
- You Can Grow Your Law Firm: Many types of businesses secure third-party financing to back their growth. A loan can have many benefits. But post-settlement funding for attorneys is not a traditional loan; it’s a cash advance on the proceeds of a settlement. While awaiting payment, you can hire new staff, expand into new practice areas, and update technology and equipment. You have access to financial resources that are not in your bank account.
- Cash Flow Management: Like any business, every law firm’s goal is to have more cash flowing in than flowing out. Cash flow problems can result if you’re waiting to get paid but must pay rent, bills, and salaries. You’re out of luck if you run out of cash to pay your expenses. Payment may be months away, but post-settlement funding helps prevent cash flow problems now.
- Help with Focusing on Your Strategy: Constantly worrying about money can interfere with your legal strategy. A post-settlement cash advance lets you improve your focus on a case and concentrate on improving and growing your businesses. During a major lawsuit, your firm won’t receive any capital. It can be years before the case settles and you get paid. But that doesn’t mean the work you’ve already done doesn’t count and that future growth isn’t possible.
How Do I Get Attorney Post-Settlement Funding?
When you apply for post-settlement funding, Fund Capital America will make a quick decision. Since you’re already awaiting a payout, it’s easier to determine how much to offer. Approval is usually within 24 hours so you get the financial relief you need, with no down payments, hidden fees, or risks, and can fight clients’ legal battles.