Attorney Funding for California Law Firms
FCA Legal Funding helps attorneys obtain non-recourse lawsuit funding, often within 24 hours. We use only the facts of the case to determine how much to provide. Gone are the days when you had to resort to business financing, which is often hard to obtain. We provide attorney pre-settlement funding in California to cover a variety of expenses. You can therefore serve your personal injury plaintiffs, who in turn benefit from funds to cover their expenses while a case is pending.
What Is Attorney Funding?
Attorney funding is not a lawsuit loan. It is a form of case funding or lawsuit financing, a non-recourse investment to help you take on a case. Nothing is paid out of pocket, by you or your plaintiffs. The principle, fees, and terms are determined on a case-by-case basis. Our underwriter can estimate the value of the case, the financial impact of plaintiff’s personal injuries, and how much the legal process will cost.
Lawsuit funding can be used pre-settlement or post-settlement. At FCA Legal Funding, we know the process before, during, and after a case settles can be long and costly. We have therefore developed a funding process, so your firm has capital right when you need it. Attorney funding is a financial solution that can help both your law firm and your clients.
Why Should I Apply for
Legal funding is more advantageous to law firms and plaintiffs than loans. There are no application fees, credit checks, or other factors to inhibit your search for financing. The process also does not require paperwork, adding efficiency and environmental sustainability. Funding expedites the legal process as well, from filing claims to discovery, to bringing in expert witnesses and even going to trial, if necessary.
The benefits of legal funding for your firm also include:
- More capital than a traditional litigation finance company or bank.
- Coverage for expenses like payroll, operating costs, advertising, discovery, etc.
- Funds are repaid only if the case wins, out of the settlement amount (term-based payback).
- No out-of-pocket costs, hidden fees, or middlemen.
- A fast, hassle-free application and approval process.
- You can afford to work on a contingency fee basis to serve your clients.
A legal case, even if it doesn’t go to trial, can last for months or years. Without a means to predict the outcome, legal funding is needed to cover the costs. This gives your firm more spending power to take on insurance companies with massive budgets to hire the best attorneys and maintain their position.
Types of Funding Available
FCA Legal Funding also offers funding options to plaintiffs, which enable attorneys to continue cases and follow through to a personal injury settlement. Our options for litigation financing include:
Pre-Settlement LoansMore a cash advance rather than a traditional loan, legal funding does not impose strict payment terms and tight deadlines. There is no income or credit history check. Personal injury clients often face time out of work and a mountain of medical bills, so are not able to afford legal costs. Funding is determined using relevant case information along with witness accounts, police reports, medical records, and other documents plus details from accident attorneys. Our underwriters use this information to make a no-obligation offer.
Post-Settlement FundingOnce your case reaches a settlement, that does not mean your plaintiff will be paid right away. Securing the proceeds can take a while. Appeals and defendants who are less than eager to pay up can delay the process. Rent, mortgage, and medical bills will still be due. Auto accident and product recall cases take longer to pay out, as do those involving an insurance company or the state of California. Higher settlement amounts, the number of plaintiffs involved, and the terms of the payout can affect the timeframe as well.
FCA Legal Funding: Reputable Pre-
Settlement Funding Team
What your law firm needs to know:
- Your client can get approved and funded the same day if we get the necessary signatures
- Applications can be done over the phone in less than 7 minutes
- Approval requires accepted liability, a copy of the police report, medical bills summary with amounts, and images
- FCA gets paid when the case settles and assumes the client’s position up to the amount due with the balance going to the client
- FCA will reduce the payment to a portion of what everyone else does should the case not settle as expected
- If the case is lost, the client owes nothing to FCA
Oftentimes, clients have pressing financial needs such as their medical care and basic expenses, and are unable to wait for their potential settlement. This can unfortunately force their lawyer to settle their injury claim for pennies on a dollar.
What Your Firm Stands to Gain with FCA Legal Funding
- Protection from “ethical issues” as described in the state bar related to self-funding
- Protects your after-tax income by allowing us to take the risk for you
- Increases law firm cash flow by allowing you to refinance advances which are self-funded or by other funding companies
Litigation funding for attorneys can benefit the legal process in many ways. For a lawyer, it can cover office expenses, so your team can move forward. Litigation expenses may also be covered. Litigation, from discovery to trial, can cost more than most clients can afford. Most personal injury clients are in a tough financial spot. Attorney funding can bypass this issue, allowing the case to continue.
It can take weeks, months, or sometimes years to settle a case and get the money. No matter how long it will take, litigation financing can support the case, attorney’s financial requirements, and the client’s needs until they are paid, allowing the client to proceed with a case.
Cases We Fund
We can provide litigation funding for a wide range of cases so there is less pressure on your client, including:
Pharmaceutical Drugs: Consumers assume pharmaceuticals (both prescribed and over-the-counter) are safe. However, improper formulations and dosages, harmful ingredients, and mislabeled packaging can put them in harm’s way. Legal cases have involved lawsuits against makers of GranuFlo, Xarelto, and talcum powder.
Options for Litigation Financing for Attorneys
We offer a couple of options, both which are a more practical and affordable alternative to a lawsuit loan for attorneys.
- Attorneys often encounter clients who are short on cash. They are often facing unanticipated financial burdens, which can force them to settle early or avoid a case. Whether your client has a previous cash advance or your firm has self-funded them, we can refinance the advance similar to how home mortgage loans are refinanced.
- n the process, a new advance is created with a different term and lower fees. The overall cost of the advance is reduced. If you’ve funded your client, you can shift the risk to FCA Legal Funding. You may also qualify for an additional advance, meaning a greater cash out and more financial support for your client.
- Settlements sometimes take years to reach, but our settlement acceleration program works like a reverse mortgage, so you get funding and pay it back only under certain circumstances. Cash, pulled from a future settlement, is paid back as a percentage of the final settlement amount.
- Pre-settlement funding for an attorney doesn’t require a credit check. Approval is based solely on the facts of the case. The funding is a sort of future asset, and similar to home equity. Better yet, there are no restrictions on how the settlement advance is used; it can be applied to litigation expenses, debt, medical bills, rent, and more.
California’s Lawsuit Cash Advance Specialists
We are currently helping a significant number of attorneys in California with lawsuit cash advance requests from clients unable to pay their daily expenses. These advances afford attorneys ample time to negotiate higher settlements by not being forced by the client to settle prematurely.
This program has been misclassified as many things such as an accident or lawsuit loan; however, unlike a loan, no collateral or review of an applicant’s credit profile is necessary to qualify for funding since funding is based on the merits of the case. Furthermore, with pre-settlement funding in California, the plaintiff pays a previously determined amount based on potential proceeds upon actual settlement.
Attorney Lawsuit Funding FAQs
- Copy of the Police Report / Incident Report
- Policy limits
- Summary of the medical bills
- Images (if available)