Both plaintiff attorneys and plaintiffs can benefit from post-settlement funding when they are stuck waiting on delays after a settlement has been reached in a case. Post-settlement advances provide funding against those pending fees or awards for those that can’t afford to wait until final distribution.
Plaintiff Attorneys Waiting on Contingency Fees
Plaintiff attorneys typically receive contingency fees on cases, meaning they receive some percentage of the settlement once a case has been resolved and funds are distributed.
However, even after a case has settled, law firms may face delays in receiving those fees. During that time, those firms must continue covering expenses such as payroll, other pending case costs, and operating expenses. Settlement delays can cause gaps in the law firm revenue stream, making the business-side more challenging.
Post-settlement funding provides an advance against the pending contingency fee, allowing lawyers to maintain financial flexibility while waiting for final payment.
Plaintiffs Waiting for Settlement Awards
Plaintiffs can also feel stuck while waiting for their settlement funds to be distributed. Settlement payments are sometimes delayed by administrative processes or legal requirements, leaving claimants waiting longer than expected.
Post-settlement advances give plaintiffs funds against a portion of their pending settlement award to help with everyday expenses, medical bills, or other financial needs while they wait for final distribution of that award.
Why Do Post-Settlement Payment Delays Happen?
Even after a case has settled, several factors can delay the final distribution of funds, including:
- Waiting on lien resolutions, including Medicare liens
- Waiting for final approval from a judge
- Waiting for approval from a committee or government entity
- Slow-paying defendants
- Administrative processing that take time to complete
These and other factors can extend the time between a settlement agreement and the final payment.
How Post-Settlement Advances Help
Post-settlement funding provides funding against the pending fee or award and gives attorneys and plaintiffs capital to use now, instead of waiting months for distribution.
The funding process is usually simpler than other legal funding options. Here at Balanced Bridge, we typically don’t require any business or personal financial statements, just documentation of your settlement and the fee or award expected.
Post-Settlement Funding From Balanced Bridge
Balanced Bridge specializes in post-settlement advances for plaintiff attorneys and plaintiffs waiting on delays of settled contingency fees and awards.
Our post-settlement advances are among the lowest-cost options in the legal funding industry and typically require less paperwork and fewer qualifications than many traditional financing products.
If you are stuck waiting for settlement funds to be distributed, a post-settlement advance from Balanced Bridge helps bridge the gap.
Contact us today at Balanced Bridge to learn more about available post-settlement options for your case or cases.
