Plaintiff Attorney Funding – Discreet, Fast, Professional Legal Funding for Plaintiff Attorneys
Plaintiff Attorney Funding – plaintiff attorneys often wait months or even years to receive payment for their hard work. It may take years for a business, person, or entity to pay off a settlement or judgement.
Every aspect of a law practice, from building a new case, to seeking out new clientele, to routine office maintenance, requires access to capital. Plaintiff Attorneys must pay expert witnesses, cover advertising costs, and maintain a regular payroll, and more. This is hard to do while you are waiting to be paid from all of the cases you’ve already won.
A law firm is a business, and businesses need liquidity to operate. For law firms to achieve growth, they must take on new cases as they arise. Plaintiff Attorney Funding is a great way to manage capital and leverage your future growth.
Our Plaintiff Attorney Funding Solutions are tailored for these exact situations. We are here to help your law firm keep going, and more importantly, to keep growing.
Plaintiff Attorney Funding – Post Settlement
Post settlement funding is for plaintiff attorneys who need to manage cash flow, finance operations, and keep their law firm going while they wait to be paid from cases they win.
What is Post Settlement Funding for Plaintiff Attorneys?
Post settlement funding for Plaintiff Attorneys is a financial vehicle plaintiff attorneys can use to receive advances on upcoming contingency fee payments from a settlement award, which might otherwise take a long time to pay out, hampering their cash flow and operations.
Who is Post Settlement Funding For?
Post Settlement Funding for Plaintiff Attorneys is used by large law firms to “leverage” their future growth. Post settlement funding is also used by smaller law firms or solo law firms to finance operations and manage cash flow while they wait to receive their contingency fees from settlements and awards.
Post Settlement for Plaintiff Attorneys – Funding Strategy for Growth
At Balanced Bridge Funding, we are professional, courteous, and discreet. Our clients like to keep their financing activities private, and we respect their wishes. When you work with us, you work with a group of true professionals with many years of legal funding industry experience.
How Does Post Settlement Funding for Plaintiff Attorneys Work?
You, the law firm, are awaiting payment from a settlement or award after reaching a favorable outcome for your client. We (Balanced Bridge Funding) purchase a portion of the amount owed to you (at a discount) and give you the money.
How Does Balanced Bridge Funding Get Paid?
When the settlement pays out, Balanced Bridge Funding is repaid what it is owed directly from the case administrator, lead counsel, or from the escrow account. You are paid any remainder owed to you. Remember, we purchased this asset from you. It is ours, and our responsibility to collect what is owed to us from the settlement or award.
Is Post Settlement Funding for Plaintiff Attorneys a Loan?
Post Settlement Funding is NOT a Loan.
Although post settlement funding is often referred to as a loan for lawyers, it is not. We are purchasing an asset from you at a discount rate. The terms might seem like semantics, but they matter.
Some states have passed bills just to specify that legal funding does not in any way meet the criteria of a loan and cannot be called a loan.
Example: In 2020, Utah passed HB 312 that specifically states post settlement funding does not meet the definition of a loan or credit. (source)
Unlike a loan, post settlement funding does not have any monthly or interim payments to a lender. When your case finally pays out, your obligor pays Balanced Bridge Funding directly.
What Type of Settlements Does Balanced Bridge Funding Offer Post Settlement Funding On?
We fund all types of settlements where there is a delay between time of settlement and actual payment. Here are just a few (not all) types of settlements we will fund:
- Class Actions
- SSDI
- Veterans Disability Claims
- Sexual Assault
- Infant Injuries
- Product Liability
- Personal Injury
- Truck Accidents
- Mass Torts
- Multi-District Litigation
- Employment Discrimination
- Wrongful Death
- Slip & Fall
- Medical Malpractice
- And More!
Chances are, if you are going to receive a settlement or award, you can receive post settlement funding from Balanced Bridge Funding.
Is Post Settlement Funding for Plaintiff Attorneys Regulated?
As of 2022, there is no federal regulation for third party litigation funding. Some states have begun considering regulation, and so it is reasonable to expect regulation in the future and for those regulations to differ by state.
The legal industry is working on policing themselves (as they tend to do). The American Bar Association (in 2020) issued a report of “best practices” for third party litigation funding.
The Legal Funding industry has made a great deal of progress policing itself. There are at least two associations now in the Legal Funding Industry. The Alliance for Responsible Consumer Legal Funding, and the American Legal Finance Association (ALFA).
Law Firm Line of Credit: A Solution for Plaintiff Attorneys Who Want Their Businesses to Grow
Balanced Bridge Funding offers an attorney line of credit for contingency fee law firms and solo practitioners. An attorney line of credit can help your business thrive. A line of credit for attorneys can reduce financial stress, allowing you to focus on securing new clients, and funding the future growth of your law firm.
How a Plaintiff Attorney Line of Credit Works:
Balanced Bridge Funding will evaluate your case inventory, which we accept as collateral (some portion of your case inventory needs to be settled cases so there is a defined cash flow).
Based on that case inventory, Balanced Bridge Funding will issue a law firm line of credit. You can withdraw from this line of credit to finance any aspect of your legal practice.
If you have sufficient collateral, you can extend your line of credit at any time, allowing your line of credit to grow as your business grows.
A Law Firm Line of Credit Specifically Designed for Contingency Fee Law Firms
A law firm line of credit is designed to help contingency fee attorneys who may not have physical collateral, but instead have case inventories with high potential outcomes.
Bank lines of credit are hard to qualify for without physical collateral and a high credit score. And even if you do qualify, you are unlikely to receive the amount of capital you really need.
Unlike banks, we believe case inventory is excellent collateral. In fact, your case inventory is the main thing we look at when determining your line of credit, not your personal assets.
Does Balanced Bridge Funding Belong to an Association?
Yes. Balanced Bridge is a member of ARC – The Alliance for Responsible Consumer Legal Funding.
Quick and Discreet – Hassle Free Application Process
Call: 267-457-4540 to speak to one of our legal funding experts.
