BP Lawsuit Funding & Fee Advances for Attorneys, CPA’s, and Claims Processors
In April 2010, the Deepwater Horizon oil rig exploded off of the gulf coast, which crippled the local economy, eradicated coastal wetlands, and fractured countless wildlife habitats, many of which are still struggling to recover.
Numerous individuals and business owners were affected by the BP oil rig explosion. Business owners, especially those whose businesses are located offshore, suffered great financial loss as a result of the Deepwater Horizon explosion.
BP has agreed to settle claims with business owners affected by the rig explosion, individuals who have lost their means of subsistence, and individuals who have physically suffered as a result of exposure to oil, dispersants, or substances used to clean up the spill. However, more people have filed claims than BP initially expected, so settlements are paying out slowly.
As of July 2015, only 3% of all claimants have received their awards. Some attorneys estimate that after an individual or business files a claim, it will take between 12 and 18 months for that individual to see their award. As a result, plaintiffs’ attorneys and other professionals involved with the litigation on a contingency fee basis, including CPA’s and claims processors, must wait even longer before they receive payment of their fees.
BP Lawsuit Funding: Accelerating Delayed Contingency Fees Tied to BP Oil Spill Litigation
We offer fee and lawsuit advance funding for attorneys, CPA’s, and claims processors who have been involved with the BP lawsuits. Here’s a quick rundown about how our funding process works:
- You have been representing claimants in the BP Oil Spill Litigation, and have not yet received your fees.
- Balanced Bridge purchases a portion of your expected fee.
- Balanced Bridge then provides you with an advance based on this portion of your fee.
- Once the settlement pays out, Balanced Bridge is paid back directly from the attorney who operates the claims portal.
- Because we only purchased a portion of your fee, you are still paid the rest.
A BP settlement advance will enable you to cover any necessary costs while you wait for fees to pay out. For attorneys, CPA’s, and claims administrators, BP lawsuit funding can help you seek new business and cover daily expenses.
Our BP Fee Advances are NOT Loans
Balanced Bridge offers non-recourse post-settlement advances. Unlike a loan, our advances on your fees grant you accelerated access to your own money, so you will not have to worry about making monthly payments to a lender.
We Accept ALL the Risk
And don’t worry about what might happen if the obligor suddenly can’t pay the settlement — We Accept ALL Risk of Non-Payment, meaning that you will still get to keep the money from your advance.
Fast, Friendly Application Process
If you think our BP lawsuit funding solution could be the right fit for you, please call one of our finance experts at 267-457-4540. Or to apply online, simply fill out our quick form application.