A settlement can provide much-needed financial relief, but receiving the actual funds may take longer than expected. Court procedures, lien resolution, administrative requirements, or delays from defendants and insurers can all postpone distribution. When a settlement remains unpaid, attorneys, law firms, and plaintiffs may wonder whether they can request more than one advance against the same settlement.
The answer depends on the specific circumstances of the settlement, the amount already advanced, and the terms of the funding agreement.
When Additional Funding May Be Possible
Post-settlement funding is based on an existing settlement or judgment that is expected to be paid. Balanced Bridge Funding evaluates each funding request individually and determines how much of the expected settlement proceeds or attorney fee can be purchased and advanced.
If an initial advance has already been provided, an additional advance may be considered when sufficient value remains in the expected proceeds. However, there is no automatic entitlement to receive multiple advances. Each request must be reviewed based on the circumstances of the case and the amount still available.
Why the Remaining Settlement Amount Matters
The amount of a settlement does not necessarily equal the amount available for additional funding. Attorney fees, liens, case expenses, prior advances, and other obligations can affect the funds ultimately available for distribution.
For example, an attorney who has already received an advance against a contingency fee may have less of that fee available for another transaction. Similarly, a plaintiff’s potential advance is based on the expected net settlement award rather than simply the total settlement amount.
Because of these considerations, a funding provider needs current information about the settlement and expected distribution before determining whether another advance is appropriate.
How Multiple Advances Can Be Structured
When additional funding is considered, the existing agreement and any new funding arrangement must be reviewed carefully. Balanced Bridge Funding states that it determines how much of an attorney’s fee it will purchase and how much capital will be advanced. Once the settlement or fee is distributed, Balanced Bridge receives the portion it purchased.
This structure is different from a traditional loan with recurring monthly payments. Post-settlement funding is tied to the expected settlement or fee and is generally repaid when the applicable proceeds are distributed.
Every Settlement Has Different Funding Considerations
Whether multiple advances are appropriate depends on factors such as the remaining settlement balance, expected distribution date, existing funding, and documentation available for review. A provider may also need updated information if circumstances surrounding the settlement have changed.
For that reason, attorneys, law firms, and plaintiffs should not assume that a second advance will automatically be available simply because an initial advance was approved.
Ask Balanced Bridge Funding About Your Options
If you have already received a post-settlement advance and need additional capital while waiting for your settlement to distribute, Balanced Bridge Funding can review your situation.
Balanced Bridge works with attorneys, plaintiffs, and law firms to provide post-settlement funding based on eligible settled cases.
Contact Balanced Bridge Funding today to discuss your circumstances and learn whether an additional advance may be an option for you. To speak directly with one of our post settlement funding experts, please email info@balancedbridge.com or call 267-457-4540.
