FAQ on Plaintiff Attorney Legal Funding
FAQ on plaintiff attorney legal funding. Here are some common questions we get about our post settlement advances along with our answers.
Question: Do I have to have a settled case to receive funding?
Answer: Yes, we only fund cases that have reached a settlement – read more here.
Question: What is the minimum attorney fee I should have to receive funding?
Answer: Our minimum advance is $10,000. The minimum attorney fee needed is dependent upon the type of case and duration until the fee collects.
Question: What is the maximum you can provide an attorney on their settled case fee?
Answer: We do not have any limit, but the maximum we can advance is typically around 85% of the value of the fee.
Question: What kinds of settled cases do you provide attorney funding on?
Answer: We can provide funding for all types of settled cases, but the most common are personal injury and class action lawsuits.
Question: Can I get attorney funding on cases that have verdicts or on appeal?
Answer: We do not typically fund verdict cases or ones under appeal but have made exceptions in the past. We can take a look at a specific verdict or appeal to see if it is something we can work with.
Question: Can you provide funding for plaintiff attorneys with judgments?
Answer: Like with verdicts, we typically do not fund judgments, but we have made exceptions before. We would look at any judgments to see if it is something we can work with.
Question: Are you a broker for legal funding to attorneys?
Answer: No, we are not a broker. We are a direct lender and fund all deals ourselves.
Question: How long does the funding process take?
Answer: We can usually fund within a few days.
FAQ on Plaintiff Attorney Legal Funding
Question: When can a plaintiff attorney apply for funding?
Answer: Once there is a settlement that has been agreed to by all parties, we can provide advances on the pending contingency fee if there will be some delay until it is distributed to you.
Question: What type of documentation or paperwork would a plaintiff attorney need for funding?
Answer: We would need documentation of the settlement. We can accept a variety of documents there if it specifies an agreement in the lawsuit and is signed by all parties. We would also need documentation of the attorney fee. Again, we can accept a variety of documents, including a retainer agreement, fee split agreement, lodestar, and others.
Question: If I apply for post settlement funding on a case, is anyone else involved in that case notified about such funding?
Answer: Usually, we would not notify anyone else involved in the case of an attorney’s advance. This includes any co-counsel, plaintiffs, defendants, judges, or defense counsel.
Question: How do you collect what you are owed on any advance?
Answer: Once the settlement has been distributed, we would collect what we’re owed to pay off an advance then from the distributed contingency fee. There is only one payment at the end, with no interim payments owed.
Question: Can I pay off an advance early before the case I applied for is distributed?
Answer: Yes, we will accept payment to satisfy an advance whenever it is possible for the applicant to do so.
Question: Does Balanced Bridge work with plaintiff attorneys where fees are structured to payout over time?
Answer: We have been able to work with structured settlements in certain circumstances. We could look and see if it is something we can work with.
Question: Does Balanced Bridge work with qualified settlement funds?
Answer: Yes, we can provide advances where there is a qualified settlement fund set up.
Question: Does Balanced Bridge provide case cost financing or working capital financing to plaintiff attorneys?
Answer: While we don’t provide funding directly against attorney case costs, many attorneys will use our post settlement advances to pay such expenses for their practice.
Question: Does Balanced Bridge provide lines of credit to plaintiff attorneys?
Answer: We do not provide any line of credit against just pending cases. We offer more of a hybrid line of credit product, where there is a certain mix of cases that would qualify for our post settlement advances – read more here.
Question: Is post settlement funding like structured settlement funding?
Answer: They are similar in the sense that both deal with funding on future settlement receivables. Our post settlement advances are typically in situations where the settlement and the pending contingency fee will be paid in one lump sum. Structured settlements are usually a series of payments, and funding for that will typically be one amount for the right to that future series of payments.
Question: Can my secretary, paralegal, or legal assistant apply for funding on my behalf?
Answer: Secretaries, paralegals, or assistants will often send us the documentation we need to proceed with any funding on behalf of the applying attorney, so we do work with such staff very often. However, any applications, paperwork, or contracts must be signed by the attorney applying for the advance.
Question: Can my co-counsel apply for attorney legal funding?
Answer: We can certainly work with any co-counsel in a case if they are interested in funding. However, we do not reach out to any other co-counsel that may be involved in the case once you apply for funding on it. We also do not notify any co-counsel of any advance you take on the case.
If you are a plaintiffs’ attorney and interested in learning more information about our post-settlement funding advances, feel free to contact us at firstname.lastname@example.org or call us 267-457-4540. If you are interested in funding today, complete our application.