Traditional Financing Has Disappeared
In today's tough economic times, traditional funding sources for attorneys and lawfirms seeking short term capital to maintain or grow their business, are practically non existant. Good News! Attorneys and lawfirms that need cash to remain solvent for the duration of their cases, and to avoid premature settlement on those cases is available!
Sometimes, even the most successful attorneys and lawfirms have peaks and valleys in their cash flow. There is often a need to pay for an expert witness to substantiate a client's case, along with other litigation expenses.
By matching the timing of loan repayments with the settlement of specific cases,
lawsuit funding programs help to avoid cash flow problems. Payments are not required until each individual case is brought to it's initial resolution. There are no monthly interest payments on the entire balance provided to the firm, as there is with traditional financing. Attorney/lawfirm loans can help the business to grow and relieve financial burdens.
Ethics codes state that interest expenses incurred during litigation, are re-imbursible to a firm as a cost of litigation when a case has been successfully litigated. This results in the firm only having to pay interest when the case is not favorably resolved, and also results in greatly reduced interest when compared to traditonal financing.
About the Author:
Linda Hughes, is Chief Operations Officer at Freedom First Funding, and is a full service legal funding broker and can help your firm find the necessary funding needed to avoid premature settlement on your cases.
Free Consultations Call toll free: 877 386 3374
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