California Pre-Settlement Funding Law Practice & Lawsuit Funding
Legal funding, lawsuit funding, or plaintiff cash advances are a process where personal injury plaintiffs get advances against their pending or settled case so they have the funds to cover their expenses while their case progresses.
Oftentimes, clients have pressing financial needs such as their medical care and basic expenses, and are unable to wait for their potential settlement. This can unfortunately force their lawyer to settle their injury claim for pennies on a dollar.
Attorneys benefit from lawsuit funding:
- Protection from “ethical issues” as described in the state bar related to self-funding
- Protects your after-tax income by allowing us to take the risk for you
- Increases law firm cash flow by allowing you to refinance advances which are self-funded or by other funding companies
How does California plaintiff lawsuit funding fit in my law practice?
As you may have experienced, you have to expect the unexpected in the law profession, especially while navigating what could be a long process in getting the best possible settlement for your injured client. You can’t allow for the insurance company to hold out in settling a claim while your client is slowly drowning in anxiety over their bills and other financial responsibilities.
Like other key providers you have gathered as part of your network in your practice, a law firm must add settlement funding, like FCA Legal Funding, a 3rd party provider of cash advance services your clients desperately need while waiting for you to negotiate and / or litigate their claim. This is not something that at law firm should get themselves involved with since their core competency is to get the claim settled for the most amount of money possible.