Post Settlement Funding Helps Plaintiffs and Attorneys
Post settlement loans, also known as post settlement funding, are financial transactions where money is advanced after a settlement is agreed upon but before money is received. Plaintiffs and attorneys alike utilize these transactions to provide immediate liquidity when needed.
The Need for Funding
Lawsuits take time. Plaintiffs and lawyers can expect many months or even years before a case/claim is ripe for trial or settlement. Discovery requests and answers, motion practice, trial calendar delays and a host of other delays face litigants and their counsel as they navigate the civil justice system.
Although the wheels of justice turn slowly – eventually recovery is made. From the time of settlement, until the Release of Claims is signed to the possession of the money can still take some time. Most states allow insurers at least 30 days to process settlement checks – some even longer. Other delays are caused by scheduling conflicts with attorneys and their support staff.
How Does Post Settlement Funding Help Plaintiffs?
The biggest benefit of post settlement funding is speed. Often, we are able to fund plaintiffs within 24 hours after application. Although same day settlement loans can and do occur, it is not a given. We discuss what causes lawsuit loan delays in earlier posts. They mostly concern problems compiling necessary documentation and/or scheduling delays. Underwriting post settlement funding is streamlined because in most instances, applications can be approved with a copy of the settlement release and a letter illustrating how the funds will be disbursed once received.
If you have immediate financial concerns and simply cannot wait for your money, we can help. These financial products provide IMMEDIATE financial support so you can meet your obligations. Post settlement financing provides a much needed liquidity option to plaintiffs and does so at a lower cost than traditional lawsuit loans.
How Does Post-Settlement Funding Help Attorneys?
There can be a significant time gap between settling a case and receiving a fee. Post settlement funding allows law firms to access their fees immediately. This cash flow can be used to:
- pay bills
- attract new clients
- expand into new markets
- investing in existing cases
In certain instances, post settlement funding is the perfect solution for lawyers. To find out if this type of funding is a fit for your firm, simply contact us or give us a call.
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How Much Does It Cost?
The good news is that post settlement funding costs less than you might think. Since cases are already resolved, the risk of loss to the funding company is minimized. Since post settlement funding is less risky, the settlement funding cost is less than normal lawsuit loans.
To learn more about costs and fees, please contact us and we’ll discuss your funding options. Our pricing structure depends on the amount of the advance, and the expected time that will elapse before the settlement check is received.
How to Get Started with Post Settlement Funding?
Getting started is easy. Simply contact us or give us a call. One of our representatives will contact you promptly, discuss our services, and if a fit, guide you through the process.
We know you have a choice when searching for post settlement funding companies. We are happy to assist you in any way possible. We are here to help and are at your service.
Thanks for considering Fair Rate Funding for your funding needs.