If you are apprehensive about recommending lawsuit funding to your clients, you are not alone. Many attorneys have reservations about pre-settlement funding services, often borne out of bad prior experiences and involving unestablished funding companies that use predatory practices to strip clients of their hard-earned compensation.
But, the reality is, with the right funding company, lawsuit funding offers numerous benefits. When lawsuit funding is utilized appropriately, clients can restore their financial confidence, easing the pressure to settle for less than what they truly deserve. When the service is used in the right way, it can be a huge advantage not only to your client, but to you as their attorney as well. For that very reason we have laid out some of the benefits for you here.
We all know that defense insurance companies drag cases out as long as possible, hoping that after a few years pass, your client may find themselves in such a desperate situation, that they may be forced to accept a low settlement offer. With modest and appropriate use of lawsuit funding, that no longer needs to be the case. If your client has the staying power they need to cover every day expenses, that can buy you time to get the recovery your client truly deserves.
As you probably know, when clients need money, they often need it right away. Most plaintiffs simply do not have the financial stability to go for months or even years without earning income. With lawsuit funding from Injury Funds Now, your clients can receive the money they need to alleviate the stress of financial instability within as little as 24 hours. Clients can use the funds to take care of every day expenses from mortgages to rent, medical bills, food, gas, school supplies, whatever their needs may be. Removing this financial pressure can be a big help in their healing process. These funds will not only assist in alleviating your clients’ ongoing financial concerns, but they will also work to help lessen the number of calls you receive from anxious clients and give you the time necessary to focus on obtaining the just compensation they need.
Recognizing the benefits of nonrecourse plaintiff funding, the Florida Bar says that an attorney may recommend nonrecourse funding, if it is in their client’s interests. With client consent, attorneys are also authorized to provide case information to lawsuit funding companies to assist in determining funding eligibility.
With Injury Funds Now services, clients pay our fees, not attorneys. Upon a successful recovery, IFN is paid from the total gross recovery, after attorney fees and expenses, and statutory medical liens. We do not charge application fees, underwriting fees or other hidden costs, and we offer both flat-fee and monthly fee structures. As our fees are lower than many other national funding companies, we even offer a Best Pricing Guarantee.
Finally, Injury Funds Now does not seek to get involved in any aspect of the case. One of the many factors in our decision to fund a case, is the ability of the attorney handling the matter. Once we have decided to fund the case, we have no say on how you handle it, when you settle, or any matter involving how the case is handled. We are confident in our case assessments, and we trust our clients’ attorneys to do the best job they can to win just compensation.