If you have never recommended pre-settlement lawsuit funding to your clients, you understandably have questions about the processes, timelines, and terms and conditions involved. Here is an overview of what you can expect when your clients apply for legal funding from Florida-based Injury Funds Now:
The American Bar Association (ABA) and many state bar associations around the country have issued opinions approving attorneys’ recommendation of non-recourse funding to their clients. Of course, each opinion is different, and attorneys should review the relevant opinions to ensure that they adhere to the applicable ethical requirements.
For example, the Florida Bar Board of Governors has stated:
“An attorney may provide a client with information about companies that offer nonrecourse advance funding and other financial assistance in exchange for an interest in the proceeds of the client's case if it is in the client's interests.”
The confidentiality rules that govern other areas of attorneys’ practices generally apply in the context of providing case information to a lawsuit funding company. As a result, the Florida Bar Board of Governors has expressly stated that attorneys, “may provide factual information about the case to [a] funding company with the informed consent of the client.”
While some legal funding companies work with independent brokers, at Injury Funds Now we handle the entire application and funding process in-house. We treat all case-related information as strictly confidential, and we use it solely for the purpose of determining clients’ funding eligibility.
If you are like most personal injury attorneys, you may have to help a financially distraught client understand that it may not be in their best interest to settle too quickly, but rather to keep fighting in order to maximize their financial compensation. If your client’s desire to settle is driven by financial constraints, you can recommend Injury Funds Now knowing that we can fund clients’ case in as little as 24 hours.
At Injury Funds Now, we are very careful not to overfund a case. It is very important that the funding amount never exceed a very small percentage of what we estimate the total gross recovery to be. Our analyses are extremely conservative, as are our funding limits. Just as we want you to have the time you need to negotiate the highest possible recovery, you also need to be able to settle when the time is right. Your attorney’s fee is never affected by your client using our service (except we hope in a positive manner!) and both clients and attorneys can benefit significantly when the funding amount is conservative and you are working with a funding firm that is both reputable and experienced.
Based in Florida, Injury Funds Now provides pre-settlement lawsuit funding to personal injury clients in 38 states nationwide. If you would like more information about our services, please call 1-866-68-FUNDS (38637) or use our contact form today.