Copy of How to Get Legal Funding: Just The Basics
- nsaia4
- Sep 29, 2022
- 2 min read
"What is legal funding? "
Legal funding started in England and Wales some time ago but is relatively new to the United States. When a plaintiff has been injured and is waiting on compensation from their case, legal funding can offer an advance to help offset financial problems resulting from the injury, or other such urgency. According to the American Legal Funding Association, 62% of legal funding advances are used to avoid a foreclosure. It is primarily used as a last resort when other options have been exhausted.
"Who is eligible?"
Victims of accidents with credible personal injury claims can apply for legal funding to help make ends meet. A victim must have retained legal counsel and must have officially filed their case prior to applying for legal funding. Additionally, consumers must go through an underwriting process to qualify for a pre-settlement cash advance.
"Is it a loan?"
No, it is not a loan because of three important factors: 1. If the client receives no settlement from their case, the advance does not need to be repaid. 2. Legal funding requires no collateral. 3. Legal funding does NOT impact a credit report nor is a credit report used in rendering a decision to offer funding.
"Is my client a candidate?"
Use your best judgment, but most candidates will likely let YOU know by frequently articulating their desperate needs for financial resources. Additionally, if the client is pressing you for a faster settlement than you may feel is appropriate then a “stop-gap” could be useful while you take the time to negotiate a better settlement figure. Please have them call Capital Legal Funds, LLC at 833-386-3763 for a quick and thoroughly painless application process that requires no credit check or collateral. The application can also be submitted online at: www.capitallegalfunds.com
"Why Capital Legal Fund, LLC ?"
Simply put, we treat your clients like you treat them. We understand that legal funding should only be used as a last resort so we only want to help those people truly in need. Additionally, when the time comes we want to help your law firm do whatever we can to ensure all parties are treated fairly. The trust you place with us to treat your clients with respect is something in which we take immense pride and we will endure every pain to be faithful stewards of your references.
Rick Peek
Sales Director
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