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For the academic year 2019 to 2020, the average annual cost of private law school was a staggering $49,548. That’s the bare midpoint cost per year, and law school takes at least three or four years to complete. That means law students pay a minimum of $150,000 to $200,000 to get their education.Most studends have to at least consider How to Get a Law Firm Loan

These education expenses don’t end with law school, though, as there’s higher ed to think about too. Many



graduates have to take law specialization courses as well.

So, it’s no wonder that law firm loans have become the norm for startup practitioners. Without legal funding, it would be close to impossible to launch a new legal practice.

Ready to begin your legal funding application? Then be sure to read this guide first!


1. A LAW FIRM LOAN Loan Can Help Your Startup Succeed

If you’re thinking of starting your own law firm, a business loan can help you succeed. A study found that loan-backed businesses had twice the revenue. That’s in comparison with companies without any form of credit at all.


2. Traditional Lenders Want to Know What You Need the Loan For

Do you need the funds to cover monthly office expenses, such as rent, utilities, and research? Perhaps you need funding for filing fees, insurance, payroll, or other operating costs. You may even need TO GET A LAW FIRM LOAN  to cover the advances and deposit for the actual office itself.

It’s crucial to make a list of all these expenses as traditional lenders will ask you what you need the loan for. For instance, many banks will want to know if the money you’ll borrow will go toward rent or equipment costs. The Small Business Administration (SBA) has even more stringent requirements.

If you don’t want to go through all these, non-recourse solo attorney case loans are your better option. These come with more relaxed lending standards, and you can use the funds for whatever you need. You can even use the cash to cover your law firm’s advertising and marketing expenses.



3. Most Lenders Would Review Your Credit Score

In the US, almost one in five young people (18 to 22 years old) don’t have a credit report. Those who do (such as those who already use credit cards) have an average credit score of 672. By Experian standards, that’s below what classifies as a “good score.”

If the same goes for you, you’re likely to have a hard time qualifying for a bank-issued business loan. Credit scores, after all, are one of the most crucial factors to be eligible for traditional loans. If you don’t have a credit score of at least 700, most business lenders will say no to your application.

This isn’t the case with law firm financing programs from legal funding lenders. They’re not like usual business loans, as they don’t require an in-depth look at your credit history. Instead, they will base your qualification on the merits of your pending cases.

4. Business Bank Lenders Also Look at Cash Flow

When reviewing applications for small law firm loans, most lenders look at cash flow too. This is a measurement of the amount of expendable cash that a borrower has. It has to be dispensable, as traditional lending firms will consider this as a way to pay back what you owe them.

These lenders often don’t grant business loans for law firms if the borrower has too little cash on hand. Unfortunately, most lawyers who want to start their own firm fit this bill. For many, a lack of cash flow is the reason they need to take out a loan in the first place.

Non-recourse legal funding for attorneys and law firms won’t require this from you. They understand that many attorneys are still paying back their law school loans. After all, as many as six in 10 student debt borrowers say they’ll be in their 40s by the time they pay off all their debts.

Instead, legal funding firms will only have to verify the success potential of your cases. If the lender sees that your claim has a strong possibility of winning, you’re likely to get the funds you need.

5. How You Get Paid Matters to Most Lenders – but not so for law firm loans

Many lenders may also be unwilling to extend credit to contingency-fee lawyers. In such cases, litigators who act for plaintiffs often don’t get paid for weeks and even months. At the very least, personal injury settlement checks can take up to six weeks to release.

Some cases, such as wrongful incarceration, can even take several years to settle.

It’s because of this payment structure that most lenders shy away from such attorneys. There are too many variables in contingency fee-based cases, all of which are too risky for banks.

As such, if your firm focuses on personal injury, consider cash funding on litigation. Lenders that specialize in legal funding make decisions based on the laws itself. It won’t matter if your cases will take months to settle; what matters if it has a high likelihood of




6. How Soon Do You Need the Funds?

The current health situation has led to numerous delays in the justice system. Many courts, including the Supreme Court, even went on a temporary closure. For guilty defendants, this is great news, but terrible for attorneys and plaintiffs.

If the backbone of the justice system itself had to close, then you can expect lenders to have been the first to do that. They continue to operate, yes, but they do so with a skeletal workforce. As a result, it can take even much longer to process business loan applications.

The thing is, most lawyers and plaintiffs cannot afford to wait for an uncertain period of time. Mortgages, rent, utilities, and basic needs won’t stop just because of the lockdown.

This is where the quick turnaround time of litigation funding firms come into play. Lawsuit Cash 911, for instance, issues non-recourse loans within 24 to 48 hours. The team will process your application right away, and if you qualify, you’ll get the funds in just one or two days.

7. How Do You Plan to Pay Back the Loan?

When comparing your law firm financing options, consider their repayment structure. As with most traditional loans, these come with monthly interest rates. With such funding programs, you’d need to repay the lender every single month.

Even a single delayed payment of these loans can already damage your credit score. If you took out a secured loan, failure to pay it back would lead to the loss of the collateral. The secured loan lender will take possession of the security as a means to recoup your unpaid loan.

This can have a devastating impact on your law firm, especially if you used essential assets. You risk losing much of what you’ve invested in your practice due to the non-payment of secured loans.

If you fail to repay a non-secured bank loan, then your entire financial future will suffer. Your credit score will drop, and you’ll have a hard time applying for other loans.

If you’d rather not risk any of your assets, then custom solo attorney loans may be better suited for you. You’d only need to pay back a non-recourse litigation funding program if you win the case. If not, the lender won’t pursue you for repayment.

8. Factor In When You Need to Repay the Lender

As mentioned above, most traditional loans require monthly payments. Specialized litigation funding, on the other hand, usually only have a one-time repayment. You’d only need to pay back the latter if and when you win the lawsuit for your client.



9. The Need for Continuous Access to Financial Resources

Since most lawsuits take months to years, it’s best to have access to continuous funding. A line of credit account custom-designed for your law firm is one of your best options. With this, you’d always have resources to tap for any ongoing expenses.

10. Law Cash 911 Only Need Three Basic Requirements

Law Cash 911 provides attorney practice loans and tailored loans for law firms. These litigation funding programs are non-recourse and act more as a cash advance than a loan. Meaning, you don’t have to worry about monthly repayments or paying back the debt at all if your case doesn’t win.

Law Cash 911 will not base your eligibility on credit history, cash flow, or outstanding debts. There are only three primary factors you’d need to qualify for legal funding.

First, the active lawsuits that you’re handling should have established merit. The defendant of these cases should also have a strong financial foothold. They should be capable of paying the settlements or have adequate insurance.

The third factor is the amount of damages that you and your client is suing for. The more significant this is, the higher the likelihood of legal funding qualification.

Raise Your Law Firm’s Chances of Success With the Best Law Firm Loans Now

As you can see, there are a lot of factors that traditional lenders of law firm loans take into account. If you don’t meet even just one of these, especially credit score, you’re unlikely to get a yes from them. Law Cash 911 won’t put you through the same hoops and stringent



loan application process.

If you need funding for your law firm as soon as possible, we are ready to help. Apply for your attorney and law firm funding loan with us, and we can get you the funds you need in as little as 24 hours.

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Low Cost Pre Settlement Loans


Lowest Rate Pre Settlement Loans

Lowest Rate Pre Settlement Loan


Sixteen million lawsuits are filed every year in the United States. If you’ve recently filed a lawsuit, you understand that it can take a while before you get the compensation you’re owed. When in need of cash to tide you over until you receive your settlement, a lowest rate pre-settlement loan is a great option.

Lawsuit funding companies regularly advertise lawsuit loans, but you shouldn’t jump to the first company you encounter. The lawsuit loans can be very costly make sure you understand the cost and decide if you really need one, then look for one with the best terms.

Are you finding it challenging to settle on a pre-settlement funding loan at a rate that works for you? Here are the top tips and strategies to help you find a low rate pre-settlement loan funding.

Learn How Lowest Rate Pre-settlement Funding Loans Work

The plaintiff in a pre-settlement loan can be part of a class-action lawsuit or may be involved in a personal injury suit (i.e., slips and fall, product liability, auto accident). Depending on the contract the plaintiff has with the funding company, the plaintiff should pay the loan once they receive the settlement.

Since the plaintiff has to pay back the loan, they will never incur any additional costs over the settlement awarded. Meanwhile you want to preserve your settlement money, Be careful as borrowers can sometimes pay up to 60% in interest rate per year. That’s why it’s essential to be aware of the terms and conditions of the contract the next time you decide to take a lawsuit loan.  However, you are assured of enjoying the pre-settlement loan benefits.

Consider the Interest Type

Some lenders use compound interest charged on the interest that builds over time, while others use simple interest (based on the principle of the loan). While both may be a viable option, it’s good to know the interest you’re going to be charged before agreeing to anything.

Most funding companies are unregulated and sometimes charge high rates for funding. That’s why you should be wary of unfavorable terms and high rates. Go for companies that charge simple, non-compounding rates. If you settle for a company that charges 3% monthly compounded with substantial fees (10%), it means that you’ll be paying aboiut 50% extra on what you were given in the first year.

If you settle on a company that offers a simple, semi-annual rate below 39%, it means that you’ll be paying less than 40% in the first year (Keep in mind origination costs are only paid for the first year). This may seem expensive, but still more than 90% or more contracts in the legal industry charge more than 40% per year.

When evaluating the interest rate for your pre-settlement loan, take note of hidden charges. If a company offers 20% with fewer fees and another at 22.2% with low fees, the slightly higher rate may be worth it. Any reputable company shouldn’t have hidden fees. Everything should be communicated during the initial inquiry and laid out in the contract.

Be Careful of Bad Deals

Be Careful of Bad Deals

Check for Any Red Flags

Did the company start this year, and you can’t find information about them online? Are they vague about their interest rates? Does the company advise you not to consult with your attorney? Take note of shady situations and red flags.

Understand that not all companies are the same, and regulations fluctuate by state — you should use your own judjment . Also, watch out for lawsuit lawn sharks. If the company you’re choosing refuses to answer questions when it comes to fees and interest rates, that’s a bad sign.

Once you’ve been given a contract, take a closer look at the fine print. After carefully examining the contract, you’ve got to know what rates and fees you’ll be charged. If you can’t do the math and confirm the payoff number with your attorney, don’t sign! Wait for Your Lowest Rate Pre Settlement Loan

Ask Tough Questions

If you’re to settle on a reputable company, you should be bold enough to ask tough questions. While you may be convinced by how quick and fast you can get that cash advancement, not all lawsuit companies are straightforward with their fees and rate. That’s why you should get a pre-settlement funding qupte in writing.before you do snything.

Some of the critical questions to ask include:

  • Is it simple or compound interest?
  • What interest rate do they charge?
  • Do you have to pay back the cash advance if you don’t receive a settlement?
  • Will you have to pay back the loan if it exceeds your settlement?
  • Did you find the lowest rate pre settlement loan?

Also, have your lawyer present when you ask the lawsuit loan company these questions.

Read Reviews Online

Reading different reviews online gives you a glimpse of how the lawsuit company operates and whether it’s legitimate or not. Take note of companies that have mostly negative reviews or all 5-star reviews. Draw the line before reading any reviews. If the reviewer complains of the lawsuit loan not providing a larger loan, this probably won’t be over the line for you.

Understand the Lawsuit Regulations in Your State

The regulation on lawsuits depends on the state you reside in. That’s why you should familiarize yourself with state laws and regulations. There are states where settlement loans aren’t considered as loans. This makes it easier for pre-settlement companies to skirt around usury and fair-lending laws.

With some states having almost no regulatory oversight, you should know what the lawsuit firms in your area can or cannot do. Speak to your attorney if you have any in-depth questions.

Direct vs. Broker Settlement

If you’re to get a pre-settlement loan, you should get it from a direct lender than through a broker who then puts you through to the lender. This way, you’ll avoid waiting longer and paying more to get the cash you need.

Get a Pre-Settlement Loan with Less Hustle

Getting a pre-settlement loan is easier if you work with a reputable lender who has your best interest at heart. However, you should be cautious and watch out for any red flags. This will help you avoid getting duped. Ask candid questions and read reviews online, and you’ll find it easy to settle on a pre-settlement funding loan for you.

Your Go-To Lowest Rate Pre-settlement Loan Company

When it’s all said and done, a pre-settlement funding loan can be handy if you’re a plaintiff in a lawsuit. It extends the amount of time you’ve got for negotiating. This can mean the difference between the judgment you’ve been longing for, and settling for much less.

Are you in need of pre-settlement funding? Contact us today and get a no-risk pre-settlement loan in less than 24




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