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Attorney and Law Firm Loans

HOW TO GET LOANS FOR ATTORNEYS & LAW FIRMS

ATTORNEY LOANS

ATTORNEY LOANS – LAW FIRM LOANS

In 2018, the United States was home to an astounding 1.33 million active, licensed attorneys. That figure signifies an increase of more than 15% from a decade ago. Thus the greater need for Loans for Attorneys

The above statistics don’t even include the bar passing-graduates of the Class of 2019 yet. This class alone constitutes of 33,954 graduates.

In any case, becoming an active, licensed lawyer means that you can now launch your own law firm. However, that would require thousands of dollars that you may not have access to at the moment.

Unless, of course, you apply and qualify for financing and loans for attorneys.

That’s right — there are several ways to finance your law firm, just like how businesses can take out loans.You can apply for Loans for Attorneys.These financial programs for lawyers, however, are not like your run-of-the-mill business loans. For starters, most of these law firm funding services are non-recourse.

Ready to learn all about opening a law firm and how attorney loans or law firm financing work? Then let’s get this guide started!

why start a law firm

WHY START A LAW FIRM?

Why Even Start a Law Firm?

In one survey, more than three-quarters of employees said that they feel “on their own” in their company. They believe that their employers don’t give them enough tools or help to grow their careers. As a result, many of them file for resignation.

Workplace politics is another main reason workers quit their jobs. It has such a massive impact, in fact, that at least one-third of employees have left a job because of it.

Besides, as you may have likely experienced, law firms have very competitive environments. The nature of the work itself is competitive — being a lawyer is all about winning a case for the client, after all.

Without proper management, excessive competitiveness can become very stressful. Over time, this can take a huge toll on one’s self-confidence. Ultimately, you may not experience the growth that you’ve always wanted as a lawyer.

These are problems that you can have direct control of if you start your very own law firm. Since you’ll be your own boss, you can create a better workplace, not just for yourself, but for your people too. As a founder of a law firm, you can get away from and get rid of tiresome office politics.

At the end of the day, however, starting a law firm gives you more professional independence. You can take on more projects that interest you and allow you to focus on the niche you want to specialize in. All these then gives you more freedom to craft your own legal brand.

Career and Job Outlook – Loans for Attorneys can Help

Over 100 million cases — that’s how many get filed each year in US state trial courts alone. Federal trial courts, on the other hand, receive an estimated 400,000 case filings every year.

In fact, at the end of the 2019 fiscal year, US attorneys handled more cases than at the start of the year. During the beginning of the year, there were only 74,843 pending cases in US district courts. This jumped to 80,365 pending cases at the end of the year.

All these stats prove that there’s an indisputable need for attorneys. As a lawyer, you’ll always be in demand.

As a founder of a law firm, however, you can make your services even more easily available. This, in turn, can heighten the demand for your specific legal expertise and skills.

The Biggest Challenge

Court Cases Cost Money

Court Cases Cost Money

Note, however, that your law firm won’t just provide you a place to practice the areas of the law you want to focus on. It’s also a business, and that means overhead expenses and continuous costs. In some cases, such as in personal injury lawsuits, you may also have to rely on contingency fees.

Operating Costs

The costs of starting and running a law firm are the biggest challenges you’ll face. There are the rental rates of commercial space, for starters. Depending on where you’ll establish your firm, you could be looking at as much as $50 per square feet of office space. Loans for Attorneys sounds appealing

Outside of your firm’s expenses are the soft and hard costs of providing legal services. Soft costs often arise from legal research, electronic data storage, and paperwork. As for hard costs, these include court filing fees and paying for copies of medical records.

Delayed Client Payments – Use Loans for Attorneys

On average, processing of legal claim settlements can take anywhere from one to six weeks. That’s the average “waiting time” for claimants or plaintiffs to receive settlement money.

If you’ll work on a contingency basis, then you’ll also wait for up to six weeks to get paid for your legal services. If their claim or lawsuit doesn’t win, however, then you won’t receive any payment. Contingency fees, after all, are a “no win, no fee” type of legal expense.

Also, having a strong case doesn’t always mean that a claim or lawsuit gets paid on time. Payments for wrongful imprisonment settlements, for instance, can take three months to years. Many other lawsuits, particularly those for personal injuries, can take even longer.

Loans for Attorneys: Funding When You Need It

Regardless of how long it’ll take for a claim or lawsuit settlement, your law firm must continue to run. Bills and expenses,

Non Recourse Loans

Non Recourse Loans

however, won’t wait to get paid. Worse, not having access to a stream of funds can result in key pieces of evidence getting delayed.

In such cases, it’s best to consider law firm funding, which can take the form of cash advances and lines of credit.

Cash Advances

Get earlier access to funds from settled cases or finalized verdicts with a cash advance. With this type of litigation funding, you don’t have to wait for weeks, months, or years to get paid. So long as there’s a guaranteed settlement on the case, you can tap its funds even before you receive the check.

The exact amount that you can get in advance depends on your expected payment though. This payment refers to the agreed-upon fees that your client will pay you if you, as the lawyer, win the case. From there, the lender will make computations on your anticipated lawyer fees.

Once granted, you can expect the cash advance within 24 to 48 hours.

Line of Credit

A line of credit (LOC) is another way to get cash funding on litigation handled by your law firm. It works in a similar manner as a credit card in that you can borrow up to its preset limit, any time you need to.

The LOC limit will depend on your agreement with the lender, although it often depends on won cases. You can, for instance, have the limit based on the expected payments of settled cases or verdicts. You can also have the lender provide you a customized LOC program tailored to your law firm’s needs.

Either way, every repayment you make toward the LOC will “refresh” your limit. So, if you pay $1,000 on your LOC account, you can use that amount once again when the need arises.

Working Capital Loans

Did you know that as many as 69% of business owners tap their personal funds for the sake of their business? Such is the case whenever their business encounters financial issues.

For many who don’t have stowed funds, loans are the second most common option. This, in fact, is a usual occurrence, seeing that only about seven in 10 working adults in the US have some savings.

That said, working capital loans can be your law firm’s saving grace if you don’t have savings. Besides, you most likely don’t want (nor is it recommended) to use your own personal funds. Even if it’s your law firm, you need to separate business expenses from your personal life.

You can use working capital loans to fund your law firm’s daily expenses. You can use the money for operational costs, such as paying witness fees or court filing fees. You can even tap it to cover payroll and even your law firm office’s rental payments.

Why Litigation Funding and Not Traditional Loans

Grow Your Business

Grow Your Business

With litigation funding, you can take out non-recourse loans or advances. This means that your repayment to the lender will depend on the outcome of your case. If you don’t win the case for your client, then you also won’t owe the lender anything.

Non-recourse lawyer cash advance programs also don’t have specific repayment deadlines. Again, it’s because you have to repay the lender only when your client receives the settlement. As such, you don’t have to worry about compounding interest rates on your attorney loans.

These are benefits that you can’t expect from a traditional financial institution. There are very few banks — if there’s even any at all — that provide non-recourse attorney loans. In addition, almost all conventional loans depend on a borrower’s credit score.

Get the Funds You Need to Grow Your Law Firm Now

There you have it, your ultimate guide on litigation funding and loans for attorneys. Now that you know you your law firm has many financing options, it’s time to explore each one of them. The sooner you do, the sooner you can grow your law firm and make a mark in the legal industry.

If you’re looking for reliable law firm financing programs, we here at Lawsuit Cash 911 are ready to help. Please feel free to check out our numerous innovative funding options for lawyers! Don’t hesitate to give us a call too, if you need help applying for law firm funding.

CLICK TO APPLY FOR A SETTLEMENT LOAN NOW

CLICK TO APPLY FOR FINANCING  NOW

 

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CAR ACCIDENT LAWSUIT LOANS

AUTO ACCIDENT LOANS CAN HELP IN TIMES OF DISTRES

More than three million people are injured in an auto accident in just a single year.

INJURED IN AN AUTO ACCIDENT

INJURED IN AN AUTO ACCIDENT?

In reality nothing can make up for the emotional pain and suffering of sustaining an injury from a car accident, The good news is the funds from a car accident settlement can help to offset the financial burden..

However, even though you know you’re likely to be awarded a hefty settlement in the future, it doesn’t do much to help you pay your ever-growing bills right now.

Whether you need to pay for medical bills, car repairs, or even personal expenses that have piled up because you’ve been unable to work, you may be able to access the money from your pending car accident settlement immediately.

Want to learn more about car settlement loans/lawsuit advances so you can get access to the money when you need it the most? After all, you have no idea how long it’ll take for your case to be completed, and you can’t afford to wait months — let alone years.

Read on to learn everything you need to know about pre-settlement funding.

The Basics of Car Accident Pre-Settlement Loans

BASICS OF LAWSUIT LOANS

BASICS OF LAWSUIT LOANS

First, let’s make sure you understand the basic definition of pre-settlement funding.

In short, it allows you to borrow/get early access to the money that you’ll be awarded in the future when you’ve reached a settlement in your car accident case. You may also have heard them referred to as lawsuit cash advances or litigation funding.

The best part?

It doesn’t matter how large or small you expect your auto accident settlement to be — in most cases, you’ll still be able to borrow a proportionate amount of  money. Additionally, it often doesn’t matter how severe the injuries you sustained in your car accident actually are. Even with minor injuries, you may still be able to access some of your upcoming settlement funds early.

Essentially, you promise to pay your lender back for the money you borrowed once your settlement begins paying out. This means you can avoid having to make monthly payments because your loan is only repaid once you’ve reached your settlement.

You should look for a pre-settlement loan provider that only requires you to pay back your money in the event you do win your lawsuit/settle out of court. This preferred sort of Cash Advance is called a Non-recourse loan.

Now, let’s take a look at the top benefits of car accident settlement funding

Why You Should Borrow From Your Future Car Accident Settlement

WHY GET A LAWSUIT LOAN

WHY GET A LAWSUIT LOAN

Of course,auto accident  pre-settlement funding allows you to pay for care and necessities while you recover and seek treatment for injuries you sustained in your car accident.

In fact, in some cases, you may even be able to get access to your money in 24 hours or less.

But there are numerous other benefits as well.

First of all, you’ll be able to stop spending your time arguing with your insurance companies that consistently try to low-ball you and settle your case for pennies on the dollar.

Plus, when you have access to some of the money from your upcoming settlement, you’ll be able to hold out for a much larger payout from your insurance company.

Additionally, in many cases, pre-settlement loans are much easier to access than loans from your bank. What’s more, you can use the money from a car accident settlement loan in any way you’d like — which isn’t always the case with traditional bank loans.

This means you can pay for your :hard cost” legal fees, medical bills, credit card bills, rent or mortgage, or even pay for a vacation to help ease your stress.

Finally, know that lenders don’t base their decision about whether or not to give you the loan on things like your current credit score, your income level, or the amount of debt you currently have. Instead, they look solely at the validity of your case.

APPLYING FOR A LAWSUIT LOAN

APPLYING FOR A LAWSUIT LOAN

This is wonderful news for those with bad credit scores or high amounts of debt.

Applying for a Auto Accident Settlement Advance

In order to be eligible for settlement loans, you’ll need to meet a few basic requirements.

First of all, you need to have an active court case — but don’t worry, you can apply for the loan at any point while the case is still active.

Additionally, you won’t be able to represent yourself in court if you plan to apply for a settlement loan. Getting the right legal representation is a smart move anyway, as it can prevent you from making mistakes that jeopardize your case and will likely win you a larger settlement.

Remember that the other party must be held liable for the accident. After all, if you caused the accident, you won’t be getting any kind of a settlement.

Above all, you need to ensure that you’ve done your research when it comes to your lender. Make sure you read online reviews, ensure they can fund lawsuits in your state, and that you know what to look out for.

Any company that guarantees approval or claims you don’t need to have an active lawsuit or an attorney to qualify isn’t a legitimate one.

Want to be certain you’re working with a settlement lending company you can trust?

GET PRE SETTLEMENT MONEY

GET PRE SETTLEMENT MONEY

Are You Ready to Apply for Pre-Settlement Funding?

The bottom line is – You don’t have to wait around to get access to money from a pending auto accident settlement.

Instead, by applying for pre-settlement funding, you may be able to get the money you need to pay medical bills and other expenses in as little as 24 hours.

Are you ready to start the application process and learn more about what to expect from pre-settlement funding?

APPLY FOR A LAWSUIT LOAN NOW

APPLY FOR A LAWSUIT LOAN NOW

If so, then we’re ready to work with you.

All you need to do is begin the process. Financial relief in the middle of an auto accident lawsuit is possible. Let us help you to get it.

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Lawsuit Cash Advances

How to Get a Lawsuit Loan:

Lawsuit Loans

GET A LAWSUIT CASH ADVANCE

Lawsuit Cash Advances

If you have been in an accident where you were injured, you fully understand all the difficulties that follow. You need to fix or replace your car. Dealing with insurance and probably lawyers is all part of the deal.

You also need to recover from your injuries and that doesn’t always happen overnight. You might be unable to work or even perform your daily responsibilities while you hobble through recovery.

Perhaps you are now part of a lawsuit to get compensation because you were not the cause of your accident. You might be waiting patiently, or not so patiently, for your lawsuit settlement, so you can pay your unpaid bills that accumulated while you were out of work.

Lawsuit Cash Advances

LAWSUIT CASH ADVANCES CAN HELP

Have you considered a lawsuit cash advance to help out as you wait for your case to be settled? Read on to learn everything you need to know about lawsuit loans.

What is a Lawsuit Cash Advance?

A lawsuit cash advance is what the name implies. You are part of a lawsuit because of an injury you sustained in an accident. There is a pending lawsuit where you hope and expect to be compensated for your injuries sustained as a result of the accident. The lawsuit cash advance acts as a loan for the money you anticipate getting once the lawsuit is settled.

The cash advances go by many different names depending on the lender. They include:

Whatever name is used, the idea remains the same. You get money in advance of your settlement to help with expenses while you wait for the case to come to completion.

Advantages and Disadvantages of a Cash Advance Loan

Litigation Finance

LITIGATION FINANCE?

A cash advance loan can be very helpful to cover bills and obligations if you are out of work from an injury. But there are some things to consider before you decide to go through with getting one.

Of course, the biggest advantage is that you get the necessary cash to survive. This can mean you can pay your bills and cover all those medicals expenses that may be pouring in because of your injury.

It also means you have some breathing room as your lawyers work through your case. You can hold out and get a better settlement result for your case because you are less desperate for money. (bad news for the insurance company)

The disadvantages are the cost of the loan. Like any loan, there is interest to pay. In some instances, certain cases will not qualify for a loan.

Types of Cases Funded By Cash Advance Loans

Loans on Pending Lawsuits

LOANS ON PENDING LAWSUITS

Different lenders have different criteria. So often a person looking for a lawsuit cash advance will want to shop around at their options. Here are some of the cases commonly eligible for a lawsuit loan:

As you decide whether a cash advance loan is right for you, you can also research lenders (How to find the Best Lawsuit Loan Companies) the cases they are willing to write loans for.

How Do Cash Advance Loans Work

When you decide you want to get an advance of the expected settlement from your case, you need to do your homework. Like getting an auto loan or a mortgage, not all loans (or companies) are created equal.

Do your due diligence and shop around for the best loan terms. Read the fine print. Understand how the interest will be accrued.

Ask if you are expected to make payments while your case is still in litigation, (you have chosen the wrong company)  It’s important to understand how is the loan repaid once you have a settlement. A bona fide lawsuit funding company waits for the litigation to end before repayment.

What Do You Need To Qualify for a Lawsuit Cash Advance Loan?

Lawsuit Lending

GETTING APPROVED FOR A LAWSUIT LOAN

While the steps vary from lender to lender, there are some basic steps you need to follow when applying for a lawsuit cash advance loan. These include:

  • Need a court case already in progress
  • Already have a retained lawyer (on a contingency basis) for your case
  • Liability should show the other party was at fault
  • You need the money for bills and expenses

In nearly all lawsuit loans, you must also agree to pay the loan back in full once you get a settlement from the case.

How is the Loan Repaid?

Once you reach a settlement, beyond a sigh of relief, you must then pay back the loan. How does that work?

The courts will issue the judgment for the settlement to paid and usually who it should be paid to.

Legal fees and any court fees are paid out from the settlement. Then any unpaid medical expenses are paid, usually as part of the settlement. If there are liens because of the lawsuits, those will also be paid.

Then the lawsuit cash advance is paid back. Once all those financial obligations are met, the remaining settlement is paid to the injured party.

What Happens if You Lose?

Like the other conditions, this varies from lender to lender. But most lawsuit loans are set up that if you lose your case, you do not have to pay back the loan.

This should tell you that the lawsuit lender will want to have a certain amount of certainty about your case. They will study the facts of the case closely. They will want to look at the record of your attorney, to see how often they win or lose in court.

This might also mean you to find a loan against your settlement, you might need to apply to several lenders before finding one willing to give you the advance.

lawsuit advances

I JUST GOT A LAWSUIT ADVANCE

Get a Lawsuit Cash Advance Today

Living through an accident or injury is bad enough. Facing the recovery, disruption to your life and the associated bills can be downright overwhelming.

Lawsuit cash advance loans are a way to get through those trying times with less worry.

If you or someone you love is involved in litigation for injuries, we can help. Contact us today to learn about our loan services. Let us help you through this difficult process.

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