Shortly before we introduced this lawsuit financing blog, Lawsuit Financial Corporation issued a press release announcing a new, complimentary consulting service for plaintiffs and trial lawyers to assist them in better understanding the products and services offered by Lawsuit Financial Corporation and other legal funding companies. As the legal finance industry experts, we feel it is our responsibility to offer this free education about a service that is often misused and misunderstood. Since the press release preceded the blog, we thought it would be a good idea to remind our readers of the availability of this valuable service.
It is also very important to understand the differences between the various companies who provide lawsuit financing services. Almost all of us provide non-recourse lawsuit funding to plaintiffs and attorneys; this means that repayment is contingent upon the litigation’s outcome. If the case fails; so does the legal advance. Simply stated, the money is free if you lose.It follows that the money is rather expensive if the case is successful. However, in addition to program expense, there are many different methods of providing legal finance services; some companies are very difficult to do business with, are rather inflexible, and, over time, can be cost prohibitive.
This is why we are offering this complimentary consulting service. It is very important that the plaintiff (and the attorney) understand the following key elements of the lawsuit funding “deal” being offered:
1. potential cost of litigation funding
2. the administrative fees, if any, being charged
3. how “interest” or “profit” is being calculated and/or assessed
4. whether case value is sufficient to justify the amount of lawsuit finance principal being sought and expected profit being charged.
It will be very difficult to settle an over-encumbered case, and whether the legal finance company you are speaking to will cap its rates or compromise if the results are not optimal is of vital importance to you, your client and the case. Lawsuit Financial Corporation will review and evaluate your proposed legal finance agreement at no charge. We will do this for you and your client whether you are looking to retain our company’s services or the services of a competitor. Obviously, we feel that the educated consumer is our best client, and, in this instance, “educated” means a detailed review and explanation of the differences between companies under consideration, with careful attention to pricing, settlement, and, above all, customer service policies. To take advantage of this free service, contact us on the web at www.lawsuitfinancial.com or call us, toll free, at 1-877-377-SUIT (7848). The call is free and the advice is priceless.