Lawsuit Funding can be a valuable tool for attorneys and clients and, if used correctly and strategically, can be a revenue enhancement tool. One example I like to use to demonstrate this point is the case of an Indiana woman that Lawsuit Financial provided legal funding for in 2005. The woman suffered a very serious closed head injury in an auto accident and was unable to work. She had missed several mortgage payments and the bank was threatening foreclosure. While this was happening, the insurance company contacted her attorney and offered $250,000 on the case. Her attorney thought the case was worth $1 Million, thought he could achieve that amount or close, thought he could do so within a year, and advised her to reject the offer. She told him to accept the offer; after all, she was losing her house. Her attorney called Lawsuit Financial.
After reviewing appropriate case materials, Lawsuit Financial approved an initial lawsuit cash advance of $15,000 which was sufficient to pay up the mortgage and other immediate debt. The woman, on the advice of her attorney, rejected the $250,000 offer. During the course of the litigation, Lawsuit Financial provided lawsuit financing two more times; at the end of the case, she had received a total of $30,000 in lawsuit funding.
Nine months after receiving the $250,000 offer, the case settled, for $950,000. Lawsuit Financial was a substantial reason why there was a $700,000 increase in final case settlement proceeds! The client’s upside, after attorney fees was over $400,000. The attorney made an additional $233,000! Lawsuit Financial made a nice return on its investment and received the added pleasure of saving someone’s house and assuring that she was able to achieve a fair result in her litigation.
This true story is a graphic reminder of the power of litigation funding in the hands of a savvy attorney. Lawsuit Financial will answer your lawsuit financing questions for free. The call is toll free, 1-877-377-SUIT or you can visit the website at www.lawsuitfinancial.com. The legal funding advice may not be “priceless”, but it could be worth $700,000 or more! Do the math for your case funding situation.