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| About LawMax | Apply On-Line | When Funding Makes Sense | The Funding Process | The LawMax Network | Frequently Asked Questions | Contact LawMax | |
| Benefits of a Lawsuit Advance |
| Commercial Lawsuit Funding |
| Funding for Attorneys |
Pre-Settlement Financing for Attorneys
Just as individual and commercial plaintiffs often find themselves in need of cash while their lawsuits work their way through the system, attorneys and law firms also find themselves in need of capital to cover operating expenses while they prosecute their clients’ cases. The challenge every personal injury law practice faces is that all the expenses are front-loaded while all the income is back-loaded. As the savvy attorney grows his or her practice, the cash flow shortage becomes progressively worse as new clients are added. How does an attorney bridge the gap between covering payroll, rent and office expense while he waits for cases to close? One option is attorney funding from LawMax. |
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Attorney Funding versus Conventional Financing
LawMax does not provide a revolving line of credit. For attorneys who are looking for a credit line they can draw upon whenever needed, and then pay down when funds come in, a conventional line of credit from a local bank is really what the attorney should consider. Also keep in mind that financing from LawMax will be more expensive than conventional bank financing. For the attorney whose credit line is maxed out, or for the attorney seeking a large infusion of cash, an advance from LawMax may be a solution to consider. For the attorney who has fallen behind on his or her monthly obligations, a cash infusion from LawMax can provide the cash needed to get current with creditors. |
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How Attorney Funding Works
When LawMax provides litigation financing for a plaintiff, the money is advanced against a single case, and the lien is against the plaintiff’s share of the expected settlement from that case. When the case settles, LawMax is paid, along with any other lien holders, from the plaintiff’s portion of the settlement. When LawMax provides pre-settlement financing for an attorney or law firm, the advance is against a package of cases, and the lien is against the attorney’s portion of each of those cases. Like plaintiff funding, there are no monthly payments. When the first of the pledged cases settles, a portion or all of the funding, plus the accumulated risk premium, is repaid. Once the advance is repaid in full, any liens remaining against unresolved cases are released. Once a funding has been repaid, an attorney is free to apply for additional funding against additional cases. To apply for attorney funding, click here. |
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| About LawMax | Apply On-Line | When Funding Makes Sense | The Funding Process | The LawMax Network | Frequently Asked Questions | Contact LawMax | |
