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The Funding Process
The funding process at LawMax is streamlined to offer provide fast turnaround for the client while respecting the attorney’s time and the law firm’s staff’s time and resources.
- The client applies for a lawsuit advance by phone or online, or the attorney can apply for funding on the client’s behalf.
- A LawMax underwriter (who is an attorney) reviews the application and requests supporting documentation so he can evaluate the case. These documents can be submitted as a hard copies, digitized files or via fax – whatever is most convenient for you.
- If hard-copy documents are submitted, they are scanned into our system and the hard copies are shredded. The digitized files are kept on our secure servers so total confidentiality is maintained.
- After the underwriter reviews the documents, he discusses the case with the attorney by telephone. These conversations rarely last more than five or ten minutes.
- If LawMax cannot provide funding, we notify the client directly. If we can fund the case, we send a Claim Investment Agreement to the attorney to review.
- The client signs the agreement and the attorney acknowledges our lien against the pending lawsuit.
- Once we receive back the signed Claim Investment Agreement (which is usually faxed to us), we issue a check that same day. We will, if the client so requests, overnight the check.
- During the pendency of the case, LawMax is not involved in the prosecution of the claim in anyway. We do ask, however, that we be kept aware of any developments in the case.
- When the case is won at trial, or there is an out-of-court settlement, LawMax is repaid when the other lien holders, if any, are paid. The lawsuit advance plus the accumulated risk premium on the advance is paid in one lump-sum payment.
- Should the case be lost a trial, or should the plaintiff abandon the claim, the plaintiff owes nothing and LawMax writes off the investment.
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To apply for an advance for a client, click here.
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