Applicants for litigation funds [also known as litigation loans or litigation cash advances] have various reasons to seek cash before settlement in case their legal proceedings may be restored. In many cases, applicants need to provide funding as soon as possible. Of course, litigation financing companies will help these people in their business, and it is in their best interest to conduct transactions in a timely manner.
Unfortunately, many customers are disappointed that the entire process takes longer than expected. What complicates the problem is that there are advertisements for "12 hours approval" and "making money today" across the Internet. This is not to say that no case has been funded within 12-24 hours. In fact, litigation financing contracts are usually executed on the same day as the application. This is happening every day.
The problem is that the applicant’s expectations are being adjusted because not every case is submitted within one working day, paperwork is received, interviews are conducted by lawyers, drafting and execution of contracts, and payment of all payments. In the previous article, we discussed some of the potential barriers between applicants and successful capital transactions. Below, we discuss the role of lawyers in the funding process and the involvement of lawyers is a necessary prerequisite for anyone wishing to obtain cash advances for litigation. In addition, we consider the lawyer's point of view as it involves the process of obtaining cash advances for the case.
The financing of litigation begins and ends with the cooperation of lawyers. Because litigation loan business is first driven by paperwork, lawyers are usually in the best position to assist in transactions. Most lawyers sincerely hope to help their clients, especially in this case, the case can lead to better results.
The real difference between a client and a lawyer is the urgency when dealing with the steps required to successfully seek cash advance funding. In most cases, lawyers will not personally feel the economic pressure on the applicant. He is only taking on the workload when he runs his business. It is unfair to ask a lawyer to monitor the financial status of each client he represents. That is not within his agency. Usually, they do not represent litigation funds on behalf of clients.
This is not to say that lawyers do not cooperate at all. When problems do occur, they usually revolve around the timing of the response. Applicants often need money yesterday. However, lawyers are often unable to respond within the client's immediate time. Applicants will have a good understanding of how their lawyers are trying to do business. He has multiple cases and usually has a lot of work. It is unrealistic to ask a lawyer to waive everything he has done to compile a paperwork.
As mentioned above, lawyers' cooperation is critical to obtaining litigation funding. There is no practical meaning to stalk or resist this person. If litigation loan applicants simply adjust their expectations and give their lawyers some time to adapt the task to his schedule, they will be better served. After all, his cooperation is crucial.
The good news is that litigation funds have become part of most personal injury behavior. As lawyers become more familiar with the process, they will become less resistant to the process and more able to allocate the appropriate time for the transaction.
Thank you for your interest in litigation financing.