At Baker Street Funding we strive to develop partnerships with attorneys nationwide to help provide reliable, quick and efficient legal funding solutions for their clients and themselves. We provide multiple financing options such as including pre and post-settlement funding for plaintiffs, and attorney funding for counsel. We understand that clients and attorneys alike need quick access to capital to help drive the maximum amount of value possible out of their cases.
We provide litigation funding for attorneys on a case by case basis. We can help you pay for the expenses to help you win your next big case. These funding agreements are typically referred to as law firm loans, lawyer loans or lawsuit financing and case funding. Attorney case funding is a non-recourse investment into your future receivables.
Subject to various requirements, litigation funding for attorneys is provided in both the pre and post settlement timeline of a case. Our non-invasive and fast approach makes our due diligence process the highest rated in the industry, considered by our partner attorneys the best settlement funding company. We take a wholistic approach to the cases we analyze using our combined skill sets to protect your interests. and take in all factors or the litigation, including the past cases that you have successfully litigated.
Baker Street Funding is designed to strategically connect select legal funding opportunities such as litigation funding, plaintiff funding, pre-settlement funding, post-settlement funding, attorney loans and law firm loans with our extensive network of sophisticated partners and staff with the utmost discretion to you.
We actively maintain strong relationships with top professional allocators in the United States to provide our clients with excellent legal funding opportunities.
For over 10 years we have organically built our business within the finance industry with accelerating momentum. Join us at out CLE and networking events throughout the year for our partner firms!
We offer two types of legal funding for plaintiffs are pre and post-settlement funding available for clients both before and after a signed settlement agreement has been dually executed.
Most personal injury cases take up to two years to settle and pay out. In this time, your client could be out of work and in need of funds for basic living expenses and medical bills. When these plaintiffs have exhausted all other financing options available to them, we then recommend that they look into pre-settlement funding.
While the risk profile of any case could be high, cases that have yet to settle carry a large amount of risk. This is why the cost of pre-settlement funding is sometimes high. The inherent risk of the case not setting for any reason is why you may see higher rates on your client’s contract. We price each case individually taking into account the risk of the case not settling. Since our contracts are strictly non-recourse and based on the merits of the case, not the financial profile of the plaintiff, we are able to provide much needed capital to individuals who may not be able to get financing otherwise.
Settlements are typically not distributed immediately upon signing the settlement agreement, and plaintiffs may see themselves in need of short term bridge capital. For plaintiffs in this situation, post-settlement funding may be an option. While the risk profile of a settled case is low, there is still a chance that the obligor does not pay. Our non-recourse funding agreements take this into account and gives plaintiffs rates that are priced appropriately for that risk
Legal Funding, (also known as litigation financing, legal lending, attorney funding, attorney loans, law firm loans and case cost financing) was developed by attorneys and for attorneys to provide them with access to capital to run their firms, and litigate cases to their fullest potential. Legal funding can be a key asset to contingency fee based attorneys by helping smooth out their income stream, that can otherwise be extremely difficult to manage. Our legal funding options can be customized for each attorney to help fit their time frame demands, case budget and capital needs. Our solutions help you gain access to capital to help build cases without waiting for more mature litigation to settle.
Attorney funding is a type of legal funding that is created specifically for contingency fee based attorneys, representing personal injury plaintiffs and large commercial litigation lawsuits. There are multiple different subsets of attorney funding, including case cost financing, voucher funding, attorney lines of credit and pre or post settlement fee advances.
While cases involving mass torts, minors, medical mal-practice or delayed settlements are extremely profitable for the attorneys involved, they do run the risk of running out of money before the litigation ends this is why attorney legal funding from Baker Street Funding may be beneficial to you. We can make things happen for you FAST.
Legal funding can become a great asset to your practice by helping you gain access to case flow to help pay expenses while waiting for a case to settle or go to litigation. While each attorney and firms situation is different, we have created a bespoke solution for every different type of attorney financing need. We can help you manage your portfolio of cases and provide capital based on that portfolio to help with payroll, office space and marketing capital, or we can provide case by case specific financing to help cover discovery costs, expert witness costs, administrative expenses and litigation expenses.
A typical case in the litigation process does not go to trial and it takes an average of 20 months to settle. When litigating a case, that timeline extends and there is an uncertainty surrounding whether you will successfully win a judgement. This process makes running a successful practice difficult and attorneys need some sort of financial backstop to help cover costs until their next case settles. Contingency fee attorneys are not guaranteed any economic benefit unless they win their case. If an attorney invests years of time, effort and capital into a case that settles in favor of the defendant, he or she walks away with nothing.
Many law firms looking for lines of credit approach their local or national financial institution. These banks may provide you with a business loan or a LOC (line of credit). The problem with these products is twofold. They do not take into account the intricacies of running a legal practice and most times do not provide enough capital as is needed. The other issue is that unless your firm has had a long standing relationship with the bank, you will need to personally guarantee the financing. That means you are risking the money you’ve made to help secure the money you need to make in the future.
With Baker Street Funding, those worries are taken care of. Our attorney funding process is based on your current and former case portfolio. We also take into account intangible things, such as your previously settled cases. Our funding agreements are non-recourse and thus you never have to personally guarantee our contracts.
We have designed our legal funding solutions with attorneys in mind. We know how traditional financing agreements are structured and we have found a solution that is more favorable for our law firm clients. With our bespoke financial solutions, you will never have to provide traditional collateral such as personal guarantees or real estate. We take your receivables as well as current and former case inventories into account to help structure the perfect non-recourse funding agreements for your needs.
Our approval process is quick and easy. Once approved, we purchase a portion of your future receivables, and provide you with either cash or a line of credit immediately. We will normally purchase anywhere from 10-50% of your future fees to secure our investment into your practice. We can make all the funds immediately available or structure monthly investment payments with staggered rates of return. There is no limitation to how you use the capital you take from us, so rest assured that you will be able to enhance your practice in any way you see fit.
As mentioned above, most of the law firms that we work with, utilize our pre and post settlement funding options either on a case by case basis or based off of their current portfolio of receivables. Some attorneys may need a more specialized solution. With that in mind we also provide voucher funding and attorney lines of credit, feel free to give us a call so we can discuss further on what fits you best.
Many attorneys that approach us are appointed as public defenders (also known as indigent defense attorneys). These attorneys are on the states payroll and receive their legal fees directly from the state that they practice in. Sometimes, when there are economic downturns or other financial issues that the state is subjected to, vouchers are used as a promissory note to pay past due attorneys fees. We have seen attorneys have to wait months to be able to redeem their vouchers. Our voucher funding program works similarly to our post-settlement funding agreements. Once a voucher has been issued to the attorney, he can then contact us and we will advance a portion of the vouchers face value. We will then be paid back from the state when they are able.
Our attorney lines of credit function almost exactly the same as you would see at your local bank branch. The key difference with our attorney LOCs is that we are able to do more due diligence into your practice and thus are able to provide much larger lines than a bank normally can. Because our legal funding solutions were developed by attorneys, we are familiar with what it takes to run a successful contingency fee based practice. As expected, as your client portfolio increases, so would you line of credit. We look at it from the perspective of your firm being a living breathing thing and our attorney lines of credit being the heartbeat that helps it grow. Our LOCs will increase in lockstep with your practice as it gets new clients and successfully litigates cases.
We offer surgery funding for plaintiffs unable to afford medical procedures due to the privatization of health insurance or personal injury protection coverage. This solution works as well for attorneys as it does for plaintiffs in need of surgery because an attorney can then obtain a lien or a letter of protection post-operation, as the case goes up in value. There is no risk for surgeons as they are directly paid in full pre-operation. Baker Street Funding is committed to ensuring personal injury patients have access to quality healthcare, and medical providers can be compensated quickly and fairly for the care they provide.
Our process is quick and easy. All of our underwriters are former personal injury attorneys with extensive experience. They perform a quick review of the underlying facts surrounding the case and make a fast decision.
With a quick response time and high speed of service, we regularly help personal injury victims receive the medical care they need ranging from minimally invasive surgeries to complex surgical procedures while strengthening your personal injury case.
Baker Street Funding is a Premier Legal Funding Firm designed to strategically connect select funding opportunities with our extensive network of sophisticated partners and staff. If your attorney has been retained on contingency and you have a strong liability claim against a properly insured defendant, you may qualify for a pre-settlement advance, contact us to discuss your options. * The term lawsuit loans, lawsuit loan lenders, settlement advance loans, or lawsuit settlement loans may be used to refer to pre-settlement funding. Transactions facilitated by Baker Street Funding, are not to be considered loans. These transactions are non-recourse financing agreements, which means that we are making an equity investment into your litigation. If you lose your case, you are under no legal obligation to repay your advance. The word loan is strictly used for marketing optimization purposes and for easier comprehension for prospective clients. Our client relationships are paramount to us and we take the client education process very seriously. We provide legal funding and lawsuit cash advances in the following states, Alabama, Alaska, Arizona, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island,South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.
Copyright © 2018. Baker Street Funding, LLC.