Achieving settlement in a personal injury lawsuit is seen as a big win by plaintiffs. Most attorneys know that while settlement is a milestone, it is by no means the end of the road. Settlement payments sometimes take month or years to reach the plaintiff due to processing issues, liquidity problems, appeals or even the terms of the settlement. In the meantime, the attorney must focus on other cases and managing the day to day expenses of their firms. Plaintiffs have expenses as well including rent or mortgages, utilities and other day to day living expenses that they might not be able to pay for.
Post-settlement funding can help attorneys and their clients get the liquidity they need now before the settlement check arrives. This allows clients to catch up on past due bills as well as pay for any living expenses necessary and attorneys to pay for the cost of new contingency cases that have come in as well as payroll and other business costs.
Post-settlement funding is a way of leveraging the settlement award and fees that a client or attorney is entitled to by using it to secure a up front cash advance that is paid back when the check arrives. This is done by securing the funds with a third party lien on the settlement which the attorney will then use to pay back the principal and agreed upon rate of return when the funds arrive from the defendant. This type of funding is utilized by both attorneys and plaintiffs and is tailored towards each individual case and the estimated time of arrival of the settlement proceeds.
Post-settlement funding is utilized by many different types of plaintiffs and attorneys. Below are a few of the most recent types of cases commonly qualified for post-settlement funding:
The post settlement funding process is extremely simple and normally finalized inside of one business day. Once a funding provider reviews your case documents, including the fully executed settlement agreement, they will generate a contract for the client and attorney to sign. Once signed, the funding company will execute that lien and distribute the funds by bank wire or certified check. Normally funding companies will release up to 50% of the award to the plaintiff or 50% of the fee to the attorney.
Post-settlement funding acts as a lifeline for plaintiffs and attorneys alike, giving them access to liquidity that they otherwise could not get from a traditional financial institution. Giving plaintiffs and attorneys early access to their future receivables empowers them to make sure they are making sound financial and business decisions and not handcuffed by a long processing time of a settlement award.
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. Terms and Conditions Apply. BAKER STREET FUNDING RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AT ANY TIME WITHOUT NOTICE. To qualify for legal financing, a consumer must be (1) an attorney, or (2) you must be a corporate plaintiff looking for a minimum of $750,000 in litigation funding or a minimum of $50,000 in post-settlement funding, or (3) you must be a personal injury, civil rights or employment/labor law plaintiff with a retained lawyer on contingency; you mustbe at least 18 years of age, you must have a strong liability claim against a properly insured defendant, you must reside in an eligible state, and meet Baker Street Funding’s underwriting requirements. Contact us to discuss your options. Not all borrowers receive the lowest rate. To qualify for the lowest rate, your attorney must contact Baker Street Funding and meet other conditions. If approved, your actual rate will be listed in your contract. Historical returns do not guarantee future results.
*Baker Street Funding does not currently provide financing to plaintiffs looking for lawsuit funding residing in Arizona, Arkansas, Kansas, Maryland, Nevada, Oklahoma, West Virginia, or Washington D.C. Baker Street Funding reserves the right to change the states where it provides legal funding to without notice.
Attorney funding is provided throughout all states of the United States. The states Baker Street Funding currently provides legal funding to are:
Alabama, Alaska, California, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New York, North Carolina (Minimum $25K), North Dakota, Ohio, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming.
We currently fund Colorado at a minimum of $75,000. Case value must be at least $750,000+.
We currently fund North Carolina at a minimum of $25,000. Case value must be at least $250,000+.
**Baker Street Funding does not provide lawsuit funding for workers’ compensation.
***This website and advertising are provided by Baker Street Funding, LLC to the extent that there is advertising related to Baker Street Funding, LLC. 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 legal advance. The term lawsuit loans, settlement loans, lawsuit lenders, lawsuit cash advance(s), settlement advance loans, lawsuit settlement loans, or any word related to a loan(s), lending, lender(s), borrow(er), and cash advance(s) may be used to refer to legal funding. The words and any of its forms: loan(s), lender(s), lending, borrow, and cash advance(s) are strictly used for marketing purposes and easier comprehension for prospective clients. Our client relationships are paramount to us, and we take the client’s education process very seriously.
All information provided by Baker Street Funding is for educational purposes only and should not be taken as investment, legal, tax, or financial advice. Baker Street Funding does not provide investment, legal, tax, or financial advice and prior to making any financial decision, please consult a financial advisor, an attorney, or tax professional.
All legal funding is subject to approval. Additional restrictions may apply. Call for details at 888-711-3599.
Baker Street Funding:
New York Office: 77 Water Street, 7TH floor, New York, NY 10005
Florida office: 780 5th Ave. South, Suite # 200, Naples, Florida 34102
Lawsuit Funding, Settlement Funding, and Litigation Funding: Baker Street Funding, LLC.
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