Running a law firm takes a lot of capital. Traditional lending institutions are generally not comfortable lending on contingent fee cases, and typically not to the extent necessary to resolve cash flow problems. Unlike these institutions, we fully understand the value of the assets contained in your inventory of cases. That’s where we come in. RapidFunds provides post settlement funding to contingency fee attorneys. We can often turn an application into cash in as little as 24-48 hours. Below we answer some of the most frequently asked questions about the post settlement funding process.

Is Post Settlement Funding a Loan? 

Post settlement funding is NOT a loan. Unlike a loan, there’s no collateral and no monthly payments. Instead, you are selling an anticipated fee for a case that has already settled but which has yet to pay out. And unlike a loan, if the other party defaults on their settlement, you pay us nothing. 

When Do I Have to Pay the Funding Amount Back? 

At RapidFunds, post settlement funding isn’t like making payments to a bank. In fact, with RapidFunds, there are no due dates. Instead, you pay us when they pay you. And if for some reason, they don’t, then you don’t owe us a dime. Once the settlement amount clears in your escrow account, you immediately transfer the assigned portion of your legal fee to us. We provide you instant liquidity. We do the waiting. You run your firm. 

What Size Transactions Do You Handle?

We handle transactions as small as $10,000 and as large as $20,000,000–though we are willing and able to consider amounts greater than that. We regularly purchase millions of dollars of anticipated settlements from qualified lawyers on qualified cases.

Do You Contact the Defendant or Defense Counsel to Verify the Transaction? 

No. Anonymity is paramount. Our communication about post settlement funding is between you and us only. We rely on information you provide and our own independent due diligence. The only time we contact defense counsel is if and only if, our client commits fraud, misrepresentation or otherwise fails to communicate. This is rare.

Do You Offer Funding to Plaintiffs?

We do not fund plaintiffs. We only fund attorneys who represent plaintiffs.

Trust RapidFunds For Your Post Settlement Funding Needs

For more insights on legal trends and more, subscribe to RapidFunds on LinkedIn. RapidFunds has been providing settlement funding for almost 20 years. We’ve completed over 4,000 transactions and have helped thousands of firms with funding. Stop waiting for your legal fees and contact RapidFunds today. 

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