The legal industry has never been more competitive than it is today, with firms facing pressure from every angle. Inside the profession, firms are competing fiercely for top talent while balancing the need to adapt to hybrid work models and the rapid adoption of new technologies like AI. The result is an environment where only firms that innovate, streamline operations, and differentiate themselves can stay ahead. Waiting for your legal fees after settling a case can put a halt to the growth of your firm.
What is Post-Settlement Funding?
Post-settlement funding was created to help plaintiffs’ attorneys who find themselves in need of cash while awaiting receipt of pending contingent fees. While a settlement indicates a legal fee is expected to be paid, the next question becomes how long before payment is disbursed, and how you will cover your expenses while waiting.
RapidFunds can bridge this gap, providing funding to attorneys while they wait for their legal fees.
How Does the Process Work?
The process to obtain funding with RapidFunds is simple and straightforward. First, RapidFunds will rely on the application you submit and our independent due diligence to determine if we can offer to buy a portion of your anticipated legal fee.
Next, we will speak with you to discuss the application, and once all is in order, we will provide our Agreement between you and RapidFunds. Finally, we wire money directly to your account, often the same day you apply, so the money is available to you immediately.
After you receive funding, we are not paid until you are paid. No monthly payments. No application fees. No due diligence fees. No up-front fees. You can wait for legal fees on the case involved in your application, or, if another settlement comes in, you can pay us partially or completely at any time. There are no “pre-payment” penalties because this is not a loan.
What Can Funding Be Used For?
Post-settlement funds can be used for any expenses you may need to keep your firm moving forward. Paying staff, taking on new contingency cases, paying office rent, marketing, and hiring are some of the most common uses of post-settlement funding. Unlike traditional lending arrangements, where periodic payments are due, you are not obligated to pay RapidFunds until your contingency fee comes in.
Convert Your Case into Cash with Post Settlement Funding from RapidFunds
Post-settlement funding was created to help plaintiffs’ attorneys who find themselves in need of cash while awaiting receipt of pending contingent fees. Access to funds can help you cover cash flow issues while you are waiting for your fees. Post-settlement funding has been and continues to be one of the strongest tools in an attorney’s toolbox.
For more insights on legal trends and more, subscribe to RapidFunds on LinkedIn. RapidFunds has been providing post-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.