What is post-settlement funding and why do attorneys rely upon it?
RapidFunds® has been a long-time provider of post-settlement funding to plaintiffs’ attorneys since 2004. RapidFunds® watched as the industry grew from its off-beat nascent beginnings to one that has become mainstream. Litigation funding, or legal funding, is now one of the biggest topics of discussion in the legal world today.
Convert your case to Immediate Cash
The RapidFunds® Post-Settlement Funding service differs from other kinds of legal finance because it allows plaintiffs’ attorneys to access part of their legal fee from a settled case, without creating additional demands on cash flow. In other words, with post-settlement funding, there is no monthly or quarterly (or any) debt service payments required from the attorney and there are no up-front fees. Our attorney clients need only pay RapidFunds® when the given settlement proceeds are received.
Certain cases are prone to have administrative and other miscellaneous delays that can delay payment. Some examples where legal fees on settled cases can be significantly delayed are: class actions, MDL’s, wrongful death, medical malpractice, actions against governmental entities, and infant’s (minor’s) compromise. While a settlement indicates a legal fee is expected to be paid, the next question becomes how long before payment is disbursed, and how will you cover your expenses while waiting.
Post-settlement funding was created to help plaintiffs’ attorneys who find themselves in need of cash while awaiting receipt of pending contingent fees. Post-settlement finance can be a very critical tool for plaintiffs’ law firms. Access to funds may likely be the solution to your cashflow issues, and covering your overhead and litigation expenses. For national plaintiffs’ law firms, post-settlement funding can help maintain their competitive advantage, increase their presence on all media channels, and expand their footprint to help increase business. Post-settlement funding has been and continues to be one of the strongest tools in an attorney’s toolbox.
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Here are some actual examples of Post-Settlement Fundings consummated by RapidFunds®:
RapidFunds® forwarded a prominent Texas law firm $1,000,000 of its legal fee on a settled multi-district pharmaceutical litigation.
A major national law firm accelerated its receipt of a multi-million dollar fee in a large multi-million dollar consumer class action settlement.
RapidFunds® forwarded a national law firm in excess of $3,000,000 of its legal fee in an employment class action settlement.
RapidFunds® forwarded a Pennsylvania law firm $200,000 of its legal fee in a large personal injury settlement.
A Florida attorney received a portion of his attorney fee from RapidFunds® on the same day he settled the case!
A New York attorney received a portion of his fee from RapidFunds® within days of finalizing a wrongful death settlement.
RapidFunds® forwarded $65,000 of a California attorney’s legal fee in an employment discrimination settlement.
In a civil rights settlement, an Illinois attorney received $125,000 of his fee from RapidFunds®.
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