The First Conversation

Discussing your litigation financing options with a provider should never be stressful or difficult. The first conversation is designed to gain the info needed to determine if you would like to work with the provider and vice versa. And remember, if a provider is making you jump through hoops or fill out a bunch of paper work before speaking with you, it’s time to find a different provider.

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For the first conversation, you need to have basic information on hand. Be prepared to answer questions such as:

• What case or cases are you looking to accelerate payment of your fees, or if you are a plaintiff, what portion of your settlement are you wanting to accelerate?
• What’s the current status of that case? For example:
  • Is it settled, or does the case require a court approval?
  • Are there any pending appeals? If the case requires an administration before the distribution can occur, how long?
• How is the settlement being paid?  Is it being paid by an insurer, self-insured, or municipal, or state entity?
• What amount of the settlement or what percentage of your future legal fees do you want to accelerate?
• Are you involved in any other litigation financing deals? Have you ever done any in the past?

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Remember the first conversation is a way to determine if you are a good fit for the type of financing the provider offers AND for you to figure out if you want to work with the them.  That last bit is important! This industry has grown rapidly in the past few years giving you more choice. To that end, here are a few questions you should ask (whether you are meeting with us or another provider):

• How long have you been in business?
• What eligibility requirements do you have?
• Does my case have to be settled for a deal?
• What interest rate do you apply to the funding?
• How do you structure repayments (multiple periodic payments or a single payment)?
• Are there application fees or additional/hidden charges throughout the process?
• What if the settlement takes longer than expected to process?
• What if the settlement amount is less than expected?
• Can I request additional funding if my case inventory changes?
• How does the application process work? How soon can I expect my funding?

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RD Legal views litigation financing deals like partnerships. Yes, you are a client, but both parties need to happy with the deals and process. We encourage everyone to take the time to find the best partner for their firm.

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We would love the chance to earn your business and help you strengthen your financial position. Reach out today, let’s talk.