Lawyers Shouldn’t be Bankers
Firms that operate on contingency typically have significant resources committed to every case that they pursue. In addition to all the hours of work that attorneys put into their cases, there is also the money put into case costs, which is only recouped when a case is successful. This can be a very significant amount of capital, totaling tens or hundreds of thousands, or even millions of dollars depending on the size of a firm. This is a significant amount of money for any firm, and could make a significant positive impact to any number of ventures, including:
- Donations to legal or charitable non-profits
- Supporting pro bono cases
- Business development
- Hiring to increase case capacity
- Contributing to retirement accounts or employee benefits
Law Firm Financing
A law firm financing loan from Case Funding can liberate the funds bound to your pending cases, so you can put that money to better use elsewhere. In many cases the interest cost of borrowing for case costs can be billed to the client when their case incurs costs. Most state bar associations have issued ethical opinions that permit lawyers to pass interest for costs on to their clients, which lets you and your firm maximize the benefits of financing from Case Funding. Contact us to learn more.
This information is for informational purposes only, and not for the purpose of providing legal advice. Attorneys shouldn’t rely on our information and should check with their own state bar for legal advice on any particular issue.
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