What is Your Attorney’s Part in Lawsuit Funding?

Legal Funding FAQ's

Can my Attorney offer Lawsuit Funding?

The answer to this is not completely straightforward in every state. Most state bar associations prohibit your lawyer from providing you financing as it goes against professional ethics by creating a conflict of interest. In receiving financing from your attorney, he or she now appears to have a personal stake in the case and may have good reason to settle the claim more quickly or for less money to be in order to recoup his or her financing.

For arguments sake, let’s say your attorney provides you financing. In the end, you believe your settlement was too small so you don’t think you should have to pay back the financing. Do you sue your attorney? Does your attorney sue you? What happens if the attorney refuses to release the settlement money until he or she is paid back? It is for these reasons and the advantages of legal funding that 3rd party funding companies have grown in popularity.

What Role does my Attorney Play in the Process?

Your attorney may however provide a client with legal funding tips as well as information about companies that offer non-recourse advance funding if he or she thinks it is in the best interest of the client. Your attorney should be able to recommend a legal funding company his or her firm has a relationship with or has worked with in the past.

It will behoove you to explain your financial situation to your lawyer and the reasons you need litigation financing. Your lawyer is quite possibly the most important part of the equation in obtaining financing. Your lawyer must agree to cooperate with the funding company and provide any pertinent details involved with your case.

A legitimate funding company is not just going to give money out to every prospective client. A legitimate funding company will discuss specifics regarding your case directly with your attorney.

The Thrivest Difference

At Thrivest, we provide flexible financial options to help businesses and individuals meet their cash flow needs. Our friendly staff of funding experts guides each client from beginning to solution. We adhere to the principles of Quality, Honesty, Community, and Creativity. If you think our pre-settlement legal funding solutions could be the right fit for you, please call one of our lawsuit funding specialists at 888-697-7352. Or to apply online, simply CLICK HERE and fill out our quick form application.