How Settlement Financing Helps AttorneysFebruary 13, 2013
By keeping plaintiffs financially secure during long periods of litigation, pre-settlement funding enables personal injury attorneys to diligently fight for a fair outcome. Like their adversaries, plaintiffs are able to withstand prolonged litigation to achieve a favorable result, which in turn allows personal injury lawyers to thoroughly pursue claims to maximize recovery.
Plaintiffs’ lawyers working on a contingent fee basis will benefit from a maximum recovery, as a larger settlement or damages award results in a higher fee. Moreover, attorneys derive much of their business through satisfied clients, who serve as valuable referral sources and repeat customers. A client who perseveres to recover a substantial sum will enhance his or her lawyer’s reputation through word of mouth, and will be more likely to contact that lawyer for future legal needs. And of course, taking the time to build a formidable case for one’s clients, and achieving a substantial settlement or damages award, will be of benefit in pursuing future awards and settlements.
Once viewed with skepticism, financing providers have become trusted partners who work closely with attorneys and their clients to manage pre-settlement and post-settlement funding, enabling all parties to achieve optimum results.
Further information regarding legal funding is available through the American Legal Finance Association (ALFA) at americanlegalfin.com.