Now despite the fact that you "won" your legal battle, there remains the collection process and while gaining a legal victory is imperative, collection of the judgment is equally so because without collection, your judgment is only worth the paper it is written on. With 1st Choice Funding on your side you can obtain the much needed capital for the following types of Post Settlement cases:
Why Don’t Conventional Lenders Make Post Settlement Funding Loans? -
1. Because conventional lenders will not assume the risk involved in a “No Risk” Post Settlement Lawsuit Loan. 2. Because there's no other collateral they can attach outside of the judgment. 3. Because conventional lenders are harnessed buy Federal regulations that do not allow a pending case to be used as collateral for a loan of any type despite the value of your case.
The bottom line is lenders are not is the business of providing charity and they will never provide personal injury litigants financial assistance for any reason. However, 1st Choice Funding’s portfolio of investors provide a solution to the gap lenders don’t offer by providing “No Risk” Post Settlement Lawsuit Loans by providing a "Financial Bridge" until collection occurs.
Why Don’t Insurance Companies Make Post Settlement Lawsuit Loans?
Insurance companies profit from not paying claims make no mistake about it insurance companies are NOT in the business of helping you, they are in business to profit. But 1st Choice Funding tilts the scales of justice in your favor by providing the "No Risk" Post Settlement Lawsuit Loan opportunity.
Simply put a personal loan on a lawsuit is not a loan at all but is instead money offered by private investors who, after evaluating your case see potential success and so they offer you needed cash ahead of a potential future lawsuit settlement. A “No Risk” Post Settlement Funding is the remedy to the financial plight you've been forced to endure and as a suffering plaintiff, you know 1st hand how injuries have taken their toll on your income. Then add to the equation the fact is, the insurance company is in no hurry to settle your case. Why though do insurance companies delay settlement, isn't deliberately delaying settlement illegal? Well here are the facts, decide for yourself the answer:
1. You must reach MMR (maximum medical recovery) which MMR takes time to achieve. MMR provides the window of opportunity the insurance company needs to cover the real issue of increasing profits but your recovery in an injury case is a great cover to their standard business practice.
2. Rather than settling your case for all of the damages your going to sustain, the insurance company seeks the right opportunity to settle your claim for "pennies on the dollar" and reduced settlements don't happen unless the adjuster manipulates the claimant to settle before an attorney becomes involved in the process, because attorneys know how adjusters work, its in their training and part of their profit sharing if they can take advantage of an unsuspecting claimant which they are liable for, and offer a pennies on the dollar settlement early on.
3. The “window of opportunity for pennies on the dollar settlements" occurs statistically when you're most likely to be “starved out financially” which in essence means, months down the road at the earliest they will make a very low offer in hopes you will accept such out of desperation. Remember as long as your treating you haven’t reached MMR, so the insurance company has the "legal loophole" which to exploit. What in actuality occurs is an opportunity to later capitalize on your financial destitution.
4. There’s another even larger added bonus the insurance company has in delayed settlements, as such continue earn interest for the insurance company as long as they control your settlement money. If for as long as possible they collectively add hundreds of millions of dollars in added interest during the lawsuit process. Individually there’s not a huge amount of interest earned off of any one settlement however, when such continues to reside in the insurance pool, hundreds of millions earns tens of millions in interest very quickly. Thus the longer the insurance company maintains control of your settlement money, the more interest they earn and offset the settlement they make with plaintiffs.
5. Additionally the longer an insurance company utilizes delaying settlement, the more interest earnings they acquire which in reality means when they finally do compensate you, by maintaining control for the length of time they have, the insurance company actually looses nothing in most instances because the interest earned equals to or is even more than the settlement itself paid out.
Only a “No Risk” Post Settlement Funding Provides Cash Today Without Risk, No Tricks or Gimmicks and we're not kidding because 1st Choice Funding understands what your up against. We understand the legal system as well as the insurance industry and we also know the financial hardship both create for injured plaintiffs. That's why we have worked tirelessly to develop the most innovative "Risk Free" solution to this paradox while offering to plaintiff's real solution. A Post Settlement Funding is the answer to the financial plight injuries and lost income, and the litigation process leave behind.
Because attorneys are guided by the following Professional Rules of Conduct each attorney must adhere to the following standards set for the entire profession by entities such as the American Bar Association, the State Legislature of each state, the Courts of each state as well as by the Attorney Generals Office and US Attorney Generals Office. For more information of the statutes set by your state please go down the page as each states opinion posted on their respective Bar's website takes you to the ruling. But to provide a synopsis of all such ruling please see the list of facts as itemized:
Fact 1- Professional Ethics:
Attorneys are legally and ethically barred from assisting clients financially no matter the financial hardship a client faces or how the attorney personally feels, the attorney of record can not assist a client with personnel or living expenses. The attorney may only incur expenses for filing fees, expert testimony, or plaintiff's medical care.
Fact 2 Only Disinterested 3rd Parties:
ONLY disinterested 3rd parties are by law in every state LEGALLY permitted to issue a Post Settlement Funding to a plaintiff's for living expenses, as a Post Settlement Funding investors may secure such an advance by a lien filed on the case at the time of issuance.
Fact 3 Professional Disbarment:
Any attorney who violates the mandates regarding assisting clients financially risks professional discipline including; penalties, injunctions or disbarment. No attorney will accept such a risk in behalf of a client no matter how they may personally feel about their clients needs.
Fact 4 Case Risk:
Each lawsuit filed is unique and as a result there's never a guarantee of success on any given case, no matter how clear the liability appears to be. A “No Risk” Post Settlement Funding is a risk to the investor who makes such an advance and risk and interest rates are directly related to each other in a venture capital situation.
Fact 5 The American Bar's Opinion:
According to the American Bar Association, the States Bar for each of the 50 States and the States Attorney Generals Office for each State, only disinterested 3rd parties LEGALLY are permitted to issue a Post Settlement Funding on any case.
Fact 6 Delays In Settlement:
Delayed insurance settlements are a common business practice which generates billions in added revenue to insurance company’s profits every year. Delayed insurance settlements create the right environment for the insurance company when financial hardship for plaintiff is the result. Statistics clearly show economic hardships coerce plaintiffs into accepting fractional settlements and fractional settlements cost both plaintiffs and their contingent attorneys.
Fact 7 Level The Playing Field:
Most injured litigants do not have the financial where with all to endure both the loss of income due to an injury plus delayed settlements. With a “one, two punch” insurance companies are able to create the environment where they obtain the upper hand as clients are offered and accept pennies on the dollar settlements.
Fact 8 Attorneys Earn More Money:
Contingent attorneys earn significantly more money across the board when clients who have received “No Risk” Post Settlement Funding are in the financial position to endure insurance companies delayed settlement tactics. The facts show that a “No Risk” Post Settlement Funding is good for plaintiff's and for counsel because when clients have the financial fortitude to buy the time needed, such time then allows the attorney “the window of opportunity to work effectively in obtaining the maximum settlement on the case.
Fact 9 Interest & Risk Are Factors:
Lawsuit financing interest rates vary greatly depending on the investor. Because not all "No Risk” Post Settlement Funding investors offer clients the lowest rate, clients are best served by a professional financial consultant who works to negotiate in behalf of the client the lowest rate of return for the Post Settlement Funding. Only a professional financial consultant is trained to most effectively represent a client in securing a Post Settlement Funding and only a professional financial consultant can assist a client in obtaining the least expensive return on a Post Settlement Funding. 1st Choice Funding possess an extensive database of investors whose rates are monitored, and only 1st Choice Funding works diligently to place clients with the investors who will offer the lowest rate of return on each “No Risk” Post Settlement Funding issued.
The ever growing trend litigation has opponents and supporters in a gridlock and at the center of the controversy is a new type of service called “litigation funding” or “Personal Loan on a Lawsuit” which they are most frequently referred to as. For opponents their position they say on the Post Settlement Funding debate is clear; Post Settlement Funding are “usurious” and “Post Settlement Funding exploits litigants at a time when they are most vulnerable”. Opponents use terms like “usurious” or “champery” to describe what they feel personal loans are. However for most of the populace terms like “usurious” or “champery” is not used in everyday conversation, but in legal circles such refers to activity that’s illegal which is some pretty strong allegations, so are Post Settlement Funding illegal? Let’s find out.
Now on the opposite side of this issue supporters say their position is clear: “opposing a Post Settlement Funding is objectionable and is the result of an uninformed mind as it appears when opponents blanket a long needed and valuable service like a Post Settlement Funding with emotionally offensive words “exploitive or illegal”, they do so because they “don’t have the facts. Sadly it seems many aren’t interested in learning the facts because of preconceived notions, arrogance, pride or even blatant stupidity, opponents aren’t interested in the facts and the benefits Post Settlement Funding offers” say supporters.
Despite the gridlock both sides agree on one fact; illegal acts are nothing new and are definitely not limited to the arena of Post Settlement Funding. So then the questions remain; are “No Risk” Post Settlement Funding illegal and do they exploit hardship? If so “Why are thousands of attorneys every year supporting their client’s efforts in obtaining a Post Settlement Funding? How do the facts affect your decision and opportunity to obtain Post Settlement Funding? Consider the following regarding this heavily debated issue and then decide for yourself whose side of the “No Risk” Post Settlement Funding issue you stand on.
At the center of the controversy of the “No Risk” Post Settlement Funding isn’t the fact that plaintiffs receive money based on future settlement, but rather on the fact that a Post Settlement Funding accrues interest, which is only paid along with the advance when and if the case settles. For a third party investor, who is the only entity legally permitted to assist the client financially, to advance money on a case without risk to the client or the attorney and then be denied compensation for the risk they assume is not realistic. Ironically the same opponents quoted have been polled regarding the “return” they need if it was their money that was invested in the same cases and quite revealing it is to hear opponents admit “if it was my money I guess I would want the same in return or more.” Is it possible then for at least some of the objections to be coming from another underlying reason not out rightly expressed? What is the real reason opponents object to a Post Settlement Funding? Well you decide.
The facts are for private investors who offer a “No Risk” Post Settlement Funding at best compensated 50-55% of the time for the cases they invest in. Thus built into the interest return is the “risk factor” the investor assumes as well as the loss ratio. Obviously if lives were lived in reverse no investor would need added interest to cover losses, but because none of us knows from day to day what tomorrow will be the cases who are successfully litigated must provide the compensation recovery in order to keep the investor solvent.
Why then would any competent attorney refuse to direct a client who may be in the midst of financial crisis to a Post Settlement Funding? Opponents assert “The interest could prevent the case from settling when the investor wants the advanced money plus interest, and there’s no money left for the client and the client refuses to settle” or “The settlement offer may not cover all the liens on the case and a “No Risk” Post Settlement Funding repayment could prevent settlement from occurring” or “The attorney finds the interest exploitive and wants to protect the client from harm”. While each of these reasons sounds good and it may be on occasion a well meaning attorney discourages a client from pursuing a “No Risk” Post Settlement Funding because they truly are protecting their client, in most instances “protecting the client” from industry normal interest proves actually to be to the client’s detriment as well as the attorneys. The issue has escalated for some attorneys who have refused to cooperate with a client who seeks a “No Risk” Post Settlement Funding on a Lawsuit entirely and while a well meaning attorney may feel convinced their client’s financial interests are being exploited by a Post Settlement Funding, the attorney may actually be jeopardizing their clients full settlement, their survival of life’s necessities and even the relationship the client has with the attorney itself because the client always has the option of taking their case to an attorney who will represent them as well as assist them in obtaining financial staying power through Post Settlement Funding. Thus in the end what really did the attorney gain by opposing the clients efforts to acquire Post Settlement Funding?
Thus while sorting through all the issues still the question remains: Are clients being exploited by a Post Settlement Funding? To answer this question let’s examine 1st Choice Funding's “No Risk” Post Settlement Funding and let’s see if the opponents to Post Settlement Funding have merit in their argument.
Because a Post Settlement Funding is called a “loan” the question remains “is a Post Settlement Funding really a loan”? To answer the question fairly, let’s compare a “No Risk” Post Settlement Funding to a traditional loan and after reviewing the facts, ask yourself; "when was the last time I was offered a traditional loan under these terms.
A loan without credit
A loan even with bad credit- A loan no matter how bad a credit score is A loan without collateral of any kind A loan without employment A loan without a monthly payment A loan without repayment if I loose my lawsuit
Only through a "No Risk" Personal Loan on a Lawsuit are recipients offered money under these terms as capital from private investors becomes available based on the likelihood of litigation success at conservative amounts of 10% of the anticipated recovery conservatively. Why only 10% of the anticipated recovery? To protect the client in the end so when settlement occurs the client receives a fair portion of the settlement after paying the expenses on the case.
Thus it appears when hastily comparing a “No Risk Post Settlement Funding” to a “Traditional Bank Loan” this is not an “apples to apples” comparison but rather an "apples to oranges" comparison. Which one is the apple and the orange depends then on your position regarding Post Settlement Funding. If a plaintiff or their attorney is interest rate sensitive then a credit card advance or a 2nd mortgage will more to the liking because of the lower interest, however because most injured litigants are also suffering with “credit issues” caused by the chain of events along with significantly less or no income at all, making monthly payments are not a viable option, plus there is no loophole if the pending litigation is not won. However the opposite is true with a “No Risk” Post Settlement Funding offer both money today without risk and money today with interest rates averaging 3-5% per month. For many plaintiffs not being strapped with more monthly debts plus being relieved of a repayment obligation if the pending litigation is lost is most appealing then the “no credit needed- no monthly payments ever- no risk Post Settlement Funding” is most definitely the preferred option.
Everyday thousands of litigants are joining the proponent side of a “No Risk” Post Settlement Funding issue and are part of the swelling list of supporters who not only have benefited by a “No Risk” Post Settlement Funding and feel others should have the right to benefit from a “No Risk” Post Settlement Funding as well. The question remains: “Are opponents right? Are litigants being exploited?” Let the facts speak for themselves:
FACT I- Attorneys remain in full control of any case leveraged by a “No Risk” Post Settlement Funding and the investor never interferes with nor jeopardizes the cases integrity at any time.
FACT II- Clients are provided with a “No Risk” Post Settlement Funding contract that discloses all repayment costs in full. This information is provided prior to Post Settlement Funding being issued. There are no later surprises to the client jeopardizing the potential future settlement of the case.
FACT III- Attorney’s are provided with full disclosure of a “No Risk” Post Settlement Funding terms before a client signs the contract, all disclosures are made prior to the Unsecured Loan’s execution.
FACT IV- Attorneys hold no financial responsibility for repayment on cases unsuccessfully litigated which cases have received a “No Risk” Post Settlement Funding against.
FACT V- No terms supersede the original executed a “No Risk” Post Settlement Funding contract without consent of all parties involved. There are no later surprises on a “No Risk” Post Settlement Funding.
FACT VI- Attorneys hold no financial responsibility for repayment on a client’s Post Settlement Funding, even if the attorney acts in negligence in handling a case.
As professional financial consultants 1st Choice Funding specializes in Post Settlement Funding for both Plaintiff’s and Attorney’s. With a company commitment of "Protecting Your Interest from Interest", 1st Choice Funding takes exploitation out of the Post Settlement Funding debate by making a commitment on each funding to secure the lowest rate of interest for the type of risk the case contains. 1st Choice Funding works for clients not investors, thus 1st Choice Funding works to protect the client’s financial interest just as the attorney works to protect the client legal interest.
1st Choice Funding works to protect clients financially when such seek to obtain Personal Loan on a Lawsuit, because protecting clients today is not a commitment it’s a passion. As professionals 1st Choice Funding believes in building lifelong client relationships, relationship for both today and for tomorrow because we believe that while Post Settlement Funding may be a necessity today, our professional financial services are what our clients need for tomorrow and we are here to deliver such.
1st Choice Funding works to “Protect Your Interest from Interest” with a “No Risk” Post Settlement Funding and as such 1st Choice Funding is your 1st step to a smarter financial future as 1st Choice Funding provides your Financial Bridge.
