Consider the scenario of referring a legal case to another law firm, where not only do you secure a more substantial fee split, but you also sidestep the responsibility of covering case expenses. While examining the prevalent shared case model among personal injury plaintiff lawyers, it becomes apparent that many attorneys share cases with other firms for reasons such as leveraging the expertise of another firm or mitigating the substantial costs associated with handling litigation expenses.
In such instances, the referring lawyer often finds themselves negotiating for a 40% share of the contingency settlement. Now, envision this involving a 7 or 8-figure case. If there were a way to negotiate a split of 50% or more, the financial impact on your firm could be significant. However, the challenge lies in the financial constraints that prevent you from covering the high costs associated with managing such cases.
What if I told you there’s a way to negotiate a more favorable fee split without directly bearing the burden of covering case expenses? By leveraging external financing and adopting an innovative approach to handling case costs within your firm, you can indeed have the best of both worlds.
Capital Financing has disrupted the traditional business model of law firms shouldering their clients’ case expenses and has redefined the norm. Let’s face it—the only reason you cover your clients’ case expenses is that they can’t afford them on their own. But what if they could cover their own expenses, enhance the value of their case with superior experts, and assume no financial risk in the process? Intriguing, isn’t it?
Capital Financing assumes the costs associated with a case without delving into the law firm’s finances or requiring personal guarantees from the lawyer. We evaluate cases based on the information provided by the law firm. If the case aligns with the requested amount, we advance the money on behalf of the plaintiff, relieving the firm of the financial burden of covering costs. All fees are then recouped at disbursement, where the client has invested in their overall case outcome by allowing Capital Financing to cover all their costs. The best part? We offer this as a non-recourse benefit, eliminating risk for both the law firm and their clients. It’s a win-win situation.
To delve deeper into Capital Financing’s Case Expense Financing program, feel free to reach out via email at info@injuryfinancing.com or visit our website at www.injuryfinancing.com for more information.
