On May 1, Berkshire Hathaway held their annual shareholder meeting virtually due to the restrictions on public assembly imposed in Nebraska because of the novel coronavirus (COVID-19). Labeled the “Woodstock for Capitalists” by Warren Buffet its CEO, Berkshire Hathaway is a multinational conglomerate holding company for subsidiaries such as Benjamin Moore, GEICO, Dairy Queen, Fruit of the Loom, and Duracell. Charlie Munger, the company’s 96-year-old co-chairman, recently told the Wall Street Journal that, “we just want to get through the typhoon, and we’d rather come out of it with a whole lot of liquidity.”
If you represent clients with pending lawsuits for personal injuries or workers’ compensation claims, you already know that your client has been stuck in a typhoon storm before COVID-19 was added to the storm mix. A devastating physical injury wreaks havoc on your client’s body and finances real time with each day, resulting in a new monetary deficit. Like Mr. Munger, your personal injury or workers’ compensation clients would rather come out of their personal ordeal with a “whole lot of liquidity.” However, they do not have the deep pockets to weather the storm as Buffet and Munger do.
As court delays mount and your client’s health continues to delay a return to work, your client will push you to resolve the case because they need the money to cover the basics – shelter, food, and clothing. If your client has children, their anxiety around being able to meet their family’s basic needs will be twofold. How can you help your client weather the storm? Seriously consider advising your financially vulnerable clients about pre-settlement financing as an option for money now.
To bridge the financial gap during your client’s recovery period, consider having them apply for pre-settlement funding.
How We Help Your Clients
Capital Financing provides pre-settlement financing to people who have been hurt after an accident where they sustained personal injuries or at work and then file lawsuits for their accident claims, including workers’ compensation claims. We fund on-the-job injuries, car accidents, biking accidents, motorcycle accidents, slip and fall or premise liability accidents, medical malpractice, products liability, dog bites, and assault cases. We provide a loan or advance against your client’s workers’ compensation case or personal injury case before the case is complete.
How Much Do We Loan?
To determine a loan amount, we review your client’s case by examining their medical record and your case file. We will ask you to provide us with information about your client’s injuries, medical treatment they have received or will continue to need post-resolution of the legal action, the extent of their property damage, and forced time off of work period along with the corresponding lost wages. Additionally, we will ask you to provide us with police reports, medical records, accident reports, emergency room billing invoices, insurance declaration pages, and diagnostic medical imaging reports.
Client Communications During the Application Process
We handle all communications with your client about their legal funding request or loan application. After you submit the required attorney portion of the application process and provide the requested supporting documents, we take it from there, and manage all client communications regarding the loan. We will continue to make periodic inquiries into the status of the matter directly with you. We are a paperless lawsuit funding company. All documents provided by you to us are transmitted electronically and kept strictly confidential and secure.