Making Lawsuit Funding Companies’ Requests Easier for Your Lawyer

Introduction

Frankly, your lawyer would likely rather be working on cases than dealing with lawsuit funding companies’ information requests.

Thankfully, most also understand the need for funding. They’ve seen hundreds or thousands of plaintiffs struggle with finances during their lawsuits.

Nevertheless, it’s important to stay on their good side. Here are a few quick tips to help you save your attorney’s time for when it counts.

1. Figure Out How Much Lawsuit Funding You Need

If you don’t already have one, it’s time to create a budget. Look at what you’ve spent in the past couple of months, and look at what you’re bringing in. If you’ve never done this before, our guide to plaintiff finances can help.

Tell your law office that you’d like their best guess on how long the case might take because you’re budgeting for legal funding. Once you have an idea of how much money you’ll need to get you through your lawsuit, it’s time to look for lawsuit funding companies.

2. Ask Your Law Office for a Lawsuit Funding Recommendation

Tell your contact person (paralegal, legal assistant, or attorney) that you are looking for legal funding and ask them if they know of any funding companies with good rates. Ask if they can send you an old contract to review the rates and fees.

3. Look for Lawsuit Funding Companies Online

While good reviews are nice, it’s important to call and get some information. Find a few lawsuit funding companies to contact.

Once you have a list of 5 to 10, call each one. Ask about rates, fees, and an example of how these impact a sum of $1,000 over the next year.

“I’m comparing rates and fees with other companies: What’s the maximum you charge for each on my case type in my state?”

Write down what each lawsuit funding company tells you for each, and clearly keep track of which is which.

If any of the funding companies can’t answer that question, promptly cross them off the list. Some companies will insist on a range. That’s okay, but make them give you a range on total fees as well. Write down the highest numbers in the range as your answers.

4. Narrow Down the List of Funding Companies

Once you have this info, choose one funding company you found online and the one your attorney recommended.

Tell your attorney that you’ve applied with the company they recommended and only one other lawsuit funding company. Ask them to send the same information to both companies—this really isn’t much extra work once they’ve already compiled everything.

If both lawsuit funding companies approve your case, look at the one-year and two-year paybacks. Go with the one with the lower payoff.

If you aren’t approved by either of the lawsuit funding companies, tell your attorney you were denied by both and ask if they mind sending your information to two more from your list.

This saves your attorney the hassle of going through several legal funding requests at once, allows you to compare and contrast offers, and ensures that you get a decent rate.

5. Choose a Lawsuit Funding Company

All lawsuit funding companies are basically the same. They’re giving you money, not a product or service. The only real differences are the rates and fees they charge.

Choose the lawsuit funding company that will save you money. You’ll thank yourself when your case settles and you end up with a bigger check.

Uplift Legal Funding’s Meet-or-Beat Promise

Uplift will always try to meet or beat any lawsuit funding company’s contract terms (call for details). We like funding cases; that’s why we’re here, and we want to root for your case to win, too. Apply online or call us today at (800) 385-3660.