Anyone dealing with any civil case may find themselves in need of financial support. Claimants may need access to the compensation they deserve to cover their costs. Law firms and solo attorneys may need to access litigation financing to cover the costs of pursuing their client’s case.
In many instances, litigation financing can offer the support they need to recover a favorable outcome in their case. High Rise Financial is a litigation finance company that provides financial support for those in need. When you have any anticipated settlement or are working to recover compensation for your clients, litigation financing could solve your financial troubles.
What Is Litigation Financing?
Litigation financing is also commonly referred to as third-party funding. Here, litigation finance companies provide financial support to injury victims, civil claim plaintiffs, solo attorneys, and law firms who hope to access a portion of their anticipated settlement ahead of time.
Generally, this is necessary when one or more of these parties has excessive expenses and no way to cover them. Multiple types of litigation financing may be available depending on the specific circumstances of your case. These include:
- Consumer litigation financing
- Commercial litigation financing
- Single-case financing
- portfolio litigation financing
- Multi-party litigation financing
Consumer Litigation Financing
With consumer litigation financing, the lawsuit loan company will provide those dealing with civil claims or personal injury lawsuits access to an advance on their settlement. These loans are almost always non-recourse and are repaid only when the claimant’s settlement funds come in.
The amount of compensation available in a consumer application can vary widely depending on the anticipated settlement and other factors. Generally, consumer litigation financing can offer thousands of dollars in financial support.
Commercial Litigation Financing
In commercial litigation financing, the lawsuit loan company will provide a non-recourse investment into the case. Then, when the plaintiff wins, the lawsuit loan company will be entitled to a portion of whatever the plaintiff wins.
Some of the different types of commercial litigation cases High Rise Financial can support include the following:
- Commercial disputes
- Contractor disputes
- Purchasing law firm receivables
- Judgment enforcement campaigns
- International arbitration issues
- Monetization of trial awards at appeal
It is not unusual for commercial litigation financing to bring in millions of dollars in financial support so plaintiffs can win their cases.
With single-case litigation financing, lawsuit loan companies provide financial support to law firms or plaintiffs dealing with a single lawsuit or going through arbitration. Single-case funding may also be available for defendants on a case-by-case basis. Some of the most common types of single-case financing include debt satisfaction claims, working capital lawsuits, and other civil claims.
Portfolio Litigation Financing
Portfolio litigation financing is designed to provide financial support to law firms or solo practitioners dealing with multiple civil lawsuits or arbitration. It costs money to build cases of this size, and obtaining portfolio litigation funding makes it possible to fund several cases simultaneously. Once the law firm wins the case, it will repay the funds it borrowed based on the terms of its agreement.
Multi-Party Litigation Financing
Multi-party litigation funding is also commonly referred to as class action lawsuit financing or group claim lawsuit financing. Here, when a group of victims is being represented together through a larger suit, the lender will provide financial support to help cover the costs of pursuing the case and gather evidence to prove the defendant’s liability.
Some of the most common types of cases involved in multi-party litigation financing include:
- Product liability lawsuits
- Environmental liability lawsuits
- Shareholder or securities liability actions
To apply for free, call (877) 735-0016
What Are the Advantages of Litigation Financing?
If you are still determining whether litigation financing is the best fit for your financial needs, it is essential to consider the advantages. Here are some of the pros of going with High Rise Financial for your litigation financing needs:
Law firms and solo attorneys can cover the costs of pursuing their cases out of their own pocket, taking out a personal loan, or considering litigation financing. However, when you take out a bank loan, you will need to pay compound interest, which could jeopardize your credit.
If you lose your case, you must still repay the bank loan. However, with litigation financing, your loan is non-recourse. You only have to repay the funds you borrowed if your case succeeds. Since High Rise Financial does not charge compound interest like financial institutions do, you do not need to worry about jeopardizing your credit or falling further behind if you lose your case.
You can reduce your personal and professional risks when you go with litigation financing. Since your debt will not be tied to the federal reserve interest rates and, therefore, subject to rising interest rates, and you are not subject to compound interest, there is little to no risk in getting set up with the financial support you need.
Litigation financing gives you the immediate financial support you need when you need it most. If you go with a bank loan, you could expect it to harm your law firm’s profits. But with legal funding, there is no impact on your business. Litigation financing has even been known to boost revenue, which can help your law firm succeed in the long run.
Contact High Rise Financial for Litigation Financing Today
Litigation finance companies offer the financial support you need when you need it most. Whether you are a solo practitioner or law firm hoping to maximize the compensation your clients win or are a client fighting for the compensation you deserve when someone else causes you injuries or damages, High Rise Financial is here for you.
We offer litigation financing to those struggling to cover essential costs. Get an advance on your settlement when you apply for our pre-settlement legal funds today. You can complete our online application, call our office, or fill out our quick contact form to reach one of our experienced loan specialists.
Once your application is approved, you can access your litigation financing in hours.