When selecting a legal funding partner, it’s essential to thoroughly evaluate their credibility, terms, and overall alignment with your client’s needs. Here are key factors to consider:
1. Reputation and Credibility
- Research the funding company’s reputation by talking with your peers and clients.
- Review how they support your organization and its membership.
2. Funding Terms
- Understand the repayment terms.
- Review the fee structure associated with the funding for clarity.
- Check for hidden fees, penalties, or compounding interest.
3. Experience and Expertise
- Assess the company’s experience with cases similar to yours (e.g., workers’ compensation, personal injury, civil).
- Ensure the company understands the legal process and timeline for your case type.
4. Transparency
- The funding partner should clearly explain all terms and conditions upfront.
- Ensure they provide a straightforward and easy-to-understand contract.
5. Speed of Funding
- Consider how quickly the company can approve your client’s request and disburse funds, especially if they need immediate financial assistance.
6. Flexibility
- Look for a partner that offers customizable funding amounts to match your specific needs.
- Ensure you can request additional funding if your case timeline extends unexpectedly.
7. Impact on Your Case
- Confirm that the funding partner does not interfere with your attorney’s handling of the case.
8. Attorney Recommendations
- Consult other attorneys about potential funding partners. Experienced attorneys may have insights or recommendations based on their past dealings.
9. Cost-Benefit Analysis
- Compare the cost of funding with the potential benefits (e.g., covering living expenses, medical bills, or legal fees during a lengthy case).
- Avoid overborrowing to minimize financial strain post-settlement.
10. Customer Support
- Ensure the funding partner offers excellent customer service and clear communication throughout the process.
By carefully considering these factors, you can choose a legal funding partner that meets your needs and provides financial relief without jeopardizing the outcome of your case.
Capstone has enjoyed a mutually beneficial partnership over the past 18 years with Florida Workers’ Advocates and its attorneys. Capstone has taken pride in exceeding these key criteria. While Capstone is an outside partner, its standard of excellence provides a seamless experience to the clients entrusted to us.
If you have a client in need of financial assistance while you pursue the litigation of their case, please call Capstone directly to begin the process of review and approval at 502-645-7662.