An initial pre-settlement advance to cover a client's short-term expenses may not be sufficient when a case drags on
Los Angeles, California, June 2, 2017 (Newswire.com) - Delays are part of the legal system. A case that was supposed to be resolved in a few months can easily stretch to many months or years. An initial pre-settlement advance to cover a client’s short-term expenses may not be sufficient when a case drags on and additional months of day-to-day living expenses or unexpected costs are incurred.
“Plaintiffs who have not yet received the maximum pre-settlement advance can request additional funds by first notifying their attorney and then filling out a second funding application with a plaintiff advance company,” says Rockpoint Legal Funding President Ramtin Ghaneeian.
“With Rockpoint Legal Funding, the application is submitted and reviewed through a paperless online process.”
Second and third pre-settlement funding advance requests are not uncommon. Additional advances are made in the same manner as the initial funding — typically within hours of approval of the application. Money is forwarded to the plaintiff through wire-transfers, direct deposit, check or Western Union.
These advances can be made so long as a case has enough value to support such advances. “One situation attorneys want to avoid is over-advancement to their clients, where there are insufficient funds remaining for the client upon settlement,” says Ghaneeian. “Attorneys should seek a funding company that puts the law firm’s interests above their own economic interest and never tempts clients with the possibility of over-funding.”
With all the things that injured plaintiffs go through, worrying about how to pay the rent or feed their family should be mitigated while waiting for a settlement or case proceeds to be disbursed. “The option of subsequent pre-settlement advances can help alleviate some of these worries,” says Ghaneeian.
About Rockpoint Legal Funding
Rockpoint Legal Funding encourages clients to consider case funding after they’ve exhausted other means of funding such as personal savings, friends, or family. Rockpoint will fund a conservative dollar amount to ensure there are adequate proceeds upon settlement. The goal of funding is to provide clients the ability to cover living expenses and to not interfere with the attorney's ability to settle the case. https://rockpointlegalfunding.com/
Source: Rockpoint Legal Funding