Intermittent, unpredictable cash flow combined with any other real-world factor like a slow economy, case delays or even a bad decision or two can be all it takes to bring an otherwise healthy law firm to its knees. Law firm funding can bring order to an otherwise chaotic part of your day-to-day operations.
It’s no secret that running a contingent-fee legal practice is a speculative, costly, high-risk endeavor – even on a good day – and maintaining a war-chest brimming with fresh working capital is an essential ingredient to the long-term success of every law firm.
Strong, steady cash flow is the lifeblood of any law firm. So to survive long-term, you must think strategically about litigation finance to guarantee that yours stays reliable and predictable. TriMark Legal Funding LLC offers several powerful litigation funding solutions to help you do just that.
Litigation Funding Solutions
Our litigation financing solutions are designed to help you maximize the value of your fees by leveraging your firm’s largest asset – the latent value of your existing case inventory – to establish and maintain a competitive advantage:
- Attorney Fee Acceleration
- (Settled cases) If your client’s case has settled and you’re waiting on your fee but you need money now, attorney fee acceleration is the answer. We can buy up to 50% of your anticipate fee. Acceleration of attorneys fees is fast, flexible and very affordable. ($10,000 minimum fee required).
The Harsh Realities of Contingent Fee Law
Gambling with your firm’s cash reserve is risky at best. At worst, it can be catastrophic. After all, it only takes a couple of losses or bad decisions to cause an acute shortage of cash that can cripple your legal practice or worse, drive it straight into the ground.
It can be a tough lesson to learn, but being a good lawyer is not the only consideration when you manage a law firm. That’s especially true when you’re taking on defendants with deep pockets. You constantly have to think about working capital to cover your operational expenses too. Litigation frequently boils down to a war of attrition where victory is determined as much by the financial resolve possessed by each side as much as it is by the merit of the case. Winners negotiate with the deck stacked in their favor and our legal finance options can help
A lot of legal practices have disappeared in the last few years because their bank financing evaporated right out from under them and they lacked sufficient liquid capital, financial reserves or a backup plan to stay in the fight. Don’t let that happen to you and your practice.It’s a harsh lesson to learn, but being a good lawyer is not the only consideration when you manage a law firm, especially when you’re taking on a defendant (or multiple defendants) with deep pockets; you’ve got to think about working capital to cover operational expenses too. Litigation frequently boils down to a war of attrition where victory is determined not so much by the merit of a case as it is by the financial resolve possessed by each side. Winners usually negotiate with the deck stacked in their favor.
Litigation Financing Puts You In Control
The ‘Achilles Heel’ of many legal practices, especially newer ones, is that they rely heavily (or completely) on the availability of bank loans or bank lines of credit for their working capital. The problem is that most banks and financial institutions are totally incapable of accepting or even understanding how to assess the latent value of a law firm’s single largest asset; it’s case load of future contingent attorney fees. To the contrary, most banks only understand and accept hard collateral like good credit, real estate and other high-value personal assets.
On the other hand, even if you could get bank financing, relying solely on a bank line of credit as your law firm’s primary source of operational financing can be a surefire recipe for disaster – especially in a turbulent economy. Just ask any of the thousands of now-defunct law firms who learned the hard way over the last few years that relying on a bank line of credit without a backup plan is an exceptionally risky and potentially fatal way to run a law practice.
TriMark Legal Funding LLC offers a better, smarter, far less risky alternative. Our lawyer fee acceleration and litigation financing programs maximize the latent value of your contingent fee case load to provide all the working capital you and your law firm need.
Tapping your law firm’s precious cash reserves can be just as dangerous. And the worst option of all? A personal loan secured with a personal guarantee and the personal assets of the firm’s owners or partners; it just doesn’t get much riskier than that.
Get Legal Financing Now
Litigation loans are one of the smartest, safest, most intelligent and most cost-effective way to finance attorneys or finance law firms is by using a firm’s largest, most readily available and most renewable asset: the future legal fees of it’s attorneys. The legal finance experts at TriMark Legal Funding LLC understand that kind of collateral perfectly and we’ve known for years that future lawsuit settlements and contingent lawyer fees make EXCELLENT collateral.