Choosing the wrong funder for presettlement funding can adversely affect everyone

June 17, 2008

I have recently learned a great lesson at the expense of myself but more importantly my clients. As a broker for lawsuit cash advances, my job is to get plaintiff funding for my clients at the lowest possible rates by a presettlement funding source that will get it done quickly.

I have always had a primary presettlement funding source for my clients who need lawsuit advances. They get the first shot on everything. I have always had a SECONDARY funding source as well. The reason for the secondary one is sometimes the primary doesn’t want to fund a particular request for settlement funding. When this happens I turn it in to the secondary source. Each broker should have a set of criteria that they use in order to determine whether a presettlement funding source is a good fit for them or not.

For me, it has always been 3 things: Lowest rates, fast communication (this one being very important), keep your word once given (rare on this planet but important in business especially). If a litigation funding source will do that, I can keep them busy with new cases steadily because that is what the person who is asking for lawsuit funding wants as well. If not, no matter what justification they give me I look bad and it makes life more difficult for my clients.

This happened recently with my secondary presettlement funding source and now I have clients needing second advances and I have to move them to another company. I wouldn’t mind using the same company because there is a cost associated with switching them but this particular funder asked me to never speak to them again. Why? because I gave them a report card on how they were doing during a request and they couldn’t confront it. They failed miserably at communicating with me. I went 4 days without communication on a case and always felt with this company that I had to push things along. They also failed miserably at keeping thier word. When I started with them, they claimed fast fundings and a 48 hour turnaround. Not true. I told them so and this was their reaction:

They said I was the problem. I agree that I am the problem if I ask a company to do the 3 things above and they can’t. I refuse to lower my standards for anyone. In the world of litigation funding, the client has many options, the funding brokers have many options. I am choosing a different company to be my second option for plaintiff funding. My first source is VERY SOLID.

Posted by Rob Thomas | Filed Under Blog, lawsuit advance, lawsuit cash advance, lawsuit funding, litigation funding, plaintiff funding, presettlement funding, settlement funding | Leave a Comment 

This band ROCKS!!!

June 13, 2008

This has nothing to do with lawsuit cash advances, presettlement funding, litigation funding, divorce settlement advances, law firm loans, attorney funding, lawsuit advances, lawsuit funding, plaintiff funding, or commercial lawsuits.

O.A.R. absolutely rocks. I love these guys out of Maryland. I saw them with my girlfriend and we are in Destin this week and we just got done jammin’ to em’.

I want you to jam to em’ too! Google O.A.R.

Posted by Rob Thomas | Filed Under Blog | Leave a Comment 

Lawsuit advances on Employment Discrimination cases

June 11, 2008

Employment discrimination cases are a growing sector of the annual inventory of new lawsuits. I get the question often from those who find me on the web if presettlement funding is available on this type of case.

The answer is yes. Although they are much more sophisticated type of lawsuit, they still qualify for plaintiff funding. In fact, I successfully funded one last month. The plaintiff received a $5ooo advance and was very happy. The attorney was pleased as well because if their plaintiff couldn’t have afforded to go much further, then they both would have had to settle and take a lower amount than what they could have gotten if they held out.

It is horrible that employment discrimination exists. It is great that settlement funding exists to help those who are going through a lawsuit because of it.

Posted by Rob Thomas | Filed Under Blog, lawsuit advance, plaintiff funding, presettlement funding, settlement funding | Leave a Comment 

Lawsuit loans on Workers Comp cases in Florida?

June 4, 2008

Absolutely. All day long. Why wait for your settlement as the dollar continues it’s decline toward the value of a peso?

You can get a lawsuit cash advance on the future proceeds of your case and you don’t have any monthly payments and you only pay it back IF the case settles. No workers comp settlement - no payback. Why? When the finance company advances you YOUR OWN MONEY on your workers comp settlement they feel like they are taking a good risk, so they take 100% of the risk. Also as emphasized above, it is your money. Why would you have to pay yourself back?

The process is simple and quick through me. Yes, you actually deal with Rob Thomas the whole way through. That won’t change. Apply now by filling out an online application and get your financial problems solved until your settlement! Not many companies do lawsuit loans on workers comp cases in Florida, so get started with me today!

Posted by Rob Thomas | Filed Under Blog, cash advance, lawsuit advance, lawsuit cash advance | Leave a Comment 

In Texas, do you do lawsuit cash advances on severe injury cases?

June 3, 2008

I am getting this question recently. The resounding answer is YES! Of course. In Texas, there has been a great deal of harm done to personal injury settlements and plaintiffs because of tort reform.

The cause of this has been devastating to many practices as well that helped many people get justice from average car accidents. So, the average car accident unless the plaintiff is severely injured, can be hard to pull a lawsuit advance out of. The definition of severley injured is broken bones and surgery candidates.

This sounds morbid, I know. But it looks like the insurance companies do not like to pay what is fair for your pain and suffering. They sure do like to accept your premium payments monthly though!

Posted by Rob Thomas | Filed Under Blog, lawsuit advance, lawsuit cash advance | Leave a Comment 

Misinformed Attorneys, we do NOT take half of your clients settlement!

June 2, 2008

Because I deal in so many lawsuit cash advance deals weekly, I run into periodically a plaintiff who is needing a settlement advance but their attorney will not cooperate. It happened last week! The attorney usually uses three arguements: “It is against the BAR” or “We just don’t do it” or “They will take half of your settlement”.

I want to adress this objection directly of taking half of the settlement. Here is the break down on a payback for a lawsuit advance through my office:

My presettlement funding sources will only advance up to 10% of the case net proceeds. If a client were to get advanced the full 10% and the case drug on for four years then the most the client would pay back was 4x the cash advance. That equals 40%. That is close to half but not half and only in the instance that the personal injury lawsuit took 4 years to settle after the money was advanced.

Attorneys, your 40% is safe. It is not touched and always considered first when it is time to pay back the lawsuit advance. The current average time it takes for a lawsuit cash advance to be paid back is between 1.5 and 2 years.

“What if the client leaves the closing table with a dollar?” I will discuss this in the next blog. Make it a great week!!

Posted by Rob Thomas | Filed Under Blog, cash advance, lawsuit advance, lawsuit cash advance | Leave a Comment