Attorneys and plaintiffs use The Legal Funding Group for financial assistance during the litigation process. Law firms use legal funding services to grow working capital, while plaintiffs use them to stay afloat financially while their injury claims are making their way through the legal process.
In the aftermath of a traumatic accident, the cost of living and mounting medical bills can prove overwhelming to those already dealing with physical pain and emotional stress. Lost wages and unexpected outlays often put families on the brink of collapse. Even though such individuals may have a robust case for compensation, it may be months or years before any money is paid out. The Legal Funding Group provides the resources these individuals need to continue their recovery process while awaiting their case’s successful conclusion.
The Process of Securing Legal Funding
1. Phone or Online Application
We offer an application process for pre-settlement funding in Phoenix, AZ, that can quickly be completed via telephone or online. This helps ensure that you receive the funds you need as promptly as possible. Our team is likely to request documentation from you and your legal team, and you will need to confirm that the application information is accurate. This way, we can contact you should we have questions about your case or where to deposit your funds.
2. Lawyer Verification
The attorney handling your legal claim will play a significant role in our ability to approve your funding request. Before we can disburse your settlement advance, we will need to contact your lawyer to verify your claim’s details. We will supply the attorney with a document explaining that you have sought an advance from The Legal Funding Group, and we are asking for information about the case that will help us approve your lawsuit loan.
The verification process required for loan approval by The Legal Funding Group includes questions about your case’s specifics, the damages suffered in the injury event, and the defendant’s ability to pay any settlement or award. You will need to complete a release permitting your attorney to discuss these details with us. We will also take a look at whether any prior claims or lawsuits exist that could hinder your eventual receipt of compensation in your case.
3. Approval and Disbursement
For your loan to be approved, our team will review the application you submitted, the facts of your legal claim, discussions with your attorney, and confirmation of all other relevant information. If you promptly provide this information and everything is as represented, you can obtain approval for your application and disbursement of funding within 24 hours.
If you are approved for funding through The Legal Funding Group, we offer several ways to receive your funds. We can send a check via overnight courier, a cashier’s check, or wire funds directly to your bank account.
Qualification Process for Legal Funding in Phoenix, AZ
To be approved for legal funding, here are some essential qualifications to keep in mind.
- First of all, you will need to demonstrate that your legal claim is a strong one. Given that any legal funding firm necessarily assumes a bit of risk by advancing funds based on the likelihood of a future settlement or award, it will be necessary to show that your case will probably have a favorable resolution.
- You must also be represented by an attorney working on a contingency basis, meaning that your lawyer will only receive a payment if you achieve a positive outcome in your case.
- Finally, you will have to show that the defendant in your case has the financial wherewithal to pay any settlement or damage award amount, either personally or via insurance coverage.
If you have demonstrated that you meet the above criteria, there are a few other considerations the legal funding team will review.
- Your claimed damages will be examined, including physical, mental, and financial losses caused by the incident at issue. Funding used to be available only to those who suffered severe harm, but today, such loans can be extended to those whose trauma was less severe, including victims of sprains and other soft tissue injuries.
- Furthermore, the funding company will look into whether substantial expenses are to be deducted from a damage award or settlement amount besides the attorney’s legal fees. These could include liens placed on settlement monies or jury awards, which must be disclosed to the lender.
- Lastly, the attorney representing you must be aware of and approve your receipt of a lawsuit loan in Phoenix, AZ. Your lawyer will be required to provide critical information about the case for you to receive funds, and therefore, he or she must agree to do so willingly.
Attorney Funding in Phoenix, AZ
Lawyers representing plaintiffs in litigation may be interested in exploring the option of attorney funding. This is a type of loan offered to lawyers to help finance their practice for a given period so that they have the flexibility to accept cases that would otherwise be too costly.
Funding of this sort can be customized to meet the needs of contingency fee attorneys who require case settlements or jury awards to stay in business. Loans can be designed to suit the specific needs of an attorney, including timeframes and budgetary requirements. The freedom these advances provide can help lawyers build strong cases for their clients and achieve the victories necessary to expand their practices further.
By obtaining financial help from The Legal Funding Group, you can construct the most robust possible case for your clients by enlisting the help of expert witnesses, commissioning research, and paying for other litigation expenses. Other benefits include:
- Improved Operating Capital and Cash Flow – Our services can supplement your cash flow and capital position so that you can remain competitive in a challenging market. When ongoing cases cause a cash bleed, funding options can keep things going until awards are received and outstanding legal fees are paid. The Legal Funding Group understands the challenges that face lawyers today, and we know how to construct customized solutions to facilitate cash flow, monetize assets, and free up critical capital.
- Developing Your Law Firm – Growing a legal practice requires resources to pay for marketing plans and personnel support. Our attorney funding in Phoenix, AZ, provides a way for lawyers to access the money necessary to make the most of their opportunities.
Cases Eligible for Legal Funding in Phoenix, AZ
The Legal Funding Group regularly provides lawsuit loans in Phoenix, AZ, for those pursuing personal injury cases and the law firms that serve them. Some common types of cases for which we provide funding include:
- Vehicle accidents
- Personal injury
- Medical malpractice
- Dangerous drugs
- Dangerous consumer products
- Premises liability
- Dog bites
- Nursing home abuse
- Slip and fall
Important Arizona Legal Information
- Statute of Limitations – In Arizona, plaintiffs have two years to initiate legal action based on a personal injury event. The clock begins to run from the date of the accident itself or from the date the injury becomes apparent, in most cases.
- Negligence Laws – Injury cases in Arizona are assessed in light of the comparative negligence doctrine. This means that injury victims may still receive compensation even if they bear the majority of fault for what occurred, though their percentage of fault will reduce their recovery. However, it should be noted that plaintiffs are barred from recovery if they intentionally initiated or deliberately compounded the injuries claimed.
- Dog Bites – In Arizona dog bite cases, if a dog bites an individual in a public location or legally in a private area, the owner will be held liable for the victim’s injuries, regardless of whether the owner lacked prior knowledge of the animal’s propensity to attack.
- Minimum Amount of Liability Coverage –
- Bodily injury liability coverage: Minimum $25,000 per person / $50,000 per accident
- Property damage liability coverage: Minimum $15,000
- Uninsured motorist bodily injury coverage: Minimum $25,000 per person / $50,000 per accident
- Underinsured motorist bodily injury coverage: Minimum $25,000 per person / $50,000 per accident
Apply Today for Legal Funding in Phoenix, AZ
The Legal Funding Group is committed to assisting injury victims who are pursuing justice and accountability but who need temporary financial resources in the meantime. Our skilled funding professionals will provide the help you need so you can focus on recovery.
If you need legal funding in Phoenix, AZ to help you win your case, contact us today. We may be able to help.