What Others Say:
"Because they are also lawyers, they understand the significant capital demands of a large plaintiff practice like ours."
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Cost Finance Q & A
What are the advantages of a CostFinance loan?
By borrowing money for its practice, a firm frees up capital that would have otherwise been tied up in case costs. The firm can use this money for investments, distributions, expansion of the firm or funding of additional cases. Also, the interest on the loan may be tax-deductible as a business expense. In addition, when loans are structured to fund case costs, many states allow firms to pass a portion of the interest the firm pays on to the clients. LawFinance Group works with firms to structure cost-based loans in order to capture this benefit.
Everyone is concerned with the legal ethics of loan programs like this. Are they ethical?
Our Cost Finance program uncompromisingly is ethical. LawFinance Group does not offer legal advice and we do not interfere in the attorney-client relationship in any way. LawFinance Group is run by attorneys who fully understand just how central the issue of ethics is to attorneys and their clients. We are simply offering additional legal financing options that could prove helpful.
Does a firm ever surrender control of its cases or its practice?
Never. Any surrender of control would be unethical. Although we are attorneys and understand the law intimately, we do not offer legal advice or services. We do not assume control of any case, or interfere in the attorney-client relationship. We receive no privileged information. Think of us simply as a passive investor in your hard work.
Is LawFinance Group like a bank or other lender?
LawFinance Group is a financial services company, a licensed lender and broker. As such, we have the flexibility to make both investments in money judgments on appeal and direct business loans to law firms seeking greater liquidity.
How have firms made use of the money provided by CostFinance?
Firms may use Cost Finance funds for any purpose they wish. The firm may use this money to make capital investments, fund distributions to partners, finance expansion of the firm or fund additional cases, to name a few examples.
How do I apply?
Simply fill out our online Funding Application or contact us toll free at 1-800-572-1986 and we will do the work for you over the phone.
If you are an attorney or law firm and you need assistance with financing legal practices, contact our cost finance specialists for a complete discussion of how our experience and resources can be put to work for you.
