New York Legal Financing
LawLeaf is an experienced company providing legal financing services throughout the state of New York. Our company offers services to claimants that are interested in securing legal financing against pending and settled lawsuits. If you are searching for a legal finance company that provides competitive rates and faster approvals, begin by contacting with LawLeaf.
New York Legal financing is often used as a financial stop gap against an early and less attractive settlement. A plaintiff can retain financing against most civil lawsuits including personal injury and commercial litigation suits. A person may use the funds to help pay for medical bills, lost wages and other living expenses. In most cases this money is greatly needed due to a financial uncertainty or to hedge against an insurance company's offer. If you are successful in winning compensation from your claim, you will agree to pay back the lender with interest. You can obtain legal financing in New York by agreeing to use your lawsuit as collateral. By doing so a company will put a lien on your suit and you will be required to pay back the lender only if you win the case.
A legal financing investment is a fairly new concept. In fact most attorneys and plaintiffs are still unaware this option exists. A person that is interested in investing in this newly developed asset class does so at their own risk. This is because legal financing in New York is provided to a plaintiff as non-recourse. A company that offers legal finance will try to minimize their risk of investing in cases that never settle. They will put an application through a review process whereby an underwriter will evaluate the legitimacy of the claim. If a company concludes the plaintiff has a viable suit, they will make an offer based upon the expected outcome
The most common type of legal financing is pre settlement for personal injury cases. Most companies will offer clients finance options against personal injury cases however the client can only obtain funds to help with living expenses; funds will not be approved for legal fees. A company may also provide a client with legal financing against a settled case. A client can borrow against proceeds that have been won but not yet collected. The same goes for commercial suits.
Commercial cases tend to be more complex and can take longer to settle. While most PI cases reach settlement before ever going to court, this is untrue for business litigation. There are select few companies that offering legal financing against such claims and only a handful that will extend financing to help pay for court costs and legal fees. If a company provides legal financing for litigation fees they are often large institutional funds that are interested in complex cases with expected recovery amounts in the tens of millions.
New York Law Firms & Legal Financing:
If you are a law firm or attorney interested in legal financing in New York we can assist you. Our requirements include:
- Complex commercial litigation or class action
- Minimum request amounts of $1 million
- Solid track record of litigating multi-million dollar verdicts or settlements
- Can provide financing on one case or a portfolio of cases
- Provide financing at any stage of the suit
If you are considering applying for legal financing in New York, begin by applying online with LawLeaf. We provide services throughout NY: Albany, Babylon, Binghamton, Bronx, Brooklyn, Brookville, Buffalo, Forest Hills, Garden City, Harlem, Hauppauge, Hicksville, Huntington, Islip, Ithaca, Jamaica, Long Island, Long Island City, Manhattan, Middletown, Mineola, New City, Poughkeepsie, Queens, Queens Village, Riverhead, Rochester, Saratoga Springs, St. James, Staten Island, Syracuse, Utica, White Plains and Yonkers. |
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