Potential Impact of Florida Tort Reform on Medical Fundings
The implications of the recent Florida Tort Reform law (HB 837), signed into law on March 24, 2023, are still unfolding. The following are Cartiga’s observations on the provisions governing the evidence admissible to prove medical damages in personal injury and wrongful death cases and how those provisions impact a plaintiff’s payment for medical treatment […]
How to Mitigate the Risks in Consumer Legal Funding
Consumer legal funding provides money to individuals who are pursuing personal injury claims. Legal funding empowers consumers by giving them the money they need to pay their medical bills and living expenses while waiting for a recovery on their legal claims. Legal funding also “levels the playing field.” Consumers can reject “lowball” settlement offers from […]
How A Bankruptcy Filing May Affect A Personal Injury Claim
What happens if your personal injury client files for, or has filed for, personal bankruptcy? Can you continue to represent that client? Can your client still make decisions about his or her legal claim? Does your client retain the right to proceeds from the claim? These are critical questions you will have to navigate. Federal […]
The Top 5 Financial Challenges
Whether fresh out of law school or a well-established partner, every personal injury lawyer faces certain inevitable financial challenges and volatility in their practice. The shifting of professional goalposts can make money management an ongoing and all-important task. As a personal injury lawyer, your job is to help others in vulnerable positions. You can best do so if you also protect yourself from financial insecurity in the process. To ensure you and your firm are well-equipped to minimize stress and maximize legal success, check out some of the most common financial challenges for personal injury lawyers – and tips for addressing them – below.
Demystifying Consumer Legal Funding Pricing
Consumer legal funding companies provide funds to individuals to cover basic living expenses while they pursue legal claims. In return for those funds, legal funding companies purchase an interest in any proceeds that individuals may recover on their legal claims, and individuals agree to make payments to the funding companies from any proceeds that are recovered. The individuals have no obligation to make payments if they do not obtain a recovery (in other words, the funding arrangement is “non-recourse”), and their obligation is to make payments only from the proceeds recovered.
A Basic Guide to Finance Options for Lawyers and Their Clients
Trial lawyers face a Catch-22 when they work to build their litigation business: they always need additional capital to take on potentially lucrative new cases, but accumulating these funds is often infeasible. This is because their recoveries on existing cases are often consumed by the day-to-day costs of running their practice and providing their existing clients with optimal service.
Having a full understanding of all available funding options can help trial lawyers grow their practice and stay on the path to future success without impairing their existing business. For those who feel stuck in the Catch-22 of capital formation, here’s a basic primer to help you understand your choices, so you can determine what makes sense for you.
Money is Stressful
Managing finances can be challenging — even for lawyers. While popular culture portrays attorneys as big moneymakers, the reality is that many routinely grapple with financial stress. This is especially true for lawyers running their own practice and recent law school grads who are navigating the hefty cost of student loan payments. Lawyers can be highly intelligent experts in the law. But that does not make them masters of finance. In fact, there is mounting evidence that money troubles are taking a toll on the health and careers of lawyers. Here are four things lawyers can do to position themselves for financial success.
Advertising Options That Can Lead to New Clients at a Reasonable Cost
Trial lawyers face a Catch-22 when they work to build their litigation business: they always need additional capital to take on potentially lucrative new cases, but accumulating these funds is often infeasible. This is because their recoveries on existing cases are often consumed by the day-to-day costs of running their practice and providing their existing clients with optimal service.
Having a full understanding of all available funding options can help trial lawyers grow their practice and stay on the path to future success without impairing their existing business. For those who feel stuck in the Catch-22 of capital formation, here’s a basic primer to help you understand your choices, so you can determine what makes sense for you.
