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 […]
In today’s data-driven world, the legal industry is continuously seeking innovative ways to improve decision-making processes and outcomes. One such advancement involves utilizing aggregated court records to predict lawsuit case values. This groundbreaking approach has the potential to revolutionize the legal field by providing valuable insights that can inform case selection, settlement negotiations, and risk […]
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 […]
New York, Oct. 31, 2022 Cartiga has donated $100,000 to the Innocence Project and become one of its prominent corporate sponsor and an advocates. This donation will aid in the Project’s great work exonerating wrongly convicted individuals. The Innocence Project represents clients seeking post-conviction DNA testing to prove their innocence. It also consults on a […]
In recent years, individual plaintiffs have increasingly utilized consumer legal funding (“Consumer Funding)” in connection with their personal injury claims. Consumer Funding provides money to individuals who are pursuing those claims and who need cash in the meantime to pay basic living expenses. In exchange, the funding companies receive an interest in any proceeds that […]
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 […]
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.
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.
If you were disappointed by the Florida Bar Board of Governor’s November 8, 2021 decision to reject the proposals for non-lawyer ownership of law firms, you are not alone. Many small to mid-size law firms were hopeful that infusions of equity by non-lawyer investors would be a solution to uneven cash flows, the need for capital to grow a practice area, and the rising costs of running a law firm business.
Being involved in an accident is traumatic. And for those who are injured, the aftermath can be just as bad. Victims often find themselves juggling the technical aspects of legal claims and police reports while they are attempting to rest and recuperate. During this stressful time, insurance companies frequently make a settlement offer, and exhausted victims can be tempted to accept the sum, just so they can be done with the whole experience. But be forewarned: while an initial settlement offer can be alluring, it rarely amounts to what the victim truly deserves.