It takes a tremendous amount of perseverance, grit and personal sacrifice to grow a successful law practice. Beyond the challenges of passing the bar there are the fundamental tasks of opening an office, finding qualified staff, setting up case management systems, marketing and lead generation investments and countless other important issues to contend with. Then finally, after all of the years of effort and substantial amounts of money invested, you get a really good case that goes to trial. You know you and your team are up to the task–you’ve done an amazing job of discovery, prepared compelling arguments and feel confident that you will be awarded substantial compensation for your client and ultimately a large payout for your firm.
After many months or even years of litigation, you win your suit and are awarded what seems like a huge sum of money. Time to celebrate, right? Unfortunately, not always. Large corporations are not in the business of paying large judgements too soon and will often delay final outcomes indefinitely through the appeals process in the hopes of wearing your firm down. It happens all the time—their motive is that you will accept far less just to get out from under the stress of dwindling resources and the uncertainty of a possible reversal of the judgement.
Here is what Justice Powell said in Joseph R. Biden, Jr’s, Equal, Accessible, Affordable Justice Under Law: “As the costs and delays of civil litigation increase, the ideal of equal justice is unfulfilled. All too often …the party with the greater financial resources … prevails by exhausting the resources for the weaker opponent. The mere threat of delay or unbearable expense denies justice to many actual or prospective litigants. Persons or businesses of comparatively limited means settle … and relinquish claims simply because they cannot afford to litigate …”
So, you finally have a substantial money judgement but client and firm resources are quickly diminishing and you are facing an arduous appeal. . . what are your options?
Fortunately, reputable firms exist to provide the necessary financial resources to see the suit through the appeals process. It can make all the difference to have that financial burden lifted and provide the funds needed to help balance the scales of justice by leveling the playing field against a financially stronger opponent. It’s a way to gain the added liquidity required to meet the financial demands facing a deserving plaintiff and attorney. It can also help eliminate the financial pressure to accept an unfair offer. Ultimately, it enables a plaintiff and an attorney to make decisions based solely on the merits of the case.
An example of this type of financial help is through Appeal Funding Partners. AFP provides plaintiffs and trial attorneys with immediate cash before the appellate decision is reached. There are no restrictions on how the money is used. Trial attorneys may use the appeals funds to pay appellate attorneys fees, staff salaries, even marketing and lead generation expenses to keep new clients coming in the door. How the money is used is solely up to the law firm. Plaintiffs may use the funds to pay personal bills, reduce personal debt or simply to set cash aside, free from risk if the case is ultimately lost.
An often misunderstood part of appeals funding is that it is a loan but the reality is that the money does not need to be paid back if you lose your case or it drags on indefinitely. There is no interest, no monthly payments, no mortgage liens, no wages liens, nor liens on your bank accounts and, in the case of Appeals Funding Partners, does not offer legal advice or interfere in the attorney-plaintiff relationship in any way. AFP only gets paid when the case finally settles for the pre-determined percentage of the final judgement paid. It’s that simple.
If this sounds like something your firm can benefit from, you are certainly not alone. At JurisLead, we aim to help our attorney clients grow their practice—not only by helping secure new clients but also through our valued partnerships.
For more information on Appeals Funding Parters, contact JurisLead.