09/17/2021

5 Top Legal Funding Myths

Written by: Best Call Funding

Debunking Untruths About Pre-Settlement Legal Funding

Legal funding continues to gain steam across the country. The industry has helped to provide financial assistance for plaintiffs and attorneys as they wait for a settlement to be reached in their case. Since its inception, there have been a number of myths floating around about legal funding. Unfortunately, these myths have prevented some from getting the money they desperately need.

At Best Call Funding, we provide pre-settlement legal funding for attorneys and their clients while they wait for their cases to be resolved. We fund almost immediately once an agreement is signed. If you are waiting on a settlement, but need money now, contact Best Call Funding at (888) 970-4207 to apply now.

1. Legal Funding Is a Loan.

One of the biggest misconceptions about legal funding is that it is a loan. Pre-settlement legal funding is a cash advance on the settlement or verdict that you receive. The money is given without recourse, meaning that you pay nothing if you lose your case. 

Unlike a loan, there are no prepayment penalties, hidden fees, or other costs associated with legal funding. The money is only repaid if money is recovered on your behalf. All of our agreements are transparent, with clear terms and conditions.

2. Legal Funding Will Affect the Outcome of Your Case.

Contrary to popular belief, legal funding will not impact the outcome of your case. Legally third-party funders cannot affect the outcome of your case. They cannot attempt to influence your attorney or you to accept a settlement. 

Financing is provided based on the merits of your case and whether it will be successful in litigation. A legal funder absorbs the risk upfront. Legal funders have no control over the litigation process and have no connection to the parties outside of the funding provided.

3. Legal Funding Is Not Regulated.

Many people assume that legal funding is not regulated. The truth is that legal funding is self-regulated by organizations and trade associations.

Legal funding is also subject to regulations imposed by state bar associations and consumer protection agencies, as well as ethics opinions issued by different legal organizations.

4. Legal Funding Requires a Credit Check.

Legal funding, unlike a traditional loan, does not require a credit or employment check. Financing is provided on the merits of the case, not on whether you have sufficient funds to repay the loan. With legal funding, you will not have to provide documents to verify income or other hurdles that would typically prevent you from receiving funds.  

5. Legal Funding is Illegal.

Legal funding is 100% legal and available in most jurisdictions.  The legal funding industry continues to grow and has helped countless individuals overcome the financial hardship generally associated with an accident causing injury or death.

Apply for Legal Funding Now!

Explore your funding options with Best Call Funding today. Legal funding provides a critical financial resource for attorneys and their clients. Contact our office at (888) 970-4207 to determine your eligibility or apply online now. You pay nothing unless you win. 

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