What is Legal Fee Financing?
Many companies offer funding programs to lawyers and/or their clients. Sadly, most of these programs are designed to take advantage of desperation by the lawyer, the client, or both. As such, they are poor choices for many reasons, including causing lawyers to cross or at least push the boundaries of applicable rules of professional conduct.
GLF's program is unique and straightforward. We do not advance money to either the attorney or the client. Rather, we have created an automated credit service that not only assists people with obtaining access to justice, but also helps attorneys build their client base and get paid for their services. We process each credit application the same as a bank would - analyzing the likelihood of payment. We check credit history and report to the credit bureaus. We often require co-signers. We automate the process to reduce costs and increase efficiency. Finally, and importantly, we remove the lawyer from the role of creditor/collector.
GLF DOES NOT directly fund litigation expenses.
GLF DOES NOT buy structured settlements.
GLF DOES NOT loan clients money for legal fees at exorbitant rates.
GLF DOES NOT make indirect loans to clients for legal fees, and sharply discount the funding of the loan to the lawyer, which creates an exorbitant interest rate for the lawyer.
GLF DOES provide a service that allows almost anyone access to justice, and that assists lawyers in creating and building successful practices so long as they are willing to accept payments over time.
GLF DOES help build enduring relationships between lawyer and client, which is the best marketing method available.