Some companies choose to hide their fees until you are approved and are unlikely to want to go through the process again so you accept their extremely high fees. We tell you our fees upfront before you even apply.
Conservative financial companies, including banks, do not generally lend against a lawsuit. It is our experience that they think the business is too risky and choose only to lend against tangible assets.
The American Bar Association does not allow attorneys to lend cash to clients for anything but case expenses. This prohibition was established to prevent a conflict of interest from arising. If you owed your attorney money you might feel obligated to accept your attorney’s advice to settle your case when you really did not want to accept the amount offered.
Glofin will invest in many different types of cases including: Personal Injury Vehicle, Personal Injury Premises, Personal Injury Assault, Workers Compensation, Wrongful Death, Medical Malpractice, Sexual Harassment and FELA and Jones Act.
Glofin does not place limitations on use of proceeds; we look more favorably upon those cases where the proceeds are used to pay bills or case expenses such as expert witnesses, economists or case enhancing costs.
This of course, varies from state to state but GLOBAL is not aware of any ethics opinions which prohibit attorneys from signing a pre-settlement funding lien. In most cases we issue a Letter of Instructions from the client to the attorney instructing the attorney to place a lien in the file.
We advance money by purchasing a portion of the anticipated settlement. We do not loan you money. We advance money now in return for a portion of your potential proceeds, whenever that may be. Just like yourself and your attorney, we take the risk of a successful resolution. If the case is lost, we lose our money.
No. The percentage of the cases we invest into is not affected in any way by the time it takes for a case to settle. Whether you settle in 2 months or obtain a verdict in 5 years, their is no financial obligation until resolution of the case.
No. Because we take the risk of settlement together with the claimant and attorney, courts have continuously ruled that our advance is not a loan. Therefore, our advancements and fees are not subject to usury laws.