New Jersey Attorney Funding
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Attorney Funding in New Jersey: Risk-Free Loans For Law Firms
When you’re in the middle of an important case, it can be difficult to think about how to pay your bills and other expenses while you’re tied up in court all day.
Attorney funding in New Jersey will help ensure that you have the resources you need when needed, helping your case move forward as smoothly as possible.
Here are just some of the things you should know about this financial assistance solution so that you can make an informed decision about whether or not attorney funding is right for your needs.
What is Attorney Funding?
Attorney funding is when someone provides money to an attorney or law firm, usually because they’re expecting repayment.
It is a good way to ensure that you have money coming in; while working on a big case.
Why Law Firm Needs Money?
Law firms that are running on tight budgets sometimes run into trouble paying for unexpected expenses and covering long periods between paying clients.
Here’s a tip, if you don’t have adequate cash flow, it can have far-reaching effects on your business.
First, you might find yourself missing payrolls or delaying key projects. In addition, you’ll likely end up with more unpaid invoices than expected.
All of these situations can lead to huge financial problems later down the road.
That’s why many law firms use attorney funding New Jersey as an option for staying afloat during tough times.
An advance from a lawyer funding company is essentially working capital to cover your costs until you get paid by a client or win a settlement—no credit checks needed!
Benefits Of Taking NJ Attorney Financing
When a client hires an attorney, either for a trial or for ongoing legal help, there is always some financial risk for that attorney.
Even if you get paid after winning your case or successfully negotiating a settlement, your immediate cost can be substantial.
That’s why many law firms turn to third-party funding options when they need help with paying their operating expenses, including things like paying staff and meeting office lease payments.
If your firm has been considering taking on any type of outside funding, connect with us for law firm loans.
How Law Firm Loans Works?
Think of these as more traditional lines of credit, but ones that can be used for living expenses and business expenses alike.
If you’re working on a big case or your firm is taking on a major new client, you may be able to secure additional funding through a law firm loan.
As with all lines of credit, some firms allow you to borrow based on what they consider your score.
That is, if you have good credit, it will be easier for you to secure funding than if your score isn’t so great.
New Jersey Personal Injury Claims
Personal injury cases are often complex and involve an expensive, drawn-out legal process.
This is especially true for injury claims involving wrongful death or serious trauma injuries.
When you need medical care and other services like housekeeping, a social worker may be hired by your attorney to assist with your case.
While many people who suffer serious injuries are entitled to compensation—the quality of your outcome is dependent on which attorney you choose and how they build your case.
Many personal injury attorneys will accept third-party funding to reduce risk on both sides, allowing them to focus more attention on you and giving you access to resources that could make a difference in how successful you are at obtaining justice for yourself and your loved ones.
Cases We Fund
Choose ECO For New Jersey Attorney Funding
ECO has been providing attorneys with pre-settlement funding services for decades.
By working with our business partners, ECO can help you secure funding for your case upfront.
This will free up your time and money so that you can focus on settling your client’s case as quickly as possible.
We are a leading online legal financing company specializing in personal injury funding, medical funding, mortgage loan modifications, and other litigation expenses.
With us by your side, you don’t have to worry about falling behind while you wait for settlement checks or fight with a lender who refuses to work with you on a loan modification.
Simply call us at (800) 961-8924, and we will do everything possible to help fund your case today!