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Labor law legal funding: Use it for cost of fighting for your rights
Many people think that fighting to recover lost wages, unpaid overtime, or other employee entitlements won’t cost them anything out of pocket, but this isn’t the case.
In addition to paying an attorney out of pocket to fight your case, you will also pay court filing fees and possibly even travel expenses if you need to be present at hearings or meetings.
When you add up all of these hidden costs, you may find that pursuing your rights in court ends up costing much more than you imagined it would.
Labor law legal funding can be vital in winning your case, but it’s often overlooked by workers who simply can’t afford legal fees.
Know what’s at stake when you fight your boss
If you’re not careful, these can drain away your savings. A recent case study from an Illinois judge shows that litigation is expensive.
The average trial—and that’s just one element in many cases—costs around $1 million.
There are also attorney fees to consider, not to mention court costs and other out-of-pocket expenses like expert witnesses.
Calculate the value of potentially lost wages
If you are looking at a long, drawn-out legal battle to settle a labor dispute or wrongful termination, taking stock of how much you stand to lose by taking on that fight is important.
You don’t want to be in a position where you can no longer pay your bills or where you go into debt because losing your job caused a change in finances.
Talk with an attorney about what you might expect if things go south; sometimes, one side is willing to provide additional money to settle out of court and avoid taking their case all the way through trial.
This can help streamline (and cheapen) lengthy trials and appeals.
You may need a loan even if you don’t get a settlement or judgment
The average plaintiff in a civil suit receives $3,500.
If you’re going up against a large corporation, especially if you’re representing yourself or if you don’t have an attorney, it’s possible that you will receive nothing—or little—if you win.
Because many companies are judgment proof, they can weather even high awards without missing a beat.
And even if a company does have deep pockets and appears to be financially secure, it doesn’t mean they’ll pay what they owe.
Your best bet may be to borrow money to pay for expenses and fees up front.
Legal funding can help with non-lawyer costs too.
Law firms and paralegals often charge exorbitant hourly rates, but an attorney’s time is not always needed.
Many legal issues can be handled by lower-priced non-lawyer staff.
Labor lawyers frequently need expert testimony from labor economists or doctors to analyze a case.
You may also want to hire an economist if you’re trying to decide whether or not to pursue litigation in a personal injury case—which can cut down on expensive trial costs later on.
It’s worth getting a second opinion if you think you have a good chance at winning; paying another few thousand dollars up front could save you thousands more over time.
Make sure you’re approved for legal funding.
The first thing you need to know about applying for an FLSA suit is that any standard lending institution won’t approve it.
All of these lawsuits have one thing in common: they’re expensive.
If you can find an attorney who is willing to work on a contingency basis, chances are very good that you’ll eventually get paid back—with interest.
But you can still end up paying thousands (sometimes tens of thousands) of dollars upfront just to have access to what is legally yours.
You also have to keep in mind that federal labor laws don’t cover most American workers, and even if they are, some states (like California) are more employee-friendly than others.
Don’t let a lack of funds stop you from seeking justice
If you’re an employee who feels your employer has not paid or provided the benefits you’re owed by law, you may be considering legal action to recoup these losses and hold them accountable.
Depending on your state, this process could cost anywhere from $200 to $50,000 to win your case—and that’s just the filing fee!
While winning will result in compensation and justice, losing could mean paying thousands in legal fees and having a judgment against you on your record that may negatively impact your chances of obtaining credit or getting hired elsewhere.
Apply with us today and Secure the Funding You Need to Fight for Your Rights with Labor Law Legal Funding.