In the realm of legal funding, transparency is often elusive, leaving clients uncertain about their financial decisions. However, Covered Bridge Capital stands out for its commitment to unparalleled transparency, offering invaluable guidance to clients navigating the complexities of legal financing. Here are five essential tips they offer, shedding light on the process and empowering clients to make informed choices:
- **Explore All Financial Options**: Covered Bridge Capital advises clients to exhaust all alternatives before considering legal funding, including borrowing from family and friends. By thoroughly exploring options, clients can make the most financially sound decision for their situation.
- **Consider the Costs**: Clients are encouraged to be wary of the potentially high costs associated with legal funding. Borrowing against a case can be expensive, and clients should ensure they genuinely need the funds before proceeding. Moreover, having a clear plan for utilizing the borrowed funds is essential to avoid unnecessary expenses.
- **Timing Matters**: Understanding the correlation between case duration and repayment is crucial. Covered Bridge Capital emphasizes the importance of avoiding premature borrowing, as prolonged cases can significantly increase the amount owed to the funding company. Timing, therefore, plays a pivotal role in minimizing financial obligations.
- **Ethical Obligations**: Clients are reminded of their attorney’s ethical obligation to honor agreements with funding companies. Once a funding arrangement is made, clients cannot request their attorney to disregard the funding company’s lien. This transparency ensures clients understand the legal ramifications of their decisions fully.
- **Funding Determination**: Covered Bridge Capital clarifies that the decision on the amount of funding rests solely with the funding company, not the attorney. Clients should be aware that their attorney’s role is to provide legal counsel, not to influence funding decisions. This transparency fosters a clear understanding of the process and promotes informed decision-making.
In conclusion, Covered Bridge Capital’s unwavering commitment to transparency sets a gold standard in the legal funding industry. By providing clients with comprehensive guidance and insight into the intricacies of legal financing, they empower individuals to make informed choices that align with their financial well-being. As they rightly assert, an educated client is indeed an informed consumer, equipped to navigate the complexities of legal funding with confidence and clarity.
To read more, check out Covered Bridge Capitals’ eBook –“8 Things You Should Know Before Signing The Next Funding Agreement.” 8 Things You Should Know Before Signing the Next Funding Ag… (flippingbook.com)