Attorney problem in getting a cash advance
I have hired an attorney in Seattle, Washington to handle my personal injury case. On Friday I asked my attorney if he knew of any good places to sign up for a lawsuit cash advance. He told me he never dealt with legal financing companies and he would need to talk to someone regarding how the money is paid out after we win our case. I think he is probably worried that a lawsuit cash advance company would get their money before my attorney would be compensated for his hard work. I didn’t ask him about it because I was uncomfortable. Can you let me know how a cash advance is paid back?
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If you decide to secure a lawsuit cash advance with one of our lenders at the time you win your case, your attorney would receive payment before our lenders receive their payment. The agreement you sign with your attorney will allow him to get paid even before you repay the loan back to our lenders.
I am a personal injury attorney practicing in Draper, Utah, and we regularly do these advances when our clients request them. Many attorneys shy away from getting involved in these advances. I think that it is a client’s personal decision if they want to do this. I always tell them to get only the minimum they need to get by on.
In terms of payout when there is a settlement, the attorney fee always comes right off the top. Those that have liens against the settlement, such as a lawsuit cash advance company, get paid next, along with medical providers.
Hope this helps,
Ron Kramer
Utah
Ron thank you for your comment as you probably understand what I’m going through right now. My attorney kind of pushed back against the suggestion of getting a lawsuit cash advance. I’m really hoping that it will make a difference when I let him know his share is not in jeopardy. Thanks lawleaf and thanks ron for both answers.