The Legal Financing Industry

A fairly new industry that is cropped up in the United States is the legal financing industry. It has become an industry mainstay during the last two decades. In the beginning, the legal financing industry was primarily unregulated. This situation, unfortunately, caused some companies to take advantage, and as a result, there were quite a few people in the legal field who had serious doubts about the true benefits that the legal financing industry promoted. The good news, however, is that recently there have been more safeguards and regulations added to this industry. The safeguards and regulations have been put in place to provide extra protection for any client of the legal financing companies.

In 2004, the American Legal Financing Association was introduced and established. The Association’s mandate was to maintain and provide high ethical standards and business practices that were fair for all legal financing procedures. It was not mandatory to have membership in this Association, but there was a total of 31 companies that became members. The Association always has and will continue to represent the members of any legal financing company so that any information about the industry is accurately disseminated. The Association will also try to guarantee that the legal financing industry performs all of the needs for any parties that are involved or for any parties that are interested.

In a nutshell, the legal financing industry will offer non-recourse types of legal financing to any litigant. The financing can be either funded from an individual lawyers finances or from somewhere outside of the firm. These funds are then processed through a third-party company. The various financings are often used for worker’s compensation, civil rights, or personal injuries.

The legal financing industry will provide a litigant with an upfront lump sum of cash in exchange for a portion of the litigants future trial award or settlement. Some legal trial cases can take a long time before they conclude and therefore this upfront cash can help to alleviate the litigant’s financial burdens. Some of these burdens may include things such as educational bills, legal fees, daily expenses, mortgage payments, rent, medicals bills, and so forth.

Many companies which provide legal funding have a goal to help their clients see how beneficial legal financing can be. As mentioned previously, legal financing is very advantageous for both personal injury lawyers and personal injury victims. From its beginning, legal financing has had its fair share of skeptics, but as time goes on, there are more and more professionals in the legal community who are realizing how prevalent this type of financing can be.

If you are about to deal with a legal financing company, it is important to choose one that has a good reputation and that has been in business for a long period. Most legal financing companies do not require the litigant to have a credit check or current employment. Their only criteria for funding is for the litigant to have a pending, bona fide lawsuit and financial need that is serious. Since this type of funding is based on a non-recourse format, it is important to note that if the litigant loses their case then they will not have any obligation to pay back the financing.

Litigants will be happy to know that it is easy to apply for this type of financial assistance. You can either call the company or fill out an application online. If the company approves your application, then you will likely have your funds released in as little as 24 hours. The process is simple and easy to understand.

One legal financing company that has an online service will provide funds for people thr oughout the United States. They claim to have adequate funds on hand so that you can receive them promptly when needed. They also claim to have the lowest rates of other loan service providers. The company has a reputation for providing financial assistance to companies, individuals, and attorneys who have used up all of their resources as they wait for a fair settlement. Their company motto is to provide relief to litigants who are finding it extremely difficult to maintain their day-to-day expenses.

Family Law Australia

Going through a divorce can be painful and confusing, especially if you have children. Breaking up your family is hard and it is a big decision. You will need the help of the family court to set up a legal agreement as to what is going to happen once the divorce comes through.

You are going to have to reach an agreement with your spouse as to where the kids are going to live and how much time they are going to be spending with each of their parents. You will even need to figure out how the arrangements are going to be made and how the kids are going to get the financial support that they need. Then you need to split up your assets. You will need a experienced local Tweed Heads, NSW family or divorce lawyer to help you through this process as it is very law australia

Each parent has full responsibility for their children until they are 18, even if they are getting divorced. You have to make arrangements right away to work out what you are going to do with the kids until they turn 18. You have to think carefully about how you want to do this as well because once you reach a legal agreement it is going to be very hard to change.

One of the biggest hurdles is figuring out where your kids are going to live, especially if both parents want full custody. You have to figure out a way to share and this can lead to lots of fighting and anger. The process is also very hard for your kids, so you want to try to keep everything as normal as you can for them.

The process can be even harder if you are deciding to sell your family home as part of the divorce. Children don’t like change and the combination of the divorce and having to sell the home is going to be very hard on them. If the kids can stay in their home, things can be much easier. Each parent is going to have to divulge their assets and if the divorce is contentious, you have to hire a lawyer to make sure that one of the spouses is not trying to hide their assets.

You also have to figure out what the spousal support is going to be and you have to determine the amount of child support you are going to need. You need a lawyer to help you determine what all these costs are going to be. Basically, the courts are going to rule for whatever is going to be in the best interest of your children. Even if you are feeling a lot of anger towards your spouse, you want to put your children first and do whatever is going to be in their best interests.

When you are getting divorced, you need a lawyer to help you through these complicated issues. Working out custody agreements and child support payments can be a complicated process.

Our author today is Geoff Gallagher a Tweed Heads family lawyer.

Information on property conveyancing here.

Equipment Finance, or Regular Loans?

When it comes to applying for a loan, most businesses will go for the traditional option and approach banks without giving much thought to the types of lenders that specialise in providing equipment finance services. Although similar in nature (with one party providing money and the other receiving it, before paying back what’s owed over time), the fact is that both options are different, so choosing the right one can make a lot of difference to the way in which a company is able to benefit.

Here’s a closer look at the key differences between the two options.


Annual percentage rates, or APR as the term is commonly abbreviated, are a form of interest that is applied on top of monthly repayments. Where mortgages rely on regular interest rates, regular loans use APR to calculate what a borrower can expect to repay. Finance agreements differ in the sense that they use monthly rates, as opposed to APR.

The former can be far more beneficial to a company, as it will be possible to compare these terms with other lenders and choose the cheapest one. For smaller repayments (those of a lesser duration), the lower rates can help a company to save anywhere between a few hundred dollars and several thousand a year.

Tailored Policies

Traditional loans typically have one thing in common, and that’s what they will often have a set of policies that they will adhere to. Although some loan officers will be willing to modify their terms to suit particular circumstances, in the majority of instances a borrower will be expected to adhere to the policies, exactly as they are dictated by the bank.

Adversely, finance agreements can be tailored almost from the ground up; especially when using a financial expert to help with the negotiation of terms and conditions. Most lenders will be willing to treat every application in a unique manner and this can make it especially beneficial when a business wants to borrow a specific amount, repay a certain quantity by a particular time, or undertake any other individualistic policies.

Flexible Repayments

One of the biggest drawbacks of regular loan services is that they often feature fixed repayment schedules. If a borrower can’t meet them, then they will have to prepare for action on behalf of the lending agency. As you can imagine, this really wouldn’t be a comfortable position to find yourself in. Although some lending agencies might be willing to stretch their expectations slightly, the majority will be very firm in their demands.

On the other hand, those that specialise in financial services will typically be far more lenient and willing to extend their schedules and deadlines to benefit the borrower. It’s not unheard of for payments to be made over the course of a decade; sometimes even longer. In fact, as many lenders extend hundreds of thousands of dollars to businesses that need to purchase large machinery or expensive vehicles – it’s only logical that these types of services will tailor their terms to better suit lengthier repayment times.

When choosing the right type of service for your needs, be sure to weigh up all of your options. Hiring an advisor can go a long way and we’d certainly recommend doing so before agreeing to any terms dictated by a lender.