Become an Associate Member of
Since 2013, Legal Cost Finance has helped thousands of clients to get access to justice through affordable and ‘cost-neutral’ payment plans, specifically designed to cover legal costs.
In turn, Legal Cost Finance has helped hundreds of lawyers to minimise ‘aged debt’ and the worry of when, and indeed if, legal fees will be paid. Payment plans from Legal Cost Finance pertain to all sorts of legal matters, both contentious and non-contentious; and cover all cost-types (such as court, solicitor and witness fees).
With Legal Cost Finance, clients don’t have to pay their lawyer anything up front – Legal Cost Finance can do that on the client’s behalf. This satisfies the lawyer’s concerns about not getting paid – and enables a legal matter to commence without delay.
Legal Cost Finance then offers clients the convenience of an affordable payment plan to repay their legal fees. So, clients can enjoy the advantage of paying their legal costs by instalments over a suitable time period.
This gives clients greater access to justice at an affordable price, and can provide an essential edge over the client’s opponent or commercial competitor in a legal matter.
A very attractive alternative to other financing options.
Legal Cost Finance is unique – there are no other brokers or finance companies that offer the same ‘straight lending’ (payment plan) solutions for legal costs.
Whilst there are other finance options available, not one is as reliable and convenient to clients and law firms alike.
For example, there are ‘hybrid financiers’, who work by distributing a pool of pre-borrowed funds (from a bank) to lawyers, who in turn distribute them to clients with worthy (meritorious) cases. Clients are invariably asked to provide loan security (real estate, car etc.), unless the lawyer believes that the case has a very high chance of success. However, if the client defaults on the loan, then the lawyer bears the risk.
On the other hand, Legal Cost Finance differs as it doesn’t borrow money from a bank. It merely acts as a consumer credit broker, and introduces clients directly to a bank or private lender who offer clients an unsecured credit facility. Secured lending is also available for funds of over £25k, but the security is taken directly by the lender (not by the lawyer or by Legal Cost Finance). Therefore, if a Legal Cost Finance client defaults on their repayments, the lawyer is not liable in any way to the lender. That is, the credit agreement is always between the lender and the client.
Another option is litigation funding, whereby the funder effectively invests into legal cases by covering the legal costs in return for a chunky slice of the award. These companies compete to find the most lucrative cases to invest into – usually the cases with the highest potential awards are the ones that get funded, which accounts for about 8% of the total litigation funding applications each year. The remaining 92% of clients with contentious cases are left without funding. However, with Legal Cost Finance, an alternative – and highly attractive financing solution – is available.
With three payment plans to choose from, each with different features and benefits, we have a solution for every client…
Our consumer marketing campaigns are busily creating high consumer awareness and understanding that payment plan solutions exist for legal costs. Many people are now empowered to pursue a legal matter they had previously put aside.
The first question nearly every consumer asks us is: “Which lawyers offer your payment plans?”
So if you are still undecided as to whether Legal Cost Finance will be of interest to your clients, we urge you to come on board as an Associate Member of Legal Cost Finance.
Doing so will:
- Enable you to attract new clients and secure payment easily;
- Guarantee your fees are always paid in-full and on-time;
- Confine ‘past due’ notices to history.
It is the simple solutions that are often the best, and Legal Cost Finance is that rare case of win-win all round.
We will provide you with free marketing collateral, co-branded with your logo if you wish, so you can let your clients know you support and accept payment plans. From marketing flyers, window stickers, a digital frame for your reception desk and a pop-up stand, we can provide what’s right for your practice.
To promote and offer Legal Cost Finance payment plans to your clients, please register your interest here and we will be in touch shortly to welcome you on board.