PRZOOM - /newswire/ -
Chicago, IL, United States, 2005/06/30 - LegalFish, the premium online attorney/client matching service, announces its entrance into the litigation financing market with the introduction of its LifeLine Funding Program.
The purpose of this program will provide access to non-recourse loans that can help plaintiffs in litigation meet ongoing expenses as they await their trial date, and allow their attorney time to work toward a larger settlement. The term “non-recourse” means that if a plaintiff loses his/her case, they there is no obligation to repay the advance.
"A plaintiff’s lawsuit may have two different values. Early on, the defendant will offer less than full value to quickly settle the case against them. And as often, the plaintiff is forced to accept a settlement less than the fair value because he or she cannot afford to wait years to receive a case decision and possibly a larger cash award. LegalFish, through its network of lending partners, bridges this problem by providing access to a cash advance, so that the plaintiff can wait out the defendant and secure a fair and just settlement,“ said Anish Shah, Managing Director.
The LifeLine Funding Program will also be accessible to interested law firms seeking a non-recourse loan to help them finance their litigation expenses on a selected portfolio of cases.
"After working with many attorneys, it became apparent that small-to-midsized firms and solo practitioners often required additional funding to finance their litigation expenses on select cases. Our goal is to provide lawyers an advantage over traditional lending sources with a risk-free service." added Shah.
Some of the most common case types that LegalFish can provide access to funding for include personal injury, workmen’s compensation, product liability, class action and mass tort, commercial, medical/legal malpractice, structured settlements, and pharmaceutical litigation.
Established in 2002, with a formal site-launch in 2003, LegalFish is a leading nationwide provider of online attorney/client matching services. Corporate offices are located in Chicago and San Francisco.