We'd been hyping up Adam's speech for the past few weeks, and last night he finally got his chance to speak at Mandelbaum. For those of you who weren't able to make it or are just hearing about it now, I've got you covered. Here's a quick run-down of the main points Adam covered. (Naturally it won't be nearly as entertaining as listening to him speak, but it's the next best thing!)
The Origins of Pre-Settlement Funding
Pre-Settlement Funding began in the early 90's as a way to allow plaintiffs the financial wherewithal to see a case through. It was specifically designed not to be a loan, since loans need to be paid back and that wouldn't be fair if the person taking out a funding plan lost his case. Instead, funds were treated as advances that get paid back if the case is won or settled.
Evolution of the Industry
As time went on and the industry began to grow, some seedy companies began trying to exploit people. As a response, organizations like ALFA (American Legal Finance Association) were formed. They created a list of standards that companies should adhere to, such as a clear disclosure of rates, no excess funding, no false advertising and no commissions from attorneys for referring clients. All of these standards were put in place to ensure that the people using Pre-Settlement Funding services weren't taken advantage of.
When does it make sense to get an advance?
There are a lot of factors to consider when thinking about taking on a funding plan. Most importantly, we want to make sure clients are able to survive the duration of their case. Some of these cases are the result of harrowing accidents, so clients need to be able to pay their bills, put food on the table and cover any medical expenses as a result of their injuries. There's also the qualify of the client's life to consider. If they aren't able to work for a few months, what do they have to sacrifice to pursue this case? With a good funding plan, they won't need to sacrifice anything.
Pre-Settlement Funding was built for you
This industry has been around for decades, and what started as a concept to get plaintiffs more money has turned into a highly sophisticated funding strategy that's focused on benefiting you as much as possible. At Simia, we're proud to work with any plaintiff, regardless of their situation or the current case they're facing. We'll stand beside you no matter how long it takes to ensure you get justice.
At Simia, we really do have your back
We're not kidding when we say we want to help you. We're here for you now and ready to get to work! All we need from you is a quick phone call, e-mail or short application so that we know you're out there. You can submit a quick application right now, give us a call at (866) 587-4320, or send an e-mail to email@example.com. We want to help you, so let us know about your situation.