Tag Archives: LegalFunding

Is Legal Funding A Loan?

Legal funding has become a major part of the civil legal affairs over the past few decades. The newness of it has actually left many people scratching their heads and wondering what exactly the service is, which has led to misconceptions. Considering that Beacon Legal Funding is the provider of such a service, we wanted to provide you with a straightforward explanation to clear up any confusion. What Does Legal Funding Do? The point of legal funding is to help plaintiffs by providing them with stable financial support during a civil lawsuit. Personal injury and workers’ compensation cases can last a long time, and many injured victims can’t work while their case is unresolved. This financial stress can make it hard to pay medical bills, rent, mortgage, or even lawyers’ fees, but the settlement advances offered by legal funders like Beacon can help ease these burden. Is Legal Funding A…
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Law Professor: Lack of Business Sense Dooms Many Firms

A law professor returned to the San Francisco area where he had once practiced law 20 years earlier. He was shocked to find that only one-third of all the law firms he had known were still around, and he couldn’t help but wonder why. The dot-com boom and bust had happened during his 20 year absence, so the public wasn’t too surprised by the sinking law firms, but many of the firms that went down were the biggest and most skilled. That fact was highly disturbing for anybody who actually worked as a lawyer in San Francisco at the time. So what happened? Debt, profit share disputes, unnecessary geographic expansion, and unsustainable employment promises usually brought down these titans of the legal industry. This actually proved the professor’s theory that what really brought these firms down was not bad lawyering, but a lack of business know-how. “The busted law firms…
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Need Cash But Wish to Avoid Blanket UCC Liens?

Consider a Cash Advance for Your Personal Injury Law Firm It takes money to make money, but obtaining funds to increase business and be profitable comes with a host of risks and restrictions. If you are a personal injury attorney considering taking out a loan to cover various office expenses and advertising, consider the effects that a blanket UCC lien might have on your firm. What is a Blanket UCC Lien? When you apply for a business loan, such as a SBA loan, a lien may be placed against your firm. (Some banks place a lien on your business just for applying – sometimes hidden in the fine print!) A lien essentially claims that certain assets of your firm belong to the bank providing the loan, and the lien will be in effect until you pay the loan back in full. Liens are very advantageous for lenders—not so much for…
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