Once you contact us an advisor will complete a quick online application to understand your requirements. If your case meets the criteria for funding we will then request signed application forms and supporting documentation.
Once all required completed and received we then submit the case to our funding panel. They will then carry out a detailed analysis of the case and requirements and look to speak directly with the claimants and legal teams involved.
After the funder has completed their due diligence process they will then make a decision on the case.
Once you contact us we will provide an initial review of the case to ensure it meets the criteria for funding. If accepted we will then request a completed application form and supporting documentation in order to verify the claim. Once all information is completed we then present the case to our funding companies.
At this point the funders will look to carry out a detailed review of the case and will look to speak with the legal team and claimants directly. Once a funder has completed their due diligence they will then make a decision. The process for funding can take a number of weeks or months depending on the type of case, complexity, requirements, supporting documentation and co-operation of all parties concerned.
Whilst we have no control over the review procedures of our funding companies we will always look to have our clients applications progressed as quickly as possible.
Funding can be offered on an interest only basis or on a hybrid funding model which includes interest and a percentage of damages. Terms will vary depend on on the type of case, its complexity, the requirements and additional factors. Terms will only be provided b our funding partners once a full analysis on the case and requirements is complete.
Our funding partners offer non-recourse funding solutions to cover a wide variety of claims including Personal Injury, IP Infringement, Professional Negligence, Copyright Claims, Medical Negligence, Class Actions, Product Liability, Medical Negligence and Breach of Contract to name just a few. To find out if our solutions are suitable for you please contact us for a free review.
The funding is offered on an unsecured basis so the funding partners will require an undertaking from your attorney acknowledging that the funding and charges will be repaid once the claim settles and funds are received.
Our funding partners are required by the FCA to complete an assessment of the clients financial circumstances. This is to ensure they are not insolvent and have the right to pursue a claim. All information will then be reviewed by the funding team with the claim itself being the key factor in the approval stage.
If a client decides to use an alternative attorney the funders will require an undertaking from the new attorneys. If the new attorneys are unwilling to facilitate this then the original agreement will be in breach of contract and all funding and interest will become payable immediately.
Claims Funding are a specialist company that provide broker services for Litigation Funding and ATE Insurance for the US market. Our solutions are designed to strengthen claims, provide financial assistance to claimants and ensure they have adequate insurance cover in place to protect them in the event of unsuccessful litigation. To find out more please contact us for a free no obligation review.
Non-recourse is another term for no win no fee. This means that if your claim is unsuccessful for whatever reason you will not have to repay the funds that are advanced or the relevant interest charges.
Funding can be used to cover attorney fees, legal disbursements, medical, personal, business and living expenses. Our solutions are designed to strengthen claims and ensure claimants have adequate finances to ensure their quality of life doesn't suffer during the claims process.
Our funding solutions are offered on an interest only basis or hybrid funding models which include interest an a percentage of damages. The rates are set by the funders once they have assessed the claim and it's requirements in detail.
No. The funding is only repaid once your claim has settled and compensation has been received. There are no monthly repayments required and there is no financial incentive for repaying the funding early instead of when the claim settles. This is a unique selling point of our service.
There are no ATE Insurance requirements for non-recourse loans. If you require litigation funding for legal fees and disbursements it can be a requirement of the funding company. If pursuing litigation we would always encourage clients to speak with their legal teams in relation to ATE insurance which provides cover in the event of unsuccessful litigation.
Once you contact us we will complete a quick telephone application to review your requirements. Your enquiry is then transferred to a funding specialist for evaluation purposes. At this point information on your claim will be requested from your solicitor in order to fully review your case. Once this is complete a decision is made on your application.
Once all documents have been received from your solicitor a decision on your application is usually made within 48 hours. At this point you will be required to sign a loan application form along with a letter of authority which you will need to forward to your solicitors.
The funding process can take weeks or months depending on the type of case, complexity, requirements, availability of supporting documentation and co-operation of all parties concerned. Whilst we have no control over a funders due diligence process we will always try to progress our clients applications as quickly as possible.
The funding partners are required by the FCA to complete a credit check on all applications. This is required to verify that you are not insolvent and that you have the right to bring a claim forward. Once this information the funding executive will contact you directly to review your circumstances in detail. A decision will then be made on your case with your claim being the major decision in the approval process.
There is no requirement to get independent legal advice but it is advisable if you so wish. Our services are simple and straight forward and all documentation provided by the funders will clearly list all terms, conditions and requirements which we recommend you review with your legal advisors.
The funding is only repaid once the claim is concluded. In special circumstances however the repayment of the funding and interest charges can be demanded immediately if you act in any way which might undermine the good faith of this relationship. An example of this would be disengaging with your attorney and/or failing to assist your attorney with the progression of your case.
If you have good reason to disengage with your attorney, you may instruct a new law firm. On this basis a new letter of authority will be required from your new attorneys as per the funding terms of service. If your new attorneys are unwilling to give an authority on your case you will be in breach of contract and full repayment of the loan and interest will become repayable tot the funders.
If for no good reason you decide to discontinue proceedings the funding plus interest will be repayable by you. If, however you are advised during the course of the litigation that a successful outcome is unlikely you may be advised that the best option is to continue only on the basis that each party bears their own costs. In circumstances like this the funding and interest charges will be written off.
There is no legal requirement to inform the third party once funding has been secured. Your attorney may wish to include the costs associated with this funding in your claim however to try and recover the interest charges from the third party as part of your claims for damages.
The courts may decide to include the costs associated with the interest on your funding as part of your claim for damages. In circumstances like this the third party could be liable to pay the interest charges.
Repayment of the funding and interest is only required if the event your claim is successful and your attorneys have received the settlement funds. There are no monthly repayments or completion dates attached to the funding.