The Litigation Counsellor®

When it comes to financing your firm, you have a lot of options. You can self-finance, partner with co-counsel, utilize credit cards or take out a business loan—just to name a few.

Before you make a selection, you should have a clear understanding of the solutions available to you. Without a full appreciation of your choices, how will you know you’ve picked the right one? This means looking not only at traditional financing options, but also those specifically tailored to a plaintiffs’ practice. 

You have a business plan in place and your law firm is poised for growth. The case files already on the shelf require not only an investment of time but of dollars. You need to find both time and money to bring more cases through the door. Yet, like many plaintiffs’ firms, your monthly cash flow is uncertain and subject to significant fluctuations.

While banks and other traditional lending institutions generally only allow you to pledge your personal assets to secure a loan, the Supreme Court of New Jersey recently held that you can also obtain financing using your anticipated attorney’s fees as collateral.

The decision, which follows similar holdings in other jurisdictions, affirms that you have an enhanced pool of resources you can leverage to get increased funding for your law practice—your future legal fees.

Counsel Financial provides working capital credit lines up to $5 million exclusively for the plaintiffs' bar in all states except California, where credit lines are issued by California Attorney Lending. Explore all of our financial solutions designed for contingent fee practice.

By Earl Boyle, Esq.