Disbursements, Outlays & Legal Fees Funded.
Same-day funds transfer, no credit application.
Types of Funding
Disbursement Funding - Deferred Payment
Looking to start a firm? Purchasing files to grow your practice? Is carrying outlays weighing the firm down?
If your client's case requires money to be spent upfront, why not defer payment until the case is settled/finalised. Neither your business nor the client need to be out-of-pocket for months, waiting for the case to progress.
- No establishment fees
- No admin fees
- No credit checks required
- No assets required
- Same-day EFT funding
- Payment to 3rd parties on your behalf – trust accounting not required
- Short and sweet, one-time agreement with us, then funding on a case-by-case basis, only if/when you need it
- No contracts or even contact with your clients
- Unlock your capital for other things
- Outsource admin by referring incoming bills to us
- Take on more cases
- Defer payment for up to 2 years (when the case resolves)
- Upfront pricing - no hidden fees or charges
Debtor Finance
You know your invoice will be paid - but when? Do you find yourself waiting weeks/months for your invoices to be paid? Why not issue an invoice and be paid for it immediately, on the same day! Get in touch to find out how.
For Lawyers
Disbursement Funding
Why do I need this/how does it work?
Rates, due dates, and all other variables can be decided on a case-by-case basis. When it comes to litigation there often isn’t a one size fits all solution. We tailor-make our working relationship based on what you need. The following is an example of what you can expect in a typical transaction:
- Medico-legal invoice/statement of claim/expert witness report/misc. disbursement = (say) $500.
- Solicitor sends invoice to Legal Pay.
- Legal Pay then pays $500 into law firm’s trust account OR pays external provider directly, based on your preference.
- Legal Pay issues a new invoice for an agreed amount which includes our service fee. This goes on your client’s file as a disbursement in the usual way.
- Upon settlement/judgement/award etc. your firm pays our invoice from the proceeds of the settlement.
We front the capital to get cases moving, that frees your cash up for other things, and the client doesn’t have to shell out upfront. Win, win, win. If you’re cash-flow positive anyway that’s great, but forking out hundreds of thousands to get matters moving is money that could be spent on an extra solicitor; more support staff; upgrading office space et al.
No extra paperwork
We do not require any loan documents, contracts, or any signatures from your client. We enter into a commercial relationship with you, based on a once-off set of terms and conditions. No obligation to use our services, and no lock-in contracts. There is a standing agreement between Legal Pay and your firm which you can choose to use if and when you feel like it.
What about disclosure?
We find that clients address this by inserting a simple clause into their conditional costs agreements, explaining that unless clients wish to pay out-of-pocket expenses during the case, the firm will engage the services of a third party funder.
Other Businesses
An Alternative to Traditional Lending
Securing finance from a bank or other financial institution can be a long, difficult, and frustrating process. Skip the fuss and take control of your business with a commercial arrangement that is tailored to your specific needs, without having to justify yourself with unreasonable disclosure.
Time is Money
When you're busy running a business, you don't have time to jump through hoops for financiers. Demonstrate your track record for paid work and we'll back you 100%.
Get Paid for the Work You've Done - Now!
We understand that extended payment terms are the "done thing" across several industries. Payment terms of 14 days+ are not uncommon. If you're tired of waiting to be paid for work you have already completed, get in touch with us to get paid on the same day you issue the invoice.
Know Your True Financial Position
It can be hard to take stock of exactly how well your business is doing when clients don't pay in a timely manner. Typically, larger companies take advantage of smaller suppliers by making them wait to have their invoices processed. With our assistance, you will be paid for the work you've done upon completion. That way, you always know exactly how much money you have at any given time.
What are your rates?
That depends on how much you need, and how quickly we can expect to recover our investment in you. Every business has unique needs. Get in touch today and let's talk about how we can help you grow.
Investors
Invest With Us
If you are a sophisticated retail (individual) investor and/or
professional (institutional) investor or funds manager, please reach out to us.
There is always room for further growth within the Legal Pay family.