Changing attorneys during a lawsuit is a significant decision, and it can also impact various aspects of your legal journey, including the process of applying for funding. If you’re in the middle of litigation and find yourself in need of financial assistance, understanding how the attorney change affects your ability to secure lawsuit funding is essential. At Fast Funds, we understand how critical timely financial support is for plaintiffs, especially during the transition between attorneys. Whether you’re handling a personal injury claim, an employment dispute, or any other type of case, knowing what to expect when applying for funding can help ease your concerns.

Understanding Lawsuit Funding

Lawsuit funding, also known as litigation financing or pre-settlement funding, offers plaintiffs a financial lifeline while they await the resolution of their legal case. This type of funding is designed to cover pressing expenses like medical bills, rent, or daily living costs, without the need for the plaintiff to wait until the settlement or verdict is reached.

Lawsuit funding is a non-recourse loan, meaning that repayment is contingent on the outcome of the case. If you lose the case, you are not required to repay the funding. This makes it an invaluable resource for individuals who cannot afford to wait for a settlement or trial outcome, particularly when their attorney change complicates the process.

However, when you change attorneys, this process may require additional steps and careful attention. Let’s take a closer look at how this works and the steps you should follow to ensure a smooth transition.

Step 1: Notify the Funding Company of the Change

The first and most important step when you change attorneys is to notify the lawsuit funding company. This ensures that the company is aware of the transition and can update their records accordingly. The funding company needs to know that the attorney handling your case has changed, as this can affect both the strategy and timeline of your case.

Failing to notify the funding company could result in delays, confusion, or even a disruption in your funding approval process. By keeping the funding company informed, you’re ensuring that they have the most up-to-date information about the handling of your case.

At Fast Funds, we advise all our clients to communicate any changes in their legal representation as soon as possible. Our team will work with you and your new attorney to ensure that everything stays on track, with no interruption in the financial support you need.

- WHAT CLIENTS ARE SAYING -

In June, my wife and I asked our attorney about giving us a loan against any settlement proceeds from our case. He told us that the state bar does not

permit lawyers to participate in the financing of clients. The offer of settlement was very low so the case needed to be filed in court. I called Fast Funds. Within 24 hours, I had entered into an agreement with them, selling a very small portion of the anticipated proceeds to them in exchange for immediate financing. Now my suit is in court and I don't have to worry about money until it's outcome. Thank god for Fast Funds

B.G.

As a result of the advances you have made to our client, we were able to refuse an extremely low settlement offer and take the case to court. We settled the day of the trial for a very generous sum. Had there been no advances by Fast Funds, our client would have had no choice but to accept the inadequate offer since he was in severe debt due to his inability to work. Thank you for your helpful assistance in providing our client with the ability to persevere.

C.F.

I was involved in an accident which took my left leg. I was forced to live homeless for eleven months. Thanks to the Fast Funds people advancing money. I now live in an apartment,I am walking on a prosthetic and otherwise getting my life back together, even though my attorney has not yet settled my lawsuit. I don't know what I would have done for money because the insurance company has offered nothing so far.

A.R.S.

I was involved in an auto accident which caused me to suffer a herniated disc. Because of this injury, I was forced to miss many months of work. I had no income and no place or person to turn to for money. My attorney told me he was unable to help with any financing and the insurance company was refusing to settle the case. I turned to a company called Fast funds. They immediately reviewed my file and took the financial pressure off by providing me with interim financing. I am now able to wait for as long as it takes for my lawyer to achieve a successful result in my case. Without the financial involvement of Fast Funds, I don't know what I would have done.

K.P.

I wanted to thank you for your sensitivity in helping me cope through a very difficult time in my life. Without your help, I would have been unable to pay my rent , forcing my wife and children to be put on the street. I have not been able to return to work and I was tempted to accept the insurance company's very low offer to settle, even though I knew it was not fair or reasonable. You have given me the ability to withstand the financial pressures. Thanks for your help. I will never forget it

C.S.

I have in the past referred clients to Fast Funds Inc., a non-recourse company. The experience of my clients

and my firm were totally positive. Fast Funds was responsive to the clients financial and emotional needs, provided the necessary emergency money and did not interfere in any manner with my handling of the cases. The clients, without my input, negotiated the advance directly with the company. In each case, they were completely satisfied with the final result of the case, including the amount of profit earned by Fast Funds. Non-recourse funding is clearly a valuable tool to the plaintiff's attorney.

M.J.L.

"I am writing to recommend the valuable assistance of the Fast Funds Inc., a company that provided interim funding to financially needy clients. They help to insure that a case will be brought to a successful resolution. A good case in point is when I was offered $75,000.00 for a seriously injured client. Had she not been able to take advantage of the advance financing offered by Fast Funds, I would have been forced to take the money. As it turned out, because my client now had the financial ability to withstand the pressures of time, I tried the case to a jury and received a verdict of $315,000.00.

M.S.D.

It is my belief that non-recourse companies, such as Fast Funds, the company to whom I refer my needy clients, perform an invaluable service to both the client and the attorney. Simply put, it is common knowledge that one of the tools negotiation utilized by insurance companies is time. Offering

considerably less money than the actual case value to a client in desperate need of funds while the case is pending, gives the insurance companies a tremendous advantage. This advantage is minimized and the playing field is leveled when the client has the ability to obtain funds for a minimal portion of the anticipated proceeds. Many times, with no prospects of income, an injured party will settle the case for whatever offer is made.

R.J.F.

Step 2: Provide Updated Information About Your New Attorney

Once you notify the funding company of the attorney change, you will need to provide them with updated contact information for your new attorney. This typically includes your new attorney’s name, law firm, and any other relevant details.

In many cases, the funding company may also require a statement from your new attorney. This could be a simple confirmation letter that your new attorney is now representing you in the case. If necessary, the funding company may request a brief overview of the case from the new attorney, including their thoughts on the timeline and potential outcomes. This helps the funding company assess whether they can continue with the funding based on the new attorney’s involvement.

This step ensures that the funding company can quickly verify that the new attorney is fully involved in your case and that they’re up to speed with the legal proceedings.

Step 3: Re-evaluation of Your Case

After an attorney change, the lawsuit funding company may choose to re-evaluate your case. This step is crucial because your new attorney’s strategy or assessment of the case might differ from the previous attorney’s. This re-evaluation is especially important if there are any significant changes in the direction of the case, the strength of the claims, or the anticipated timeline for a settlement.

The re-evaluation process generally includes:

New attorney’s opinion: The funding company may ask your new attorney to provide an updated legal opinion regarding the potential outcome of the case.
Updated case assessment: Your new attorney will provide insight into any changes in the approach or strategy, which could affect the funding company’s decision to move forward with the funding.
Revised timeline: If the attorney change results in any delays or shifts in how quickly the case is expected to be resolved, the funding company will need to understand how this might affect the funding agreement.

Step 4: Adjustments to the Funding Terms

If the re-evaluation process reveals any potential risks or changes in your case, the funding company may need to adjust the terms of the funding agreement. This could include:

Changes in the funding amount: If the case is perceived to be weaker or if it will take longer to resolve, the funding company may reduce the amount they are willing to offer.
Revised repayment terms: Based on the updated timeline, the repayment terms could be adjusted to better align with the expected case outcome.
New interest rates: If the new attorney’s strategy introduces more risks or extends the case duration, the funding company may apply a different interest rate to reflect these changes.

These adjustments are typically made in response to any perceived risks that might have changed after the attorney switch. The funding company is protecting itself by ensuring that the case remains financially viable for both you and them.

Step 5: Finalizing the Funding Agreement

Once the re-evaluation is complete and any necessary adjustments have been made, the lawsuit funding company will finalize the funding agreement. This involves:

Signing the agreement: Both you and your new attorney will need to sign the updated funding agreement, acknowledging the revised terms and conditions.
Disbursement of funds: Once the agreement is signed, the funds will be disbursed to you, typically in a lump sum. This ensures that you have access to the financial support you need to continue with your case.

At Fast Funds, we prioritize making this final step as smooth and efficient as possible. Our team works closely with your new attorney to ensure all necessary paperwork is completed accurately and promptly, so you can get the funds you need without delay.

Potential Challenges and How to Overcome Them

While the process of applying for funding after changing attorneys is relatively straightforward, there can be a few challenges:

Delays in communication: If your new attorney is not prompt in providing the necessary information to the funding company, it can cause delays. To overcome this, be proactive in maintaining clear communication between all parties involved.
Differences in legal strategy: If the new attorney changes the direction of the case significantly, the funding company may view this as a risk. You can mitigate this by choosing a new attorney who has a clear plan and track record of success.
Revised funding approval: In some cases, the funding company may need to adjust the approval terms based on the re-evaluation process. It’s important to be flexible and work with the funding company to ensure the best possible outcome.

Navigating the lawsuit funding process after changing attorneys may seem daunting, but with the right approach and clear communication, it doesn’t have to be complicated. By notifying your funding company, providing updated attorney information, and allowing for a re-evaluation of your case, you can continue to receive the financial support you need to pursue your legal claims.

If you’re in need of lawsuit funding and have recently changed attorneys, Fast Funds is here to help. We specialize in providing pre-settlement funding to plaintiffs across various legal matters, including personal injury, employment, and more. Contact us today for a free consultation and let us guide you through the process.

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Lawsuit Funding

Applying for Funding When You’ve Changed Attorneys: How the Process Works