Would you take a suitcase full of cash, put it under your bed and leave it there for three years? Probably not, right? You want to earn interest on your money and that suitcase full of cash won’t earn a penny. Even if you put your money in a money market account, you’ll get at least get some return from your money even if it’s just 1%.
But just about all lawyers are tying up their money in case disbursements without earning a single penny of interest. Your hard-earned cash can be locked up in disbursements to fund a case for two to four years. Sure, you’ll get your money back if you win the case, but with ZERO interest. You don’t need a financial planner to tell you this is a crappy investment.
Stop Lending Money to Your Clients Interest Free
It’s doesn’t have to be this way. Third-party lenders, such as Advocate Capital, will pay the disbursements as they are incurred and at the end of the case, your clients will reimburse them. You don’t have to pay the disbursements and you can use your money to grow your practice with marketing or just sock the cash into a savings account. Regardless of how you spend your extra cash, you won’t have to worry about the cash flow of your law firm being tied up in disbursements. Third-party leading for lawsuit disbursements is a win for you!
And your clients win too. With a third-party lender paying the disbursements, you won’t have to worry whether you can afford to pay the huge fees of the best experts in the country and you can spend dollar-for-dollar with the richest insurance companies. Your clients will know you can afford to go to verdict with their case without worrying about the costs of trial.
Third-party lending for case disbursements is a win for you and your clients. The best third-party lender (in my humble opinion) is Advocate Capital based in Nashville, Tennessee. Michael Swanson, CEO, of Advocate Capital, and his excellent team, are strong supporters of civil justice for injury victims and they have done a great job for me. Give them a call and find out what Advocate Capital can do for you.