Lawsuit Funding Brokers - Examining the Cost

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In any endeavor in which the origination of new business involves work and/or expertise, there will be persons willing to offer such service/expertise for profit. The business of lawsuit loans or cash advance funding for pending cases is really no different in this regard. Previously, we discussed some of the benefits brokers offer to those seeking pre-settlement loans. In this article we will examine exactly what function a lawsuit funding broker serves in the business and examine the cost associated with this specialty.

Let us first define what we are talking about when we use the term "broker". For purposes of the lawsuit funding industry, a broker is a person(s) or entity which originates new business for lawsuit cash advance companies and serves as a liaison between the applicant and the company. As stated before, origination is a vital part of any business. Therefore, brokers want to be compensated for their efforts. After all, it is not as easy as throwing up a website and answering a few phone calls.

Lawsuit funding brokers originate business in a variety of ways. Some focus efforts on historically effective marketing mediums such as print ads or mailers. Other brokers utilize the internet and market their service on the web. Still others market to attorneys with whom the broker creates a working relationship. Regardless of the way the business is generated, the brokers job is to get clients funded.

To this end, the broker must:

1. Get the client to call.
2. Compile the necessary paperwork.
3. Choose the appropriate lawsuit loan funder and submit the case.
4. Monitor the progression/status.
5. Field the clients calls and questions.
6. Forward the funding agreement to the client and the attorney.
7. Field questions regarding the contract and its terms for funding.
8. Secure and forward the Lawsuit Funding Contract to the funding company.
9. Confirm the client receives the cash advance.

Because lawsuit funding brokers offer the above and they expect to be paid for their time and expertise, brokers charge fees which are added on to the amount of the contract. Generally, broker fees for funding contracts range from15%-20% of the amount the client. Sometimes they are negotiated downwards on very large cases. However, it is important to remember that pre-settlement funding brokers work tirelessly answering questions from both clients and funders alike. Also, valuable time and expertise is often uncompensated as cases are denied funding for a variety of reasons.

Equally, and perhaps more important is the effect of a broker commission on the ultimate payoff of the lawsuit loan or pre-settlement funding transaction. Because the client often needs a specific amount of money, he usually does not want the broker commission to be deducted from his portion. But because the broker must be paid, the amount of his "commission" is added to the contract amount. Yet the amount of "interest" charged for a cash advance is not calculated on the amount the client receives but on the amount of the contract. So essentially the client is paying interest on money he did not receive.

Nevertheless, brokers serve an important function for clients and funders alike. Brokers give clients additional access and expertise that otherwise may not be available to clients dealing directly with a lender. Brokers help lenders in the origination business so that they can focus on other aspects of the lawsuit funding industry.

Ultimately, each client must decide whether to use a broker in lawsuit loan transaction. As with everything else, the value added versus the costs associated with this decision are subjectively determined.

Thank you for your interest in the lawsuit funding business.

pmc

Law School Scholarship - They Are Out There, Just Keep Looking

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There is a law school scholarship for those that look hard enough. Many institutions of higher learning offer them not only to minority students, but to those that do not have the financial resources to pursue this challenging career.

If you have maintained a 3.7 grade point average as an undergraduate and desire a career in law, it is possible. There are many scholarships that do require a person to be of a particular race, but not all.

Yale School offers a number of different scholarships for those students that wish to be a part of their alumni. These include the general scholarship, Home Country / State Scholarship, Minority Scholarship, Prospective Applicant Scholarship, Special Scholarship, Summer Scholarship, and Scholarships for the Disabled Students. These types of scholarships are very common because the cost of a law degree is huge. A good number of these scholarships are funded by donations of previous recipients of them. It is a way of paying back those that have helped them and giving an opportunity to others.

If you are still stumped, then also include schools like Birmingham in England. They offer 2,500 pound scholarships for international students to attend their law school.

Since most law students are very intelligent, keep looking. There is a scholarship out there that can assist you with the enormous cost of obtaining a law degree. While you are at it, look into grants and fellowships from law offices. Many of the bigger ones sponsor bright students that are financially challenged.

The most important thing is not to give up when looking for a school scholarship. If you want it bad enough, you will find it.

Understanding various law school requirements can make the difference between getting into the law school of your dreams and sitting on the sidelines. For more information about how you can make it into law school, visit http://www.lawschoolrequirements.org/ today.

101 Law Forms For Personal Use

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Regardless of what we do, paper and forms are a huge part of our life. Some are simple and some complex. Others seem unnecessary, while certain documents are worth more than you can imagine at certain times and during certain circumstances. For anyone who wants a head start with drafting forms, Attorney Ralph Warner & Robin Leonad's book "101 Law Forms for Personal Use" is a handy reference.

Nolo prides itself on making the law accessible to everyone. Nolo law books are written in plain English and help the non-lawyer with many areas of legal advice. And while no book can substitute for a licensed attorney, there are many instances where all a person really needs is the information contained in a book. We must trust the individual will know when the book isn't sufficient and an attorney should be consulted.

This text is all about forms. The introduction discusses how to use the book. There are sections on filling in the contracts and forms, editing the forms, describing people, property and events, signing the forms, resolving disputes, and a brief bit on if you need a lawyer. It is a short chapter with brief general advice regarding the book.

One thing a person could do is use this book to get a head start, and then let an attorney review it to ensure you have not missed anything and that it complies with your local statutes and regulations.

The forms are divided into fifteen categories or chapters and those categories are:

1. Delegating Authority to Care for Children, Pets, and Property. Forms in this chapter include: Authorization for Minor's Medical Treatment, Pet Care Agreement, Power of Attorney for Real Estate and more. 10 forms in all.

2. Basic Estate Planning. 5 forms including Property Worksheet, Beneficiary Worksheet, and basic wills.

3. Things to Do After Death: Documents for Executors. Request for Death Certificate, Notice to Creditor of Death, Executor's Checklist and others. 7 in all.

4. Renting a Place to Live. Forms such as Apartment-Finding Service Checklist, Landlord-Tenant Agreement to Terminate Lease, Landlord-Tenant Checklist, Notice of Needed Repairs and others. 9 forms total in this chapter.

5. Borrowing and Lending Money. There are 16 forms in this chapter, including forms such as: Loan Comparison Worksheet, Promissory Notes, Cosigner Provision, and Overdue Payment Demand.

6. Buying a House. Forms such as Idea House Profile, House Comparison Worksheet, and Mortgage Rates and Terms Worksheet are included in this chapter that contains 7 forms in all.

7. Buying or Selling a Car, Dog, or Other Personal Property. 5 Forms. Bills of Sale for motor vehicles, boat, computer system, general, and dog.

8. Renting Personal Property and Storing Goods. 3 forms consisting of Personal Property Rental Agreement, Notice of Termination, and Storage Contract.

9. Home Repairs and Maintenance. 3 forms consisting of Home Maintenance Agreement, Home Repairs Agreement, and Contractor Mid-Job Worksheet.

10. Handling Personal Finances. There are 11 forms in this chapter and they include: Daily Expenses, Monthly Income, Assignment of Rights, Request for Credit Check, and Dispute Credit Card Charge.

11. Dealing With Junk Mail and Telemarketing Calls. 5 forms. Included are: Notice to Remove Name From List, Telemarketing Phone Call Log, and Demand for Damages for Excessive Calls.

12. Hiring Child Care, Elder Care, or Household Help. 4 forms in this chapter. They include: Child Care Agreement and Instructions, and Elder Care Agreement.

13. Living Together. Forms include Agreement to Keep Property Separate, Agreement for a Joint Purchase, and Declaration of Legal Name Change. 4 forms total.

14. Settling Legal Disputes. There are 10 forms in this chapter and they range from a Demand Letter to various releases. One thing I would definitely recommend is that a person consult with an attorney before signing any release.

15. Miscellaneous Forms for Personal Use. The final 6 forms in this book include: Complaint Letter, Notice of Insurance Claim, Notice to Cancel Certain Contracts, and an Identity Theft Worksheet among others.

The book also comes with a CD-ROM containing all the forms and the appendixes include instructions on how to use the CD-ROM and tear out fill in the blank forms.

This is a handy reference to have, but I do feel that a lot of people will never use many of the forms found here. Others though will be quite helpful. It's not that expensive of a book, especially with the included CD-ROM, so if you need a legal form reference, this is not bad to have on the shelf to assist you with drafting documents when the time comes that you need them.

Alain Burrese, J.D. is a performance and personal development expert who teaches how to live, take action, and get things done through the Warrior's Edge. Alain combines his military, martial art, and Asian experiences with his business, law, and conflict resolution education into a powerful way of living with balance, honor, and integrity. He teaches how to use the Warrior's Edge to Take Action and Achieve Remarkable Results. Alain is the author of Hard-Won Wisdom From The School Of Hard Knocks, the DVDs Hapkido Hoshinsul, Streetfighting Essentials, Hapkido Cane, the Lock On Joint Locking series, and numerous articles and reviews. You can read more articles, over 100 reviews, and see clips of his DVDs as well as much more at http://www.burrese.com/