RD Legal Funding Offers Post-Settlement Advances to Attorneys with Merrill Lynch Settlements
Cresskill, NJ: On Friday, September 29th, Bank of America agreed to pay $2.43 billion to settle lawsuits with shareholders who claimed the bank hid information about Merrill Lynch when it bought the investment bank during the height of the financial crisis. According to several news reports, this is the largest shareholder class-action lawsuit settlement that pertains to the financial crisis.
If you are an attorney with a Merrill Lynch settlement that is slow to pay, RD Legal Funding, LLC (“RD Legal”) can accelerate the payment of your hard earned legal fee. Our Fee Acceleration program converts your unpaid legal fees associated with settled cases into immediate capital so you can manage your cash flow and grow your practice.
Bank of America has been embroiled in lawsuits since the start of the financial crisis. Their problems were exacerbated when they bought Countrywide Financial and Merrill Lynch, as they assumed all legal liabilities the entities had with investors, customers, and creditors. It was reported by the Wall Street Journal that since 2009, Bank of America has paid about $29 billion to settle lawsuits.
Merrill Lynch and Countrywide were both troubled entities when the financial crisis hit. Countrywide signed off on a lot of mortgages that were subsequently deemed no good, and Merrill Lynch was deeply embroiled with billions of dollars of mortgage backed securities which turned sour when the market crashed. Bank of America, relatively healthy at the time, bought both companies and became liable for all the mistakes and lawsuits that came crashing down once the housing market collapsed.
RD Legal can provide attorneys with Merrill Lynch settlements interim post-settlement financing, which provides immediate capital on slow paying settled legal fees. Call RD Legal toll-free at 1-800-565-5177 to learn more about post-settlement lawsuit funding solutions. If you are ready to start accelerating your legal fees, you can apply online at http://www.legalfunding.com/solutions/fee_acceleration.cfm.
About the Author:
Lulaine Compere is a Deal Origination Analyst at RD Legal, a leading provider of legal funding solutions with offices in Cresskill, NJ and Riverside, CA.