If you are a lawyer or plaintiff with a wage and hour settlement, it can be frustrating waiting for your fee or award to pay out. You may need immediate capital to cover day-to-day business expenses in addition to the high costs of litigating a case.
This is where RD Legal’s proprietary Fee Acceleration post-settlement funding program is the ideal solution. RD Legal can purchase your settlement at a discount so that you have access to your funds right away. You can have your hard-earned money to use when you need it and are no longer at the mercy of the courts.
Wage and hour lawsuits are probably some of the most common cases in the employment law sector. According to an article in the Huffington Post, wage and hour suits have dramatically increased over the past decade. Such lawsuits involve employees who claim they didn’t receive full compensation for the hours they worked. Companies that have faced wage and hour lawsuits recently include Starbucks, Taco Bell, Costco, Bank of America, IBM, Oracle, and Wal-Mart.
There are numerous reasons for the rapid increase of wage and hour lawsuits. The sluggish economy is a contributing factor. Due to budget limitations and pressure from executives to keep costs down, many businesses are making employees work off-the-clock. Because of the unstable job market, many workers are afraid to report labor law violations. However, when unemployment rises and workers start getting laid off, retaliation is no longer a concern. The construction industry is experiencing an increase in off-the-clock claims, as there is generally no traditional time clock and hours are often self-reported.
According to an article in Bloomberg, ambiguities in the Fair Labor Standards Act (FLSA), which specifies guidelines for overtime pay, is a contributing factor to the increased number of wage and hour suits. The FLSA states which workers are entitled to additional compensation for exceeding 40 work hours per week. Another common type of wage and hour lawsuit involves misclassification claims. Some employers misclassify non-exempt employees as exempt to avoid paying overtime.
If you’re a plaintiff’s attorney, you should be focusing on your client’s needs and not your cash flow. If you’re a plaintiff involved in litigation, you understand how complicated and drawn out the process can be. In either case, you might assume that once your case has settled, you are home free. Unfortunately, this is not always the case due to reasons beyond your control, including slow-paying defendants, administrative delays, or court approvals.
RD Legal Funding’s Fee Acceleration program converts settled cases into immediate cash. RD Legal advances fees on virtually any type of settlement, including wage and hour claims. To apply for post-settlement funding, please fill out the brief form at the top of this page. If you have any questions about RD Legal’s settlement funding solutions, please call us at 201-568-9007.