Crisis in the U.S. Courts Squeezing Plaintiffs’ Attorneys
RD Legal Funding, LLC (“RD Legal”) is providing lawsuit funding to attorneys squeezed by court delays. Lawsuits are taking longer than ever to settle due to logjams in the American courts. Forty-two states cut judicial budgets in 2011. Federal courts had 90 vacancies as of July 28, 2011, with only 53 pending nominations. Plaintiff firms, combatting the traditional “war of attrition” waged by large firms on the defense side, need assistance to weather the additional delays caused by the overloaded judicial system. Post settlement financing provides an effective, ethical solution for their cash-flow crises.
Attorney David Boies described the impact budget cuts are having on the judicial system: “…by cutting the judicial budget…in fact you’re incurring tens of millions of dollars of costs on consumers of the justice system who now have to wait, have to travel, have to incur additional fees — have to just generally have justice delayed.” Former Solicitor General Ted Olson described attorneys showing up in court only to be sent away for months until another court date is secured: “Now the case has to be prepared all over again, the witnesses have to be subpoenaed, blah, blah, blah. The cost is enormous...” (wsj.com)
Contingency fee practices, already hampered by the associated costs of expensive litigation, are being stretched to the breaking point by the increasing length of litigation. Plaintiff’s attorneys, who are often not compensated for months or years after a settlement is reached, are seeing their settlements recede even further in time. Without legal funding, more and more firms will lack the resources to bring worthy actions to trial or to attain a settlement in the best interests of a contingency fee plaintiff.
RD Legal makes lawsuit funding available to attorneys while maintaining the utmost in ethical standards. A post-settlement lender has neither an interest nor any impact on when a case is settled, or for what amount. Attorneys do not need to compromise their obligations of client confidentiality, loyalty and control over a lawsuit in order to obtain necessary funding.
There are no monthly interest or principal payments associated with post-settlement funding. Once the necessary documentation is received, RD Legal can wire funds within a few days. The company provides financing for virtually any type of settled case, including environmental disasters, personal injury, class action, medical malpractice, negligence, product liability, wage and hour disputes, wrongful death, infant injuries, court appointed fees, and employment discrimination. RD Legal has the resources to fully fund settlements for more than $20 million.
Since its founding in 1997, RD Legal has established itself as one of the nation's leading providers of legal funding to attorneys and plaintiffs. To speak to a financing expert, call RD Legal toll-free at 800-565-5177. More information is available at http://www.legalfunding.com.