Case Acquisition Funding
Case Acquisition Funding
Being a Lawyer and running a profitable law business is tough. Costs are high, expectations are great, and your clients, seeking redress for injury for many reasons, seldom understand the challenges you have to overcome to give them the best possible chance of winning their case. And why should they? They just want their pain put right as soon as possible.
Let’s face it, despite the often misconstrued perception, it’s pretty tough running a modern, growing and profitable law firm.
And that’s why BMS Funding exists. Our founders have many years’ experience innovating within the legal sector, our mission is to help ambitious law firms deliver the best possible service to their clients whilst maximising your profitability and strengthening cash flow. After all, why shouldn’t you get paid for the true value you deliver; it’s taken years of study and experience for your business to be confident in the professional opinions you provide.
BMS Funding has many years’ experience providing accessible Law Firm financing, helping legal practices meet growth targets. We also specialise in litigation funding, helping individuals and businesses pursue litigation whilst mitigating their risk exposure.
Our mission is to help ambitious Law Firms deliver the best possible service to their clients, providing them with access to justice, whilst maximising their profitability and strengthening cash flow. As part of our Law Firm finance offering for practices in England and Wales, we provide expert case assessment and management support.
We have several finance solutions available to fund your caseload within PI (RTA, EL, PL), Medical Negligence, Housing Disrepair, and Commercial Litigation. Our approach is flexible, and we work in close partnership with your firm to provide interest and charge free legal finance. We can provide finance solutions to fund a range of costs including solicitor’s fees, counsel’s fees, court fees, experts fees, ATE insurance premiums, and any other costs associated with alternative dispute resolution and litigation.
BMS Funding also works with businesses and individuals who require third-party funding in order to pursue litigation. We have developed a unique solution which caps Claimants’ financial exposure at a set amount, ensuring their risk is managed. We also provide insurance through leading ATE providers to protect claimants against adverse costs orders.
BMS Funding works in conjunction with major UK funders and is able to provide confidential discount funding on RTA portal case acquisition costs.
Cash flow is significantly accelerated and capital is no longer tied up in portal cases.
What it does
Specifically provides legal funding for the acquisition of EL/PL and RTA cases to give you the ability to increase your marketing spend and keep a consistent growing volume of cases coming into your business.
What you get
We will provide you c. £600 per case, this will be provided interest and charge free for six months (RTA) and c.12months (EL/PL), giving you time to settle the case and be reimbursed before the money is due to be repaid. Where cases last longer than 6/12 months, interest becomes payable at 1.5% per month.
BMS provides ATE cover which has enhanced cover to underwrite any rehabilitation treatment that has been undertaken. BMS puts the customer at the centre of what we do. As such, treatment is made available immediately after a case has been funded, at no risk to you the firm, the client, or the funder, helping the client recover as soon as possible. Your clients can begin their treatment within 48 hours of the CFA being signed with BMS.
What it does
Provides cash to enable Law Firms to pay the disbursement costs on cases throughout a claim. This includes Court fees, ATE deposits, expert reports, and a Barrister’s opinion.
What you get
Access to disbursement finance and reimbursement of any monies you have paid out of your business within 48hrs (excluding weekends). Allows you to unwind your disbursement fund position and gives you the flexibility to use existing experts via our Specialist MRO’s. Also ensures you no longer select experts based upon financial terms but rather on who is best for your client.
The client gains confidence that the Law Firm has the funds available to push the case as far and as hard as necessary. On a strategic level, the Defendant knows that monies are available to pursue the case to the end. Finally, the client can be assured their Solicitor will be selecting the best experts available, increasing the chance of success.
BMS recognise all firms are different. We don’t just stick with our standard models. We can support your business in several diverse ways. So, if you have a specific need for funding then speak to us. This may include HDR or CWI legal funding, which requires a combination of both acquisition and disbursement funding, or costs funding. We can tailor our models to work with you and have done successfully several times before.
BMS Funding Ltd. offers a range of legal funding solutions tailored to suit the individual needs of forward thinking PI law firms.
It might help you to know the type of Law firms we work with. There is a commonality amongst our clients in their ambitious aspirations to grow and develop their businesses, to evolve to reflect the changes we face in life and in business, and to run a modern and professional law practice. What all our clients face is the challenge of financing growth in areas such as marketing and business development, case loads, new services and working capital. The old adage, “Cash is King” has never been truer, and here at BMS Funding, we typically work with Law practices operating in:
And the structure of those we are best placed to help are:
These clients typically use BMS Funding to finance case acquisition and case disbursements, but we know each Law firm is different; contact us on 0333 212 7151 to explore how BMS Funding can provide the right legal funding solution for you.