Advance Disbursement Funding Loan
The Advance Disbursement Funding Loan product is a short-term loan of settlement proceeds, paid in advance to the Law Firm’s Trust Account.
- Client contract is required
- No credit or income checks
- No property security required
- Repayments not due until settlement of the claim
- No early repayment penalties
- Part proceeds of settlement available in advance
How it works
An Advance Disbursement Funding Loan allows early access to a portion of a Claimant’s settlement proceeds through the Law Firm. To be eligible for an Advance Disbursement Funding Loan, we assess each case individually, looking for one or more of the following outcomes:
- Liability admitted
- Settlement successfully negotiated/agreed
- Court Order
Pre-approved law firms
An Advance Disbursement Funding Loan is only available through pre-approved Law Firms whereby Legal Funding Australia and the Law Firm have an established Guarantee Agreement. This Guarantee Agreement makes the Law Firm a Guarantor of the Advance Disbursement Funding Loan.
We only work with Lawyers specialising in Personal Injury that pass our accreditation process.
Why an advance disbursement funding loan?
The Advance Disbursement Funding Loan has a fixed interest rate for the life of the loan.
CONVENIENCE – With our simple application process, the Law Firm can access a lump sum payment, on behalf of the Claimant.
EARLY ACCESS – The loan allows a Claimant early access to their settlement proceeds, with flexibility and financial freedom, providing much needed funds during a difficult time.
NO MONTHLY REPAYMENTS – An Advance Disbursement Funding Loan is not like a bank loan. There are no monthly repayments.
How to apply
If you wish to become a Panel Solicitor Law Firm, contact Legal Funding Australia. We will assess your request, and approve an overall credit facility for your firm’s disbursements.
For Claimants, you will need to talk to your Lawyer about Legal Funding Australia helping to fund your legal disbursements.