Shield Fixed Fee Payment Plan
The Shield Fixed Fee Payment Plan product is a fee-based payment service, with no contract and an agreed set service fee. Payment of Personal Injury disbursements are made directly to third-party providers.
- No client contract required
- No credit or income checks
- No property security required
- Repayments not due until settlement of the claim
- No early repayment penalties
- No restrictions on medical report providers
The Shield Fixed Fee Payment Plan is ideally suited to almost any Personal Injury case, including those with multiple disbursements. With no minimum disbursement amount, Legal Funding Australia will provide funding at any stage during the claim’s progress.
How it works
The Shield Fixed Fee Payment Plan allows direct payment to a third-party provider of various vital medical reports, valuations, expert reports, Court filing fees and other legal expenses, on behalf of a Claimant. This reduces the administration and trust accounting requirements for the Law Firm.
Instead of an interest-based loan, the Shield Fixed Fee Payment Plan charges a fixed percentage fee, allowing Law Firms and Claimants an alternative product to easily calculate out-of-pocket costs. There is no loan documentation required or to be completed by or explained to the Claimant.
Pre-approved law firms
The Shield Fixed Fee Payment Plan 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 Shield Fixed Fee Payment Plan.
We only work with Lawyers specialising in Personal Injury that pass our accreditation process.
Why a Shield Fixed fee payment plan?
CONVENIENCE – The Law Firm provides Legal Funding Australia with a copy of the invoice, and we pay the third-party provider directly, on behalf of the Claimant. An advantage of the Shield Fixed Fee Payment Plan is that no loan contract is required.
NON-RECOURSE – The loan is non-recourse to the Claimant which allows the Law Firm to continue to act on a ‘no-win-no-fee’ basis. If the case is unsuccessful, the Claimant is not required to pay back the loan (except in cases of fraud).
NO MONTHLY REPAYMENTS – A Shield Fixed Fee Payment Plan 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.