In Part 7, Michael J. Swanson discusses how taking a subordinate position is one of the hidden costs of self-funding case expenses. Be sure to check back for new videos as Mr. Swanson explores each of the hidden costs.
* In most jurisdictions, a law firm can recover finance charges related to funding case expenses from case awards, but the compliance requirements can be too expensive to implement. Only Advocate Capital, Inc. has the proprietary AdvoTrac® expense tracking system and service team that allows firms to easily comply with allocation and reporting requirements. So, for example, if a firm recovers at least 90% of its advanced case expenses, like most of our clients, the annual net cost of funds is very small-typically less than 1%. Contact us to discuss how our program can work for your firm. All loans are subject to credit approval, and terms and conditions may vary.
Financial Services provided through Pinnacle Bank, a Tennessee Bank, which is a Member FDIC and Equal Housing Lender. Loans may be subject to credit approval.
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