Attorney And CPA Funding Loans On The Rise As B.P. Settlement Payments Are Delayed

- Lawsuit Funding Firm says B.P.'s legal challenges have drastically slowed the payment process forcing many firms to access capital to obtain cash flow needs for business capital.

News provided by

Legal-Bay LLC

May 16, 2013, 05:00 ET

TAMPA, Fla., May 16, 2013 /PRNewswire/ -- Legal-Bay LLC, The Lawsuit Settlement Funding Company, announced today that they have seen a sharp rise in applications and funding needs from CPA's, lawyers and law firms who are in need of capital to help their firms with needed case cost funding and to grow due to the large influx of B.P. economic case filings. Many of the applications have come from small to medium sized firms that have begun aggressively signing up B.P. Economic Claims Clients in the states of Texas, Louisiana, Mississippi, Alabama, and Florida where all the claims have originated.

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Legal-Bay is one of the few companies in the pre-settlement funding industry that specializes in CPA and attorney loans, prior to cases even being settled. Legal-Bay also specializes in plaintiff B.P. Claim Funding for business owners that need capital to keep their businesses afloat. Legal-Bay's team of lawyers and CPA's have the expertise and knowledge of the entire B.P. Litigation, which has enabled them to quickly underwrite a law firm's case log and approve credit facilities within days. And more importantly, provide the law firm or CPA firm the needed capital based on the firms anticipated revenue of the settled B.P. Claims.

Chris Janish, Legal-Bay's CEO commented on the B.P. settlement payment update, "With B.P. now challenging the settlement agreement in which they willfully signed, it has greatly delayed the process of payment; as the B.P. Claim Center seems to have taken a stricter look at each and every claim. What has occurred is that both plaintiffs and law firms who have expected to be paid by now, really have no clue when their funds will actually come. Our firm has been able to provide CPA and attorney funding loans to these smaller firms very quickly, so that they can continue to pay their staff and grow their business until B.P. finally does pay."

If you are a business owner who needs B.P. Claim Funding; or CPA or law firm that needs working capital today, you may apply to Legal-Bay directly at: lawsuitssettlementfunding.com or by calling toll free at: 877.571.0405 where live agents can begin the application process immediately.