Frequently Asked Questions

Law firms in practice areas such as criminal defense, family law, immigration, and estate planning use it, along with tax resolution firms, enrolled agents, CPAs, and other professional service providers whose clients pay out of pocket.

Clients can finance retainers, flat fees, hourly invoices, consultation fees, and tax resolution fees. The amount a client is approved for is set by the lender and depends on the client's credit profile, not on the firm.

Each lender sets its own criteria. Credit score matters, but lenders also look at debt-to-income ratio, income, and recent credit history, and each one has a different tolerance for risk. Legal Financing Solutions uses a waterfall system, so an application one lender declines can move on to others that serve prime, near-prime, and subprime borrowers.

The client needs to lift the freeze with the three major credit bureaus (Equifax, Experian, and TransUnion) before applying, because lenders can't review a frozen credit file. The freeze can be put back in place once the loan is finalized.

No. Approval depends on each applicant's credit and on each lender's criteria, so no firm should promise a client that they'll be approved. Having more than one lender review the application improves the odds, but it doesn't guarantee an offer.

No. Applying creates no obligation. A client can review the offers, turn all of them down, and pay another way. Because prequalification uses a soft credit check, walking away has no effect on their credit.

Once the client accepts an offer and the loan funds, the lender pays the firm in full, typically within 48 hours. The client then makes monthly payments to the lender, not to the firm.

The loan is the client's obligation to the lender. Many lenders on the platform offer non-recourse programs, which means the firm isn't responsible if the client defaults, while some programs carry limited recourse. Your representative will explain the terms of each program before your firm uses it.

Cards and payment plans don't cover every client. A client's card limit may fall short of the retainer, and an in-house payment plan leaves the collection risk with your firm. Financing gives those clients another way to pay, and some clients who could pay in full prefer monthly payments so they don't drain their savings. Offering it alongside your existing payment methods gives more people a way to move forward with the engagement.