Frequently Asked Questions

Why use Counsel Financial instead of a bank?

Banks are a great place to start when you need a loan. However, the amount you can borrow is limited to the value of your personal assets. At Counsel Financial, borrowing power is based upon the total value of your cases, as determined by you and our team of attorneys.

What can I use my credit line for?

You can use your credit line for any law firm expenses, including case costs, expert witnesses, payroll, general office expenses, hiring additional staff and advertising.

What are the terms of my credit line?

Counsel Financial offers flexible repayment terms and interest-only payments monthly for the first two years (although you can pay the principal back anytime without penalty). Principal payments are then amortized equally over the following two years.

Are my monthly payments tax-deductible?

Yes, all monthly interest payments made to Counsel Financial are tax deductible as “ordinary and necessary” business expenses, which will save you and your law firm money. You receive no tax benefits when you finance your own cases - unless you lose! In addition, interest on loans for client expenses can usually be charged to the client (check your local state ethics rules or call us to receive a copy of the opinion in your jurisdiction).

Is Counsel Financial associated with my cases
in any way?

ABSOLUTELY NOT. Counsel Financial is not involved with your clients or legal cases. We have a working relationship with the law firm as any lender would. You, of course, remain in complete control of your entire portfolio. Attorney-Client confidentiality is protected at all times.

What kinds of cases can be used as collateral?

A variety of contingency fee cases can be used as collateral against a line of credit, including:

How can I get started?

If you’d like to learn more, or are ready to apply for a line of credit with Counsel Financial, please complete our Quick Application or contact us at 1-800-820-4430 for a free, 15-minute consultation.