Can I change attorneys while receiving pre-settlement funding?
When it comes to pre-settlement funding, many individuals may find the process of dealing with an attorney overwhelming. While the services of a lawyer are always advisable when dealing with a large sum of money, it is understandable why some may want to switch attorneys while in the process of receiving pre-settlement funding. The short answer to the question is yes, you can change attorneys while receiving pre-settlement funding. However, there are several things to consider before making a final decision.
When faced with the reality of having a case transferred to a new attorney, many people may wonder if the process will be disruptive or make their legal standing worse. It is certainly possible that if the timing is not right, changes to the legal team may add uncertainty to the case. Changes could potentially impact the progression of the case or even the result of the resolution. In addition, the overall costs may increase if the new attorney has significant time to get up to speed on the specifics of the case. However, it is likely that if you have a strong case, the impact of switching attorneys should be minimal.
In general, when switching to a new attorney for a pre-settlement funding case, there are several steps to be aware of. The first would be to contact the original attorney to complete the necessary paperwork to terminate the existing legal representation. This should also include obtaining a copy of the retainer agreement to ensure that all financial agreements have been met. In some cases, the original attorney may be entitled to a portion of the settlement or they may require the payment of their remaining legal fees even if they are not the attorney of record on the case. It is very important to determine these aspects of the legal relationship before proceeding with the switch.
Once the agreement with the original attorney has been terminated, the next step would be to find a new attorney to represent the case. If the case is already well underway, it is important to find an experienced lawyer in the same jurisdiction with similar expertise in the particular area of the law. Open communication with the next legal counsel is key to ensure that the attorney is familiar with the particular case and has sufficient time to catch up on any developments.
When choosing a new attorney for pre-settlement funding it is also important to evaluate their payment structure closely. If the attorney only accepts a portion of the potential settlement, it is important to look into that and make sure that you are comfortable with the process and the expectations of both parties. In many cases, when attorneys move to a contingency fee arrangement, they will require a large upfront retainer and this may impact the amount of pre-settlement funding available and the timeline for the resolution of the case.
Finally, when switching attorneys and receiving pre-settlement funding it is important to understand the implications and understand the process. Pre-settlement funding is a complex process and making the wrong decision can significantly impact the outcome of the case. That being said, when all the steps are taken and the considerations are made, changing attorneys while receiving pre-settlement funding is certainly a viable option.
