Settled RAF matters but still waiting for payment?
Unlock a portion of your outstanding contingency fees while you wait for the Road Accident Fund to pay.
Your client’s Road Accident Fund claim has been finalised, but delays in RAF payment can mean your firm is still waiting to receive its contingency fees.
Prevance RAF Attorney Bridging Finance gives qualifying personal injury law firms access to a portion of their expected fees on finalised RAF matters before payment is received from the RAF.
Unlock cash tied up in your settled matters and put it back to work in your practice.
Unlock your fees sooner
- Short-term funding against fees due on finalised RAF matters
- Access a portion of your outstanding contingency fees
- Convert outstanding fees into immediate working capital
- Fast and straightforward assessment process
- No monthly repayments
- Funding is settled from the proceeds when the RAF pays
- Funding tailored to your firm’s portfolio of qualifying matters
Qualifying criteria
To qualify for RAF Attorney Bridging Finance:
- You must be a practising personal injury law firm
- The underlying RAF claim must have been finalised
- A settlement agreement or court order confirming the amount payable must be in place
- Payment from the RAF must still be outstanding
- Your firm must have an enforceable entitlement to fees from the matter
- The expected proceeds must be sufficient to repay the advance and agreed fees
Individual matters or a portfolio of qualifying settled matters may be considered.
All applications are subject to assessment and approval by Prevance.
Put your outstanding fees to work
RAF payment delays can leave significant value tied up in settled matters while your practice continues to carry day-to-day expenses and fund new cases.
RAF Attorney Bridging Finance can provide working capital to help your firm:
- Fund new and existing matters
- Pay medico-legal and other expert costs
- Cover salaries and operating expenses
- Invest in marketing and business development
- Manage short-term cash-flow requirements
- Take on new matters without waiting for existing matters to pay
- Grow your personal injury practice
How you deploy the working capital is up to you.