Whatever happened to the good old days when you settled a case with Allstate on Emmons Avenue for $75,000. Client comes in and executes the release and your messenger hand-delivers transmittal letter with release and stip. to Allstate and picks up check all in one "fell swoop". If you were lucky enough to get check on Monday or Tuesday, you would probably have money for Friday's payroll. Ah, the good old days!
Well no more. With all the craziness and uncertainty about the Medicare Resolution law, IT IS NOW TAKING LONGER THAN EVER to get clearance and ultimately the settlement funds. I have received more calls for funding from attorneys in the last 6 months; a result of the economy plus the Medicare delays. There is nothing to be ashamed of by requesting funding on cases[settled] which are taking 3-6 months to get paid, instead of the statutory 21 days.(see CPLR 5003(a). No one is a bottomless well.
If you have a situation where a delay in payment has occurred and a cash -flow issue exists, contact me and we can explore reasonable funding options.
Good luck.
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