Legal Question in Civil Litigation in California

Do most civil attorneys have over $10,000 or over $50,000 of dollars in their own personal business accounts so they can cover the costs of litigating their cases when they agreed to contingency basis agreement?,... or do they get loans from the banks....And if the case is complex and will require over $75,000, do they get financial help from the State Bar or other institutions besides bank loans?


Asked on 10/20/14, 9:58 pm

1 Answer from Attorneys

Different attorneys fund their practices differently. Many have bank lines of credit that they draw on in anticipation of income and pay down when income comes in. Others fund their practices from cash reserves. The State Bar does not provide funding of any kind to private law practices. Other institutions such as the ACLU sometimes fund "impact" litigation. But mostly attorneys either work strictly on a monthly invoice for services rendered model, or they have cash reserves or lines of credit to fund income lulls between contingency pay-outs.

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Answered on 10/20/14, 11:20 pm


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