Frequently Asked Questions
The following are answers to questions that we are commonly asked. These are provided for informational purposes only and are not part of, nor does it modify, amend, or supplement the terms of any Loan Agreement that you have with us.
Litigation Lending Australia (LLA) is a privately owned company based in Brisbane, Queensland.
LLA funds outlays for Personal Injuries and TPD claims. We partner with law firms to ensure they have the funding needed to to pay outlays on behalf of their clients.
- To Improve Cash Flow - significant working capital can be tied up in funding outlays for clients.
- To Invest in Business Growth Activities – firms use the working capital freed up by LLA to invest in growth areas such as marketing, technology and staff.
- To Save Time – the LLA system is fully automated and outlays are paid daily*, improving time management, efficiencies and productivity.
[*Payments processed Monday to Friday, excluding public holidays]
- Trusted - 20 years’ experience in financing and managing litigation lending facilities.
- Cost Effective - competitive interest rate and establishment fee.
- Easy to use – login at www.litigationlendingaustralia.com.au
- Keep fully informed – you can see at any time what outlays have been paid for your clients.
- Transparent – view interest accrued on outlays at any time.
LLA will pay any outlay that can be paid by EFT (electronic funds transfer). We do not place restrictions on which doctors or professionals you use and there is no minimum payment amount. If an outlay has been approved by you, we are happy to process it.
If you have outlays that can’t be paid by EFT, simply request (through our portal) a deposit of funds into your Trust Account to cover these outlays.
Outlays we will pay include expert consultant’s fees – e.g. accountants, safety engineers, specialists; court fees; process servers’ and agent’s fees; travel and accommodation; witness fees; search fees; inquiry fees; lodgment fees; all government revenue charges; transaction specific banking charges; clinical records from hospitals; medical experts’ reports and/or other external consultants; transcripts charges and so forth.
We do not fund professional fees or barristers’ fees.
The LLA system if fully automated and user friendly. Your staff can easily and quickly view the outlays that have been paid for your clients. A Transaction Report and Payout Statement are available for you to download at any time. The Payout Statement details total outlays paid and interest accrued to date – ready for when you need to attend a settlement conference. And if you like to be super organised, forecast the settlement date and view interest accrued to that date.
LLA is committed to providing funding at terms you will be comfortable passing on to your clients in full. Our interest rate and establishment fee arrangement is highly competitive and possibly the lowest in the market. We would be happy to discuss these with you in confidence.
When a matter is close to settlement, download a Payout Statement directly from the LLA portal – this will show you total outlays funded and interest accrued. You can forecast the Payout Date so that you have an accurate indication of the final amount due to LLA. Once the matter settles and you have received settlement monies into your Trust Account, we will issue a Tax Invoice (payable within 7 days).
As per the Loan Agreement that you sign with LLA (see below for more information), you are legally responsible to repay the outstanding amount (total outlays funded plus interest accrued) irrespective of the outcome of the matter. Our facility is not offered on a speculative basis.
The Loan Agreement sets out the basis on which we will fund outlays for you. In particular, it will detail the total facility approved, interest rate, establishment fee and term of the facility.
The Loan Agreement is between LLA and your Law Firm. It is NOT between LLA and your client. So you are legally responsible to repay the outstanding amount (total outlays funded plus interest accrued) irrespective of the outcome of the matter. Our facility is not offered on a speculative basis.
Your Law Firm would typically have a signed Costs Agreement and/or Disclosure Statement with your client that:
- Authorises your Law Firm to obtain funding from LLA in order to pay outlays.
- Authorises you to pay LLA the total amount of outlays plus interest accrued from settlement funds (upon the successful completion of the matter).
- Specifies that if the matter does not successfully conclude then they will not be responsible for repaying outlays or interest accrued.
Partnering with LLA not only makes good business sense, it is quick and easy to set up. Visit our Contact page to send us an email enquiry or give us a call on (07) 3230 1130. We will get in touch with you to discuss the limit you require and to fully explain how the system works. We will also ask you to complete a simple Facility Application form. If your facility is approved we will prepare and sign a Loan Agreement with you. The turnaround time is short so we can have you up and running in a matter of days.
Once you become a client of LLA, we will work with you to ensure you and your staff are confident using the system. You advise us of which staff you need to have access to the LLA system and their level of authorisation. Once staff are set up with their log-in details they can access the secure portal at www.litigationlendingaustralia.com.au
- Your staff enter the payments required.
- Payments submitted by 4pm will be processed that day*.
- If you have outlays that can’t be made by EFT, simply request (through our portal) a deposit of funds into your Trust Account to cover these outlays.
- At any time you can view the outlays that have been paid for your clients and the interest accrued.
[*Payments processed Monday to Friday, excluding public holidays]
The security of your information is important to us. We use Security Sockets Layer (SSL) technology to encrypt sensitive information before it is transferred over the Internet. You can verify this by looking for a closed lock icon in the address bar of your web browser, or looking for "https" at the beginning of the address of the web page. We follow generally accepted standards to protect the information submitted to us, both during transmission and once we receive it.
As the LLA system is simple and easy to use, we don’t expect you will run into many (if any) problems. Should you need assistance with something, our friendly staff are always happy to help. You can call us on (07) 3230 1130 or visit our Contact page to send us an email.
We would be very interested in continuing to assist your firm on its successful path. As in the initial stages, we would discuss with you your requirements and amend the Loan Agreement accordingly.