Call us today +44 (0)1722 417 065

RTA

Loans to acquire new RTA cases

Novitas, a MASS strategic partner, provides funding for law firms to  acquire RTA cases through the use of two schemes. Each scheme is a loan to the law firm so security is required.

Scheme 1. Provided in conjunction with BMS Funding. Novitas will provide the law firm a fixed sum of £600 per case. The admin fee and interest are paid by BMS Funding for the first 6 months so there is  no cost to the law firm during that period. After that there is a simple monthly interest payment until the case has settled, up to a maximum term of 18 months.

 

In Partnership with:

Scheme 2.  Novitas will advance both the stage 1 and stage 2 costs once liability has been admitted, bringing cash-flow forward many months. The law firm provides a portal screen shot to prove admitted liability and against that Novitas will advance the money. The law firm pays a small one- off admin fee per case and simple monthly interest until the case has settled, up to a maximum term of 18 months.

Key benefits

  • Improved cash-flow - money paid straight to law firm account
  • Simple administration - on-line system; just select case and the amount to draw
  • Fast payment - money received within 72 hrs from request
  • Flexible - funding provided as a facility, draw down on a client by client basis
  • Simple commercials – fixed admin fee per case, interest taken monthly