A legal fee loan isn’t right for everyone or every situation. Legal fee loans are ideal for those in situations where a clear settlement outcome is expected. In cases where there’s no clear expected outcome, or where clients are simply hoping for a positive outcome, a legal fee loan is generally not approved.
Legal fee loans cannot be used by people involved with disputes concerning only parenting matters. However, if you have a property settlement matter as well as a parenting matter, you may still be eligible.
There are a few general requirements you must meet in order to qualify:
- You must be involved with a family law matter
- There must be a property settlement component and a clear entitlement to some property division under the Family Law Act
- You must be able to provide some form of security against the loan
- You must be an Australian resident, with the majority of your assets in Australia
Keep in mind, Plenti is not an unsecured lender for family law loans. Our loans are usually secured against a house or property. In some instances, security may be difficult to obtain, as funds might be in a lawyer’s trust account, however, this is generally not an issue. In cases where there is no security available at all, a legal fee loan is unlikely to be approved. Plenti’s dedicated team will always work with your lawyer to explore all options that may be available.