ME Funding & Support
The ME Funding division is proud to announce two of the largest legal funding entities in the United Kingdom have entered into an agreement with the ME Group to fund in excess of £500m, for the purchase of all ME Group products.
ME Group have also been able to arrange for an insurance provider to insure the products and services allowing for a totally transparent and ‘risk’-free model for the funders, the law firms and the ME Group itself.
ME LegalTech flagship products MARS and HART have quickly become market leaders with regard to market share. Along with the funding and insurance secured this means ME Funding stands strong within the group.
The majority of law firms throughout the United Kingdom have a number of major issues that stop them extending their client base and growing their firm.
Alongside continually tightening restrictions being applied to existing areas of law, firms are unsure where to turn when it comes to the trusted acquisition of new work.
The combination of low to no acquisition budget and tightening cashflow restraints coupled with a lack of marketing knowledge or expertise means that growing and sustaining new work can be exceptionally difficult.
There is also the fear that entering into a new legal or financial claim area without the knowledge or key skills to quantify a case can be seen as too large a risk.
Lastly if a new area fails, the cost, time and effort invested and the possible cashflow loss can also be seen as far too great of a risk.
The ‘ME’ Solution
What the ME Group has been able to create as a solution to each of the issues outlined above demonstrates how the different divisions of the Group each play a part in this unique innovation.
Firstly, ME Legal & Financial will generate an engaged client via their social media channels.
Secondly, ME LegalTech will create the detailed disbursement report that quantifies the redress to the client and establishes the liabilities alongside the redress.
Thirdly, only once the case and the full reports are created, to not only validate the claim but to calculate quantum, redress and liability, is the case sent to the law firm and billed.
Fourthly, once accepted by the law firm the invoice is sent to the ‘funder’ and is 100% funded with deferred interest. ME Funding will supply the firm with unlimited training and assistance with the matter in hand to assist the progression of the case.
Finally, if for whatever reason the claim itself fails to settle, a claim will be made on the Insurance to cover all costs incurred.