The Suit Magazine

Harvey Hirschfeld and his partner Dennis Shields may not have foreseen the housing crisis, but their entrepreneurial vision helped thousands survive financial hardships due to injury when banks froze lending. Ever since its inception in 2000, LawCash has been helping accident victims keep their cash flow stable while awaiting settlement.

LawCash specializes in providing advancements against pending settlements, helping people who are unable to work supplement their lost income. "We don't have anything to do with the attorney-client privilege; we provide money to help people cover their life needs while their case is pending," said Hirschfeld. “Our job is to give clients the staying power to allow their attorney to do his or her job, which is to get them the best settlement possible based upon the conditions."

Hirschfeld explained how a decrease in income due to injury often forces people into desperate situations. Facing foreclosure or eviction, many decide to settle prematurely for less than they deserve. "LawCash gives them another source. Instead of rushing into a settlement, they get an advance."

Emergency cash became harder to come by during the housing crisis. Banks tightened up their lending, and home equity disappeared. Additionally, people with otherwise good credit begin to see a drop in their FICO scores with their first late payment, making it nearly impossible to obtain much-needed credit.

“More people didn't have their bank or family and friends to fall back on," Hirschfeld explained. "LawCash is another means to allow them the time and the dignity to keep their attorney working on their case to get a fair and equitable settlement."

Hirschfeld takes pride in knowing LawCash upholds the highest ethical standards. He is proactive about seeing these standards implemented throughout the industry by acting as chairman of the American Legal Finance Association.

The power to help people weather financial storms has proven a worthy venture. "Most of what we do stops foreclosure or eviction," Hirschfeld said. He enjoys reading testimonials about how LawCash was able to help families stay afloat, how clients’ kids didn't have to quit college or get jobs to help make ends meet, and how victims didn't have to agree to decreased settlements out of necessity.

Hirschfeld recalls helping one client who had survived a tragic accident and was about to accept a small settlement in order to pay her mounting bills. With help from the LawCash team, she was able to wait for a fair final settlement of three times the initial offer. "She was so appreciative of our belief in her case that she offered to buy a car for my partner Dennis Shields. I told her, ‘There’s no need for a car. Just make it a hug!’ I guess I'm a terrible negotiator," Hirschfeld laughed. But in this case, he added, a client’s gratitude was all the reward they needed.

For more information, please visit: www.lawcash.net

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