Resolution and Iceberg announce new family law finance product

News Release

04 Apr 2014

· New loans at preferential rates available exclusively to clients of Resolution members

· Service will open up access to legal advice for more separating couples

Resolution, the body representing 6,500 family law professionals in England and Wales, has joined forces with Iceberg Client Credit to offer members exclusive access to a new loan product, to help their clients fund their proceedings.

Announced in the inaugural speech of Resolution’s new Chair, Jo Edwards, this new service will provide the clients of Resolution members with access to an unsecured loan, at preferential rates, which is paid back after a case is settled.

Although other loan products are available to help fund proceedings, it is thought this is the first of its kind to be offered on such a scale, and is aimed chiefly at clients on low to medium incomes, who may not otherwise have access to finance until after the terms of their separation are finalised.

Historically, client loan products have been chiefly available for high value/high cost cases, so today’s announcement should help more people going through separation to access the legal advice and the support they need in order to resolve their disputes as quickly and – by using a Resolution member – with as little conflict as possible.

This announcement comes just over a year after the cuts to legal aid for the majority of family cases, which saw many people on low to middle incomes unable to afford legal advice, and is another example of how Resolution is helping its members supporting people in the post-LASPO environment.

The loans also support family lawyers, allowing them to support their clients without an adverse impact on their firms’ cashflow, and at minimal risk.

Speaking immediately after her speech to over 300 delegates today at Resolution’s National Conference, the organisation’s new Chair, Jo Edwards said,

“These are times of unprecedented change for family lawyers, and firms of all sizes are watching their cashflow more closely than ever.

“That’s why I’m delighted Resolution has partnered with Iceberg to offer this product, exclusively for our members to help clients pay for family legal services.

“This will help our members to help more people – something we’re all keen to do, but has become more challenging since the cuts to family legal aid just over a year ago.”

Nick Sanders, Partner at Iceberg Client Credit, said:

“We’re delighted to have been chosen by Resolution to provide this new product to their members. We believe this service will be hugely beneficial and attractive for those clients with a limited income, as they will have no application fees and the loan is unsecured, meaning there is no risk to any other assets they hold.

“It also means the risk to Resolution members is minimised, as they can insure against any shortfall in the settlement value as compared with costs. Plus the service will be straightforward to access, with each member provided with a dedicated secure online homepage to manage all aspects of their clients’ loans.”

For more information visit www.clientcredit.co.uk/resolution

To join Resolution, email info@resolution.org.uk or call 01689 820272

ENDS

Notes to editors

  • Resolution is a group of over 6,500 family lawyers and other professionals in England and Wales. It promotes a non-confrontational, constructive approach to resolving family disputes. To find out more, visit www.resolution.org.uk
  • Iceberg Client Credit LLP provides a credit facility to those people going through divorce proceedings to pay legal fees and disbursements. Its management team were previously responsible for the creation of legal expenses finance products within Barclays Bank Plc and
    establishing Wesleyan Key Business Finance. You can find out more at www.clientcredit.co.uk
  • Credit agreements are regulated under the Consumer Credit Act and as such, Resolution members promoting Client Credit need to hold the necessary CCA licence. Rather than holding an individual licence, firms are able to rely on an umbrella licence held by The Law Society/SRA.