Licensed Lender in
Missouri and Illinois
compliant with law and state
ICF is a licensed finance company in the State of Missouri along with the State of Illinois and is subject to an annual regulatory examination. ICF has consistently received the highest rating from each State at the conclusion of each audit examination.
ICF has a Chapter 367 loan license in the State of Missouri which can be easily verified through the Missouri Division of Finance web site. You may also verify our loan license with the State of Illinois on their web site. With this license, the smallest loan that can be issued is $500, the maximum is contingent upon the individual case. As a licensed loan company, our documents fulfill all state and federal requirements including Regulation Z disclosures.
Our loans require no payment until a case is settled. Loans may be prepaid at any time.
Our underwriting guidelines are designed to ensure that a client receives a meaningful sum of cash when the case is finally settled. ICF will make every effort to ensure that a case does not result in an over extended award.
ICF does not participate in loans with other litigation funding entities. Our objective is to protect all of the parties related to the case and to avoid problems associated with a significant settlement shortfall.
ICF's practice is to ensure the attorney remains up to date. Authorization to discuss a case is confirmed to us in writing by the client. In addition, ICF has received confirmation from the Office of the Chief Disciplinary Counsel which specifies the attorney's ability to provide information to our company.
The information requested to process a request for a loan requires a nominal investment of the law firm's time.
Prior to the loan, an executed Receipt and Agreement is required. This is the only document that the attorney will be requested to execute. The law firm's only obligation to ICF is to fund our payment from the law firm trust account when the case is funded.
At the time a loan is provided to your client, an overview of the ICF loan document is provided. Our documents are compliant with the Truth and Lending statutes.
When ICF provides a loan, the law firm will receive a fax copy of supporting documents for the files.
As a case progresses, it is not uncommon for a client to request an additional advance. A supplemental advance may be considered every thirty days. It is our policy to contact the law firm to discuss the status of the case and the viability of a request.
At the end of each month, two statements of account are distributed. One is mailed to the client and a second statement is sent to the law firm via fax or email. The statement to the client is not a request for payment, although the client always has the option of making personal payments or even to pay off the note prior to the case settling. The law firm's statement lists each open loan by client. This report can ensure that funds are appropriately disbursed at the completion of the case.
At the end of each quarter we will send the law firm a faxed request for an update on each open case. The form is simple to complete and may be returned via fax.
When a case is settled, an exact payoff can be obtained by calling our office. The law firm will be provided a sum due through a specific future date. If the funding is delayed, a revised payoff will be provided.
When notes are paid, the paid documents are stamped accordingly and returned to the client.
An application may be tendered by simply calling our office or through our web site.
The ICF loan administrative technology is state of the art.