Are you looking to retire, free up your working capital or just move away from Personal Injury.
If you are PCC can help. We deal with a number of solicitors practices who are looking to acquire Personal Injury files. Some of the firms advertise to purchase WIP, some don’t advertise, but have asked PCC to make introdfuctions for the right purchase that suits their requirements.
The first stage of the process is to have a discussion with PCC about your requirements. What is the make up of your WIP? How many files, what claims mix, how many admissions, disbursement arrangements etc. I will then be able to guide you towards the firm who is most likley to suit your requirements.
It’s a simple process. The solicitors will come to your offices and review the files you want to sell. They will then make you an offer in lieu of the Work In Progress on those files. In addition they may also be interested in taking on your Employees running those files including taking over the T.U.P.E liabilities. They may also be able to make a contribution to your Professional Indemnity premiums in relation to your files.
The value of any deal will always depend on the make up of your WIP. High value cases with admissions are clearly more valuable than Fast Track cases for example. Some firms will offer you a single lump transaction, others might want to offer you an earn out as the files setlle – or the right solution might be a mix of the two. It all depends on what your requirements are and what you want to achieve.
In terms of timescales, it shouldn’t take more than 2-3 months, end to end and could be considerably quicker than that.
If you are interested in selling all or part of your Personal Injury caseload, please contact PCC and we can discuss your requirements.