CRESSKILL, N.J., May 29, 2013 /PRNewswire/ -- RD Legal Funding, LLC ("RD Legal") continues to support the FealGood Foundation by donating $10,000 to help the organization in its mission to advocate for the 9/11 First Responders community. Since its inception in 2005, the FealGood Foundation has been active in promoting the health and needs of 9/11 First Responders.
RD Legal began its relationship with the organization in 2011 after Senior Vice President Joseph Genovesi talked to John Feal regarding difficulties many First Responders faced trying to access their awards from the New York City lawsuit. Up to that point, the claim awards due to many First Responders were delayed for years. RD Legal was able to accelerate payment of awards for numerous First Responders and since then has supported the FealGood Foundation.
RD Legal is primarily an attorney fee financing company that focuses on advancing funds on slow-paying legal receivables. However, it quickly became clear that First Responder funding was a logical extension of their origination and underwriting platforms. So in 2011, RD Legal extended its business model to accommodate the financial needs of 9/11 First Responders.
For over a decade, the First Responders community has contended with numerous difficulties including health concerns, the postponement of helpful legislation, and the premature death of many involved in the cleanup after the 9/11 attacks. The FealGood Foundation has advocated for the community and the passage of laws to mitigate these problems.
Popular support and increased media coverage brought awareness to the filibuster on the Zadroga bill, which received final Congressional approval on December 22nd, 2010. President Obama signed the James Zadroga 9/11 Health and Compensation Act shortly thereafter, which reopened the September 11th Victim Compensation Fund (VCF) for an additional 5 years.
Unfortunately, many First Responders are still experiencing delays in accessing their awards. Furthermore, the way the VCF is structured, first payments comprise only about 10% of the total award amount. The larger of the two payments will not be distributed until 2016, which creates a cash flow challenge for many First Responders with mounting expenses.
In addition to supporting the FealGood Foundation, RD Legal is positioned to help current Zadroga claimants access their awards quicker than they could otherwise by advancing a portion of their second payment. For more information about RD Legal's settlement funding solutions, please contact Joseph Genovesi, Senior Vice President of Business Development and Origination, at 1-800-565-5177, ext. 140, or visit LegalFunding.com.
SOURCE RD Legal Funding, LLC