About us – Miris Finance

Miris Finance is a lending company that offers a Cost Advance facility for law firms looking to advance monies owed against a settled case. We understand that reaching an acceptable offer from a defendant or insurer on a settled matter, can take many months. Being able to release cash locked in disbursements and WIP during that time has a clear cash-flow benefit to the law firm.

We provide the law firm with a loan facility; authorised solicitors can draw down against this facility up to an agreed percentage per case type. For example, up to 60% of the estimated bill for an HDR claim, or 70% for a UDC matter, never in total to exceed the facility.

Loans are accessed in a simple to use and stream-lined manner. Miris uses a proprietary cutting-edge IT system that integrates with Proclaim and other CRM platforms, seamlessly exchanging data and documents between solicitor, Miris and the cost firm. There is an extensive reporting suite for MI and all reports are fully customisable.

How does the process work?

The case file is sent to a cost firm who produces a draft bill of costs and uploads to the Miris platform. The solicitor can then choose to draw down up to an agreed percentage of this bill, the money paid straight to their designated bank account. At this point, Miris takes an assignment over the case as security for the loan, although all negotiations and decisions to accept an offer stay with the solicitor and cost firm.

Once the bill has settled, Miris receives the settlement monies and then transfers the balance to the solicitor.

Miris commercial rates for Cost Advance are highly competitive.