Legal funding is not a loan. If you took out a loan to pay for living expenses until you received your settlement, you would have to pay it back even if you lost your case. However, pre-settlement funding with Pegasus Legal Funding has to be paid back only if you win your lawsuit. Thus, legal funding removes the risk of borrowing money you cannot pay back. However, this puts the risk on the legal funding company. If a client does not get a settlement, the legal funding company loses the money they advanced to the client.
Pegasus Legal Funding thoroughly evaluates every case it funds. That is why Pegasus Legal Funding is able to provide the lowest rates in the industry. However, lawsuits can be very unpredictable. Thus, every case that is funded comes with a risk that there will be no payoff. This is why legal funding companies have higher interest rates than many banks and other traditional lenders. Banks and traditional lenders know they are going to be paid back. Legal funding companies have no guarantee that they will get paid back. Thus, in order to operate, legal funding companies have to charge higher interest rates than most banks and traditional lenders. If they did not charge higher rates, they would go in debt as soon as they funded a case that did not get a settlement. Although the interest rates are higher, many personal injury victims find the rates are well worth the reduced risk that legal funding provides.
Pegasus Legal Funding has provided financial assistance to injury victims and their families for over fourteen years. There is no credit check and employment is not necessary. The only requirement to apply for litigation funding is a pending lawsuit with merit and a serious financial need. Pre-settlement funding services are provided to help plaintiffs so that they can effectively pay living expenses during litigation. And, because funding is provided on a non-recourse basis, if the plaintiff loses the case, there is no obligation to pay us back. If you have been seriously injured due to the negligence of someone else and need financial assistance, contact us today or complete our free, online application. Usually in a personal injury lawsuit, the settlement never takes place soon. You have to wait months or even years before you receive the settlement of your lawsuit! In similar situations pre settlement lawsuit funding can help immensely. If we approve your request, we could have your funds in as little as 24 hours. The process is really that simple.
.:About the author:.
James Sheridan is the Contracts Manager at Pegasus Legal Funding LLC and is responsible for the final stage of the funding approval process. James focus and priority is delivering to PLF’s clients the funds they need as quickly as possible