Your Lawsuit Funding Options
Lawsuit funding has become something that is extremely popular. There are a number of reasons why lawsuit funding has become more popular now than ever. To start with, lawsuit funding has become popular because there have been more lawsuits than ever before. And in the past where insurance companies would make offers that were not fair to the plaintiff, legal funding leads to higher lawsuit awards.Where people used to take the time to make sure that things were done properly, and where they used to create sturdy products, now we are seeing more and more the people are getting injured or harmed due to negligence.
Another reason why lawsuit funding has become such a phenomena is because prior to lawsuit funding insurance companies would delay the legal process while making sub-standard settlement offers. Defense attorneys were proficient at being able to help their clients avoid paying fair settlement awards while delaying the legal process. They know how to stall cases and how to do everything possible to make sure that the plaintiff doesn’t get their hands on a settlement until the very last possible minute. This is causing plaintiffs to become desperate and to actually accept lower settlements than they have to, just to be able to get the money that they need to survive.
Lawsuit funding is something that has become popular because it works. When a person brings a lawsuit to court, they need to know that they will likely have to wait for a long time in order to get the funds that they’re trying to get. This type of funding is a financial arrangement that occurs between the plaintiff and a lender or an investment company. It is different from a loan because there are no monthly payments, but is instead paid back when the case is won.
Another thing that is very different about lawsuit funding is that, in cases where the plaintiff’s case does not win in court or receive a settlement, they do not have to pay back any funds that they have received from their funder. This is because these companies screen their clients very carefully in order to make sure that they only select plaintiffs who have a very good chance of winning their cases.
The Different Type
When you start researching lawsuit funding, you’ll learn that there are four different types of lawsuit funding that you can select from. Pre-settlement funding is given before a settlement has ever been decided upon. Structured settlement funding can be used to help plaintiffs to get money that they’re owed after a settlement has been agreed upon without having to receive the amount in small increments. Commercial litigation funding can help a plaintiff to go up against a large company by giving them the funds that they need to stay afloat, and there are also law firm advances.
In order to figure out which option is best for you, it is a good idea to contact Pegasus Legal Funding. They will help you to understand a bit more about lawsuit funding as well as helping you to select the right lawsuit funding option for you.
.: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