Lawsuit Financing is the process where a third party, usually a funding company, helps finance a litigant’s lawsuit case and other related costs. A funding company provides cash advances to litigants in exchange for a percentage in the settlement amount if the litigant wins. However, the funding companies will not receive any payment and money if the litigants lose their case.
Many litigants, who have undergone wrongful prosecution, have benefited with lawsuit funding. Since it finances all costs related to the case, plaintiffs are able to continue to fight for their rights until the end of the trial.
Kay Paschal is a lawyer that was involved in an argument with a Richland Country sheriff over a dead businessman’s multimillion dollar assets. Paschal was a “common law wife” of a businessman named David Wallace. In 2010, Wallace suffered a stroke and was incapacitated. Paschal cared for and tended to Wallace’s every needs until his death in 2011. After Wallace’s death, Paschal has a claim to his $6 million estate. She’s named the personal representative of his whole estate. However, Wallace’s two children petitioned the revocation of Paschal’s status as personal representative due to an alleged improper financial transaction . Wallace’s heirs brought this allegation to Richland County Deputy Lt. Heidi Scott.
Scott then approached Lexicon County sheriff’s investigator, Stephen Baumgardner to investigate the case. After evidences against Paschal proved her innocence, Scott then left her jurisdiction and took the matters into her own hands. She sought an arrest warrant for forgery and breach of trust in order to arrest Paschal.
Paschal was arrested in November 2011 and was sent to jail. She was only released on a personal bond. The trial for her case on January 2012 was dismissed because Scott’s case lacked probable cause.
However, because of her arrest on forgery and breach of trust , the S.C. Bar Association suspended her. She was banned from practicing her profession as a lawyer. In addition, her name was tarnished because the case was published in several local newspapers.
Helping People Who Need It The Most
Because of the damages to her reputation, Paschal filed charges of exploitation of a vulnerable adult against Richland County Sheriff Leon Lott. Since sheriffs are responsible for the actions of their subordinates under the S.C. law, Paschal won the case and was awarded $1.6 million in damages.
Paschal’s case took months before it was finalized. Without the proper assistance, she will not be able to push through with her fight. Lawsuit finance aims to help people like Kay Paschal. Without it, litigants may not be able to finance the cost of a court battle. Seeking justice is our right but it does not come cheap. If you want to fight for the truth, you should have the necessary resources to win it. A pre-settlement cash advance plays a role in cases like this because most people do not have the financial capacity to push through with their cases.
Assisting those in their time of need
Pegasus Funding is familiar with the challenges of being involved in a lawsuit, but to be falsely criminally charged, incarcerated and as result, lose your job and the ability to provide for your family. These unfortunate event occur in today’s society and levy extreme pressure to those adversely affected. This is usually a long drawn out process and during that time you could easily exhaust all your financial resources. If you have a victim of false arrest, or wrongful imprisonment, or were wrongful convicted. Then Pegasus can help, contact us today to find out more: