Don’t mistake a lawsuit loan with something that Pegasus Funding LLC provides. A lawsuit loan is like a traditional loan that you would get from a bank or credit union and requires a employment and credit background check. But what Pegasus Legal Funding offers is a non-recourse cash advance where the merits of your lawsuit is the collateral. It is not an instant cash advance that you can just take out whenever you want to. Instead, lawsuit funding is the type of cash that will go through an evaluation of your case before deciding to fund you. But apart from that, a legal funding is considered as a wise choice to aid your financial problem with some realistic things to expect for the results. What makes it different from a lawsuit loan is that unlike a loan which has to be paid back, a non-recourse cash advance is only repaid only when you’ve won your case. If you do not win, you keep the money and owe us nothing. So which is better, a lawsuit loan or a legal funding?
In lawsuit funding, the turnaround time is fast. However, to obtain one, it is not an instant flick of a switch. There are some elements that the company needs to approve before you can receive the funds. You need to fill out the application form and provide some data for the application process. Your attorney can assist in providing the documents necessary on your behalf. After all the data is collected, it will go through an underwriter to decide and calculate how much you deserve for the advanced settlement. An underwriter is an important person who decides if they should provide the funding or not. The underwriter can likely figure out whether your case can win or not. If they think your case will result in a settlement, you can have the lawsuit funding. It can be said that the approval of the funding is closely related to the decision of the underwriter. The process may take a long time but it usually takes no longer than a week. The length also depends on how fast your attorney or you can provide the legal documents and evidence. Once everything is in hand, it would be faster to examine each of the documents to find out if the case has a winning chance.
The essence of lawsuit funding is to get you the financial solution while your case is in litigation. It is not a settlement replacement but it is fast cash that you can use before the court wins your case. Don’t mistake the sum with the settlement you would likely receive from the case. The average amount that an individual can obtain from the funding company is usually $10,000. Lawsuit funding is still a great way to release you from financial problems because during the litigation, you may have bills and medical treatment to pay. The fund will really help you make it through the period of time until your case is resolved. You cannot obtain more for your own benefit because the idea of this fund is not to give you more than you should have but to provide you a means of paying your bills while the case continues in court.
Call us: 855-FUND-YOU / 855-386-3968
.: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