If only cases are quickly settled and resolved , the plaintiff wouldn’t experience too much financial difficulties. However, it is a given fact that lawsuits take years to be settled and only the people or companies who have enough financial resources and money can go through with it to the very end. A well-funded insurance company can take advantage of this situation until the plaintiff gives in to a smaller offer. The plaintiff usually accepts the offer for a small settlement because they couldn’t keep up with their everyday expenses and the bills are piling up as the litigation process drags on slowly. What you need is a reliable Legal Financial Solutions.
Get a Pre-Settlement Funding
In order to make it fair for the plaintiff and give them the financial support to stay afloat during the litigation process, they can apply for a lawsuit settlement funding. The only qualification that you need when getting a lawsuit cash advance is having an attorney and the case have merit. You will never pay any initial fee or upfront fee and no monthly payments . The only collateral is the expected settlement.
How It Works
The Legal funding companies invests in the case and the loan is always based upon the probable settlement amount. When the litigation process is finished and the settlement is done, clients can now repay the lawsuit funding companies along with the interest and other fees agreed upon. Remember that these lawsuit loans are non-recourse cash advance, which means it can only be repaid if the plaintiff wins the case and receives the settlement. If ever the plaintiff loses the case, he or she is not obligated to pay the funding company.
Is it Advisable to Get a Lawsuit Cash Advance?
It is very much recommended for people who are in need of financial assistance while they are waiting for the settlement of their case. If you are being offered a less than fair and lower compensation , you have to contact an experienced legal funding company that can help you stay afloat financially while your attorney negotiates for a much higher settlement amount.
What are the Cases that are Not Accepted by Legal Funding Companies?
Sometimes, the defendant does not have the money to pay for the settlement. If the lawsuit funding companies know that the defendant is financially unstable, it is possible that the case will not be accepted. Worker’s compensation cases are not usually funded by these litigation funding companies. The cases that are eligible for funding are medical malpractice, wrongful death and personal injury.
Do you want to know more about how legal funding works? Are you in need of cash and would like to apply?