There are several reasons why lawsuit funding can be denied on a personal injury case. First, the case may not be strong enough for the risk the funding company is taking when investing in the case. Legal funding companies are taking major risks when they invest in a personal injury case. This risk is so great because the company only gets paid back if the case gets a settlement. Thus, every time a legal funding company invests in a case that does not get a settlement, the company loses money. So, legal funding companies have to invest only in cases they think are going to settle. However, if your case was denied and there was a new development after the denial, call Pegasus Legal Funding to see if you are now eligible to be approved.
Although it is rare, sometimes even strong cases will be denied. There are a couple reasons why a case may be denied even if there is a strong likelihood the case will reach a settlement. First, the defendant may not have money to pay the settlement. Although getting a court ordered settlement is great, it does little good if the defendant does not have the money to pay the plaintiff. If the defendant does not have money to pay the plaintiff, the legal funding company is not going to get paid. Thus, legal funding companies do not invest in cases where the defendant is insolvent. However, if you have discovered that the defendant has assets that were not known when you were denied, call Pegasus Legal Funding to see if this could change the status of your case.
Further, approving a case requires the attorney’s cooperation. If the attorney will not provide the necessary documentation for the case, the legal funding company will not be able to approve the case. The legal funding company must have evidence that the case is worth the investment. If your attorney will not cooperate with the legal funding process, give Pegasus Legal Funding a call. We can recommend an attorney that will comply with your wishes.
Pegasus Legal Funding does its best to help as many personal injury plaintiffs as possible. If you have been denied and have information that could change the case to an approval, give Pegasus Legal Funding a call.
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. 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. 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:.
Tiffany Sherrill is a paralegal at Pegasus Legal Funding, LLC. Recently Tiffany was the assistant to the General Counsel at PLF with a focus on contract and financial aspects of Litigation Funding. Tiffany is also continuing here education pursuing a Juris Doctor degree.