Litigation Funding: A Means to Financially Withstand a Long Litigation Process
Thousands of innocent victims are injured or die due to the negligence of someone else. These unfortunate events can result from an auto accident, medical malpractice, slip and fall, or product liability.
Many plaintiffs who have been severely injured due to no fault of their own, can be financially devastated and unable to work for weeks, months, even years; they will lack significant income during their recovery period. Sadly, these victims normally lack the credit history and/or employment history to qualify for a traditional loan. Even if they could, conventional loans need monthly payments which can be a further burden to their situation.
With litigation funding, there are no upfront fees or monthly payments. Litigation funding is a feasible financial lifeline for many plaintiffs; it enables plaintiffs to pursue justice without putting their life on hold by sacrificing other essential financial responsibilities. Instead of worrying about finances, a plaintiff can focus on recovering from injuries while awaiting a trial verdict or settlement.
Sometimes called a “lawsuit loan,” litigation funding is a non-recourse cash advance based on the potential value of a pending lawsuit; it bridges the gap from the accident date to the settlement date. Unlike a traditional loan, litigation funding is not a loan in the true sense; it is a pre-settlement cash advance, as it is contingent upon the outcome of the case. The funding provider buys a piece of the future settlement proceeds of the lawsuit, contingent upon the future outcome of the case. Essentially, a plaintiff obtains money right now in exchange for a certain amount of any settlement or judgment received from the litigation.
A plaintiff can get access to the funds needed before receiving a settlement. Because a wealthy defense litigant – big business and insurance companies – can outspend the average citizen, lawsuit funding may be the only way to level the playing field. The only requirements when seeking lawsuit funding is to have an ongoing case and retain an attorney. Lawsuit funding helps achieve a larger settlement. Why? Because when a plaintiff is strapped for cash, he/she has a tendency to settle for less than the case value; accepting a low-ball offer from the insurance company. Lawsuit funding is the money needed now so a plaintiff can wait for the legal system to do its job. Lawsuit funding is not for everyone, but for many innocent victims it is the only hope to stay financially afloat while maintaining a fight for fair compensation.
If you have a legal claim, and an attorney representing you, you can apply for a lawsuit cash advance with Lawsuit Financial. Call us toll free, at 1-877-377-SUIT or visit us online for a free, no obligation. We will evaluate your case, and if approved, funding can be available within 24 – 48 hours.