Reaching a settlement in a personal injury lawsuit often takes years, and more often than not, leaving plaintiffs are unable to meet their financial obligations. Even paying for life necessities – food, shelter, utility bills – can become too much to bear, especially if the plaintiff is unable to work. Defendants’ are all too aware of this financial burden and will offer settlements far below a case’s actual worth. To avoid an unjust settlement offer, plaintiffs are turning to lawsuit funding for financial assistance.
Lawsuit funding is a no-risk cash advance against a pending claim. Not only does it help the plaintiff pay necessary bills and withstand prolonged litigation, but the cash advance provides time for the plaintiff’s attorney to pursue the claim to maximize recovery.
How is lawsuit funding no risk? The funding company only recoups the cash advance if the plaintiff prevails by securing a settlement. Should the plaintiff lose the case, the funding company receives nothing, not even the amount of the advance.
What are the monthly payments? Unlike a traditional bank loan, with pre-settlement lawsuit funding there are no monthly payments. The only payment is upon favorable case resolution and is paid directly from the lawsuit proceeds.
What is needed for approval? There is no need for employment verification or credit checks. Approval of lawsuit funding is based solely on the merits of the case, the likelihood of success, and the anticipated value of the case.
How does it work? A plaintiff with a personal injury applies for a lawsuit cash advance with a reputable legal finance company. Once the funding company reviews the application, if approved, a contract is drafted and executed. Funds will be available within 24 – 48 hours. The funding company will recoup its investment if, and only if, the client’s case successfully settles.
Lawsuit funding is not for everyone, but for those facing financial hardship, it can be very helpful. Rather than settling early – and for a far lesser amount due to monetary pressure – our legal funding services can help you catch up on unpaid bills and enjoy peace of mind until your case settles.