Auto accident victims have a common question – how long will it take to settle my case? This is an obvious question because victims want to put the accident behind them, but also want compensation for their loss, sooner rather than later, especially if injuries meant the inability to return to work. Unfortunately, most insurance companies will deny, delay, and defend a claim. An experienced attorney will fight for the best settlement possible, but filing a lawsuit and waiting out the litigation process can take months, even years. Time is not on the plaintiff’s side, especially a cash-strapped one. With limited options to pay even their basic needs, plaintiffs may consider help from family or friends or max-out credit cards. Family and friends may be unable to provide the necessary cash and credit card companies still require monthly payments. That leaves a plaintiff with two choices – settle with the insurance company now, knowing it is a low settlement offer or apply for lawsuit funding.
What is lawsuit funding?
Lawsuit funding is a cash advance (not a lawsuit loan) provided to plaintiffs who are involved in pending litigation through no fault of their own and need financial assistance. It is based on the merits of the case – what the funding company thinks the case will ultimately settle for.
Who is eligible for funding?
Anyone who has filed a lawsuit and are represented by an attorney, or who has settled a lawsuit and awaiting payment, is eligible for lawsuit funding.
What can the cash advance be used for?
The money can be used any way the client would like, but it is recommended that funding be used for “emergency” needs, such as medical expenses, mortgage, car payments, putting food on the table, etc.
How much can a plaintiff receive?
The amount of funding received depends on the details of the case.
How is the cash advance repaid?
Repayment of the cash advance, with interest, is made once the case successfully settles. If the case is lost, repayment is waived in its entirety. Additionally, there are no monthly payments or upfront fees.
What is needed to apply for funding?
The only requirement to apply is completion of a one-page application by the plaintiff and case documentation from the plaintiff’s attorney. There is no need for a credit check or employment verification.
How long will it take to receive the cash advance?
Once application and case documentation is received, if approved, funds can be available in as little as 24 hours.
If you are in a pending personal injury lawsuit and don’t have the financial ability to wait out the litigation process, consider lawsuit funding to provide the financial relief you need.