Sergeant Joe Friday, the dedicated Los Angeles police detective from the TV crime drama Dragnet, is know for the catchphrase “Just the facts, ma’am”. Clients want the same – “just the facts” of the case – when reviewing a lawsuit funding application.
Most plaintiffs involved in lawsuits are not familiar with lawsuit funding, a cash advance against their pending claim to help pay bills and avoid debt during the lengthy litigation process. Therefore, Lawsuit Financial is providing “just the facts” every plaintiff must know before determining if lawsuit funding is right for their case.
1. Lawsuit funding is NOT a loan. The transaction with a legal funding company is on a non-recourse basis meaning that the cash advance is only repaid if, and when, the client receives a favorable cash settlement award. Repayment is made from the settlement award at the same time the proceeds of the claim are paid to the plaintiff. If the plaintiff loses their case, they do not repay the funded amount.