In this multiple vehicle automobile accident case, a car hit a tractor trailer, veered straight across the median and slammed into two other cars. One person was killed; the estate of the deceased filed a lawsuit, arguing that the 18-wheeler’s driver knew that his brakes were faulty. It was a tough case to prove and the jury did not buy the plaintiff’s arguments. They assessed liability on the deceased driver, who started the chain accident in the first place. In other words, this case was decided for the defense.
If the family of the deceased had chosen to apply for pre-settlement funding, they would have had some measure of recovery, a small victory, if you will. That’s because in cases like this, where the jury finds for the defense, and lawsuit funding was provided, the plaintiff keeps the money and the company that advanced the funds against the case is the loser. That is the risk that a legal finance company takes. In other words, even though the plaintiff lost the case, the lawsuit cash advance would be the plaintiff’s to keep, free and clear.
Litigation funding is often provided to cash strapped plaintiffs who are faced with significant debt resulting from increased medical expenses and lost time from work. It is difficult to make ends meet when you are disabled, have no money coming in, and settlement of your case is months, sometimes years away. Many victims in this situation have nowhere to turn to pay their bills, even if health insurance covers some of the medical expenses.
“Lawsuit loans” (as some people erroneously refer to these transactions) are easy to apply for. Approval is based on the quality of and expected length of time a case will take to resolve. If the plaintiff is approved, he/she will receive their lawsuit cash advance within 24-48 hours. Pay those important bills, relieve your financial anxiety and then sit back, relax, and wait patiently for a fair outcome to the litigation. Let your experienced personal injury attorney work his/her magic.
It costs nothing to apply for litigation funding. There are no fees of any kind and no monthly payments to make to the legal finance company. You apply, you get approved, you get your money and you are set to get back on your feet financially. And, again, if you lose, you keep the money, free and clear. This is no-risk lawsuit financing.