Many victims of negligent accidents don’t have the financial resources to pay medical bills, household expenses, the mortgage, and other costs when involved in an often long and drawn-out personal injury case. Should you just settle for whatever the responsible party offers, even when it’s far less than the actual value of your case? No. Litigation funding helps you meet your financial obligations while your attorney fights to win the full damages you’re entitled to, even if it takes months or years.
How Much Does Litigation Financing Cost?
The cost of litigation financing varies. This is typically based on the complexity of your litigation financing services and chances of winning. However, shopping around is always a great idea!
Even though you were not at fault in the accident and are an innocent victim, the costs of serious injuries can be much more far-reaching than you ever imagined. When you cannot work and medical bills keep flooding in, how can you possibly handle it all? Lawsuit loans (another term for this type of non-recourse funding) can keep you financially afloat while you continue fighting for the justice you deserve. Never settle for pennies on the dollar to what you actually deserve!
How does litigation financing work?
Litigation financing is a simple process, and you can have the money you need to survive during the process of your lawsuit within a day or less. The application process is simple, you need to submit some case basic information and if more info is needed – you will be notified.
Does litigation financing require good credit?
In many instances, good credit is not needed for litigation financing. However, if your case is very high risk – personal credit could become an option to help with approval.
Typically you do not need to worry. This type of funding is based on how solid your lawsuit is, and whether it’s likely you will win. You will not be required to provide information about your credit, employment, or any other personal data.
What is required is that you have an injury lawyer representing you in a personal injury lawsuit. Why is this a requirement? Most personal injury attorneys do not take on cases that are weak, as they work on a contingency basis – meaning they only get paid if you win. The fact that you have a lawyer representing you is proof that your case is not frivolous, and will likely be won in court.
Will you have to repay the advance monthly, and are there any advance costs or fees? Absolutely not. There are no upfront costs, and you only repay the advance when your lawsuit is complete and you have recovered the full damages you deserve. If for any reason you do not win your lawsuit, you owe absolutely nothing, as litigation financing is a non-recourse type of funding.
Is litigation financing a high risk form of financial advance?
Ultimately, litigation financing are a no-risk type of funding that help you avoid giving up and settling for far less than you deserve from those who were negligent. If you qualify for an advance against your pending settlement, you will have the cash you need almost immediately so that you can pay all of the bills that are piling up while still fighting for the full compensation you’re entitled to. In most cases, funding companies advance those who are eligible about 10% of their anticipated settlement.
Why give in or give up, when you don’t have to? At AddisonPSF, we provide funding to those who don’t want to take a low-ball settlement out of desperation to meet financial obligations. Talk with your lawyer about the process, or browse our website to learn more. You can contact us today for a fast pre-settlement funding evaluation.