If you are involved in a lawsuit, or want to file one but don’t have the money, you may want to consider pre-settlement funding. These companies offer advances to plaintiffs specifically for the purpose of using the money for household bills and other expenses for the duration of your case.
Litigation funding companies often provide funds for both attorneys and plaintiffs. The cash advance you receive if you are approved is not a loan, and you do not make monthly payments. This advance is paid back in the event that you win your case. If you don’t win, you are not responsible for repaying the advance. These companies are completely aware that this can happen, and it is a chance they take.
Pre-settlement funding companies & Lenders will request documentation about your case from you or your attorney. At this point, they will carefully review the information to decide if your case merits a cash advance. This is normally a very quick process, usually taking only a day or two. Settlement funding companies can judge fairly well from the documentation if a plaintiff will win their case.
In many cases, someone is injured in an accident and may not be able to work. If their budget is tight to begin with, this only adds to the stress. Litigation funding provides a way for someone who would otherwise not be able to afford to file a lawsuit to seek justice and get the compensation they deserve.
What can you use the money you receive from a settlement funding company for? Household bills, medical expenses, car payments, groceries – nearly any legitimate expense. Frequently, a lawsuit can stretch out over months or even years, which can make it extremely difficult on a plaintiff financially. Pre-settlement funding helps ease the financial strain as well as the stress this can cause.
The most common types of lawsuits filed where plaintiffs need help financially include personal injury, product liability, medical malpractice and automobile accidents. Sometimes a defendant will prolong the case in an attempt to get the plaintiff to settle for less money. This is especially true if the defendant is a large corporation with deep pockets. Lawsuit funding is frequently needed in these cases to enable the plaintiff to see their case through to the end.
It is sad but true – many people deserve justice and compensation for the mental anguish and injuries they have suffered because of the actions of someone else. However, some of these never file a lawsuit, because they feel they simply cannot afford to. If this is you, consult with an attorney at once, and learn how pre-settlement funding may be the solution to your problem.