With over $200 Billion in lawsuits estimated to be filed every year, and a Court
System and legal process that can sometimes take months or years to settle,
pre-settlement lawsuit cash advances are an option that can help you pay your
bills, cover medical expenses or make repairs that aren’t covered by your
insurance.
Here are 5 things you should know about lawsuit
funding.
NON-RECOURSE LOANS
Non-Recourse lawsuit loans
don’t require credit checks, employment verification or any sort of collateral
and usually can be approved within 48-72 hours. The funding process is a zero
risk proposition. The plaintiff doesn’t have to repay the loan until the case is
settled, so there are no monthly payments. Because it is a “non-recourse loan”,
if the case doesn’t settle you don’t have to repay the loan.
48-72
HOUR FUNDING PROCESS
Most lawsuit funding companies can have your
funding approved within 48-72 hours of your application and a check on it’s way
to you. The lawsuit funding process is pretty simple:
Step
1
Complete an online form, for example: http://www.fundmysuit.com/lawsuit-loans.html,
with basic contact information for you and your attorney and the amount you are
seeking. A funding representative will call promptly to get some more specific
information about your case and begin the official application
process.
Step 2
With your approval they will request official
documentation on your case from your attorney to forward to their underwriters.
Once received by the underwriters they will quickly determine your funding
amount.
Step 3
Contracts will be drawn up between you, your
attorney, and the underwriters involving the payment terms of the cash advance.
Once executed, funds will be sent directly to you within 24-48
hours.
TYPES OF CASES FUNDED
There are many types of cases
that can be funded. Car accidents, medical malpractice, elder abuse,
pharmaceutical suits, slip and fall, product liability, labor law, Workman’s
Compensation, sexual harassment, assault, and lawsuits involving large
corporations are all examples of the types of cases that can be funded with a settlement cash
advance.
FLEXIBLE LOAN AMOUNTS
Most lawsuit funding
companies will provide you with a settlement cash advance as small at $1,000 and
up to $100,000. You may also take several cash advances against the same pending
lawsuit as your needs arise. In addition, if you have a case that has already
settled, but are awaiting payments or on a schedule, you can also receive a
settlement cash advance against the full amount or the payment schedule. It’s
your settlement after all and your lawsuit funding broker can work with you to
accommodate your litigation financing needs.
If you have a pending
lawsuit and have financial needs such as medical bills, repairs, or just are in
a spot you need funds now, lawsuit funding provides a fast, efficient and cost
effective way to get the cash you need now while you wait for the court system
to run its course.
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