You may have heard the term ‘lawsuit loans’ on television or seen it in newspapers and wondered about how it works. Unless you are a plaintiff involved in a personal injury lawsuit, you would really have no use for litigation funding. However, if you have been injured and are involved in a lawsuit, you will be very interested to know that lawsuit loans are simply a cash advance against the money you expect to be awarded in a lawsuit. In essence, if you qualify you can get a portion of your settlement now, when you need it most.
When you have been seriously injured, you may be unable to work. Between the added medical expenses and inability to work, bills can pile up and you simply cannot pay them all. It’s stressful, particularly when your injuries are not your own fault and your life has been turned upside down by someone who was negligent. Lawsuit loans help ease the stress by providing you with the money to pay your bills and live normally while waiting for your lawsuit to settle.
How does litigation funding work, and how do you know if you qualify?
Lawsuit loans are granted only to those who qualify, which is really determined on the details of your claim and whether it’s valid. For instance, frivolous lawsuits are not considered. Your attorney will gather the necessary information to submit to the funding company for its review. This information will include the nature of your injuries, how serious they are, medical reports, and the details of the accident or circumstances which caused your injury. If your claim is strong and will likely win, you will probably qualify.
Do you have to pay any money out of your own pocket?
No. With lawsuit loans, you only repay the loan along with any applicable fees and/or interest when you have won your lawsuit and have received compensation. There are no monthly payments, no up-front fees. If for any reason your attorney fails to win your lawsuit, you owe absolutely nothing to the litigation financing company.
How much of an advance can you get if you qualify?
Most company who specialize in lawsuit loans offer an advance of approximately 10% of your expected award. So, if your attorney determines that your case is valued at $350,000, you will likely be advanced about $35,000 if you qualify.
This type of funding is ideal for plaintiffs who find they’re facing financial issues while waiting for their lawsuit to settle, but it isn’t right for everyone. Learn more about litigation funding online, or discuss it further with your attorney to determine if it’s the right option for you.
When you hear the term ‘lawsuit loans,’ it’s natural to think that the process is actually related to a loan. Actually, it is a cash advance given against an expected lawsuit settlement to those who qualify. Essentially, if you have a strong case you may be eligible to receive a portion of your own money early, before your lawsuit completes.
Litigation financing has helped thousands of people pay their bills and live comfortably while waiting for a personal injury lawsuit to settle. Lawsuit loans make it possible to pay medical expenses and household bills, or to catch up on financial obligations so that you can avoid further financial issues or possible bankruptcy. In most cases, funding companies advance about 10% of an expected settlement.
Qualifying for lawsuit loans is easy, as long as you have a strong case. Litigation financing companies usually approve those whose cases are viable and likely to win, but do not accept frivolous or weak cases. The only information required from you and your attorney is that which is directly related to your injuries and the accident or circumstances that caused them. Whether you have bad credit or even no credit makes no difference. Employment verification or background checks are not necessary, either, as the funding company will recoup its money if you do win your lawsuit.
Lawsuit loans are a good solution for many personal injury plaintiffs who need money, simply because there are no up-front costs or fees to make an already difficult financial situation worse. You never repay a dime until you win your case and have control of your money. At that time you will repay the litigation financing company the amount of the advance, as well as any applicable fees or interest. The remaining money is yours to do with whatever you please. In the event you are not successful in winning your lawsuit, you owe nothing.
The process of applying is quick and easy, and if you qualify you can expect to have the money you need in as little as 24 hours. For many who have suffered injuries caused by negligence, settling for what the insurance company offers will not do; however, proceeding forth with a lawsuit is costly. Lawsuit loans allow you to level the playing field, so that you are not forced to accept a low-ball offer from the insurance company and can live normally while your attorney fights for the full compensation you deserve.
Are you the victim in a legitimate personal injury case? Even though you are in the process of getting justice for what you’ve gone through so that you can have the financial resources to take care of yourself and your family as you recover, you’re probably struggling to pay bills and make ends meet right now. You may not be able to work anymore as a result of your injuries, and you may find that you can’t pay for everything you need to, including medical expenses that have cropped up as a result of the treatment you’ve needed and the expenses of everyday life.
Your settlement will take care of that, of course, once it comes through, but what you do before that day comes? Fortunately, there’s a type of funding called settlement loans that can help you make ends meet until your settlement or jury award is finalized.
How can these loans help you?
* They give you financial assistance until your settlement comes through
Settlement loans in effect lend you a given amount based upon your expected settlement or jury award amount. This loan is meant to tide you over until settlement is reached and the monies can be disbursed. Once you have received monies from your settlement, you pay back the litigation funding giving you through settlement loans, plus fees and interest. Usually, the amount of money you receive in the settlement loan is about 10% of your expected jury award or settlement.
* You don’t have to pay the money back if you don’t win your case
Companies that specialize in these settlement loans review your application carefully to determine if you’re eligible. If your case is very likely to settle in your favor, you’ll likely be approved for the loan. However, on the off chance you would don’t win your case, you don’t have to pay back the loan you’ve gotten from the settlement loan company. Instead, you simply walk away free and clear, and rebuild your life after injury.
* Things to keep in mind
With this type of litigation funding, your attorney has to sign off on your settlement loan application, in that he or she has to think it’s a good idea for you to apply for this loan. Your attorney will also have to be hired on contingency, which simply means he or she won’t be paid if you don’t win your case. These things provide reassurance to the lending company that your case is indeed valid.
Pre-settlement funding is a process in which a plaintiff who has been injured and is involved in a personal injury lawsuit may qualify to get an advance (usually about 10%) against a pending or expected settlement. Personal injury cases are widely known for taking months to settle; in the meantime, those who are the victims often suffer financially due to medical costs, the inability to work, and the fact that their lives have been turned upside down.
Litigation financing companies make it possible for individuals who qualify to get a portion of their expected settlement almost immediately. To qualify for pre-settlement funding, you must have a strong lawsuit. That is basically the only requirement, as it makes no difference if you have bad credit or are not currently employed. In order to learn if you qualify, your lawyer will provide the litigation funding company with information regarding the accident or situation that left you injured, and medical reports and other information regarding the seriousness of the injuries you sustained.
With pre-settlement funding you can have an advance on your pending claim usually within 24 hours if you qualify. This money may be used to pay medical and household bills, to buy groceries, even to pay attorney fees. Essentially, you can live without financial stress and pay the bills while waiting for your lawsuit to settle. This money can also help your attorney have the financial resources he or she needs to build a strong, effective case on your behalf.
Do you repay the litigation funding company, and how does it work? Yes, you will repay the funding company, but only when your case has been won and you have access to your money. There are no monthly payments or upfront costs to put you further in debt. You only repay the money when you actually have it. Pre-settlement funding is a process that is no-recourse, which simply means that if you lose your lawsuit, you do not repay the advance or any associated fees and/or interest.
Your attorney can help determine if pre-settlement funding may be a good option for you. Personal injury lawyers are very familiar with litigation funding and how it works, so you may want to discuss the process with your attorney. There is also plenty of information available online to help you better understand how it works. This type of loan can help you avoid financial distress, and possibly even bankruptcy by giving you the money you need immediately.
Pre-settlement funding is simply a process in which an injured victim who qualifies may get an advance on a pending personal injury lawsuit settlement. If you qualify for litigation financing, the money you receive can be used to pay household bills, medical costs, to buy groceries, for attorney fees and more.
Personal injury plaintiffs often face a very difficult situation financially; between medical costs and lost wages, it can become nearly impossible to pay the bills and meet financial obligations. This is where an advance comes in handy, and can possibly prevent foreclosure or bankruptcy.
How much of an advance can you get if you qualify for pre-settlement funding? In most cases, about 10% of what you expect to win in your lawsuit. For instance, if your attorney filed a lawsuit for $375,000, you can expect an advance of about $37,500 if approved for an advance.
What does it take to get approved? Your lawyer will submit the necessary information to the litigation financing company regarding the lawsuit, how your injuries occurred, and the seriousness of those injuries. Most applicants who have strong cases which are likely to be won do qualify. Frivolous or “weak” cases are not accepted. In addition, it makes no difference if you have bad credit or no credit. Litigation funding companies are interested only in the validity of your claim, not your background record or employment status.
How do you repay the advance? Pre-settlement funding is a process which is no recourse, which means that you only repay the advance and applicable fees and/or interest if you do win your lawsuit. If you do not, you owe nothing. You will only repay the funding company at the time your lawsuit is won and you have your money in hand, so there are no monthly payments to worry about.
There are no up-front costs or out-of-pocket expenses with pre-settlement funding, and you can get the money you need almost immediately if you qualify. In essence, you are simply “borrowing” against your own money. Once you repay the litigation financing company the amount that was advanced to you plus fees and interest, what remains is yours.
Pre-settlement funding makes it possible to live comfortably and keep creditors from hounding you while you wait for your lawsuit to reach completion. Your attorney knows all about this process, so discuss the benefits and whether it would be a good option for you today. You could have the money you need by tomorrow!
You may have heard of settlement loans, particularly if you are the plaintiff in a personal injury lawsuit. The name is a little misleading, considering this type of litigation funding is actually not a loan at all, but a cash advance given against a pending lawsuit settlement to those who are approved. Essentially, if you qualify you are getting a percentage of your own money, that which you expect to be awarded in your lawsuit. So, how does it work?
Basically, the litigation funding company must approve settlement loans, which is easily accomplished. If you are the victim of negligent circumstances and have suffered legitimate injuries, chances are you will qualify. Settlement loans are not given for lawsuits which are considered frivolous; however, if your case is a legitimate one which is likely to win, you will likely qualify. You and your attorney will submit the required information to the funding company, which will include the details of your injuries and the accident or circumstances which caused them. Personal information such as credit rating, employment history or status, and criminal background will not be required.
Once the litigation funding company has all of the information for review, it will be determined whether you qualify quickly. With settlement loans, you can expect to get the money you need to pay household bills, medical expenses, attorney fees, and more within 24 hours of approval. In most cases, the financing company will advance about 10% of your expected settlement, so if your attorney valued your claim at $237,000, you can expect an advance of about $23,000 to $24,000.
Most personal injury plaintiffs find themselves in a financial bind because of their injuries, related medical costs, and inability to work. You will not be asked to pay any fees up-front with settlement loans, and there are no out-of-pocket expenses to make a bad financial situation worse. Repaying the loan is simple; you repay the litigation funding company only when your lawsuit has been won, and you have your money. Any interest and/or fees which apply will be paid at that time as well. If for any reason you fail to win your lawsuit, you will not repay the funding company, as settlement loans are no-recourse.
Settlement loans make it possible for those involved in personal injury lawsuits to get the money they desperately need quickly, without putting themselves at financial risk. If you are the plaintiff in an injury lawsuit, speak with your attorney about this type of funding to learn if it may be a suitable option for you.
Are you the plaintiff in a personal injury lawsuit who was injured because of someone else’s negligence? If you are facing financial issues, you may want to consider personal injury loans. It’s very common for those who are injured to find they cannot pay the bills and meet other financial obligations; after all, medical costs related to injuries and being unable to work can take quite a toll on finances. How can you possibly live as you once did and keep the creditors off of your doorstep while waiting for your lawsuit to settle? Litigation funding is one solution that’s a good option for many.
Personal injury loans (also referred to as litigation funding) are really a cash advance given to plaintiffs who qualify. Not a loan at all, plaintiffs who have a strong case and who are approved may be able to get about 10% of their total settlement now, to pay household bills, buy groceries, and take care of other obligations. Qualifying is relatively easy, as long as your case is viable and will likely win in court. However, if your lawsuit is found to be frivolous, you will not be approved for an advance.
How can you repay an advance when you’re already having financial difficulties? With personal injury loans, there are no monthly payments, upfront fees or other out-of-pocket expenses to worry about. If you are approved and get an advance, you only repay the litigation funding company after your lawsuit has been won and you have been awarded compensation. At that time you will repay the advance, along with any fees and interest that may apply. If your attorney is unsuccessful in winning your lawsuit, you owe nothing at all – you do not repay the advance, fees, or interest.
But I have bad credit, how could I qualify for an advance? With personal injury loans it makes no difference whether you have excellent credit, bad credit, or no credit at all. The funding company will request information that your attorney will provide. This information pertains only to the accident or circumstances which caused your injuries, and the extent of the injuries. You will not be required to provide personal information such as employment history, criminal background, credit info, etc.
How quickly can I get an advance if I do qualify? In most cases you will get your advance within 24 hours, so there is no waiting for days or weeks when you need money immediately. Personal injury loans are one of the quickest ways to get the money you need right now, and without putting yourself at risk since you will not be responsible for repaying the advance if you do not win your lawsuit.
Find out more about litigation funding online, or ask your lawyer a few questions so that you can decide if it sounds like a good option for your circumstances.
Settlement loans aren’t really loans at all, but an advance given against an expected lawsuit settlement to someone who has been injured because of negligence. If you are not familiar with litigation funding and find that you are having a tough time financially while waiting for your lawsuit to complete, you will be interested in the following information.
Injured victims often face tough financial issues, particularly considering medical costs and lost income due to your inability to work or time spent in the courtroom. Settlement loans make it possible for you to pay the bills while you are involved in a personal injury lawsuit, which often take months or even longer to reach conclusion. This money may be used to pay medical or household bills, buy groceries, even pay attorney fees so that your lawyer can present the strongest possible case on your behalf.
Does every individual qualify for an advance? No. With settlement loans, you must have a strong case, not one that would appear to be frivolous or simply an attempt to collect money you do not deserve. Litigation funding companies want to know that the case is solid; this increases the odds that the company will be able to recoup the money advanced to the injured victim upon settlement.
If your case is strong and you are approved, you will receive your advance within 24 hours. The process and approval are easy; your attorney will gather the necessary information which includes that related to your injuries and the accident or circumstances which caused them. No credit checks, no background checks, no employment verification. Only the facts surrounding your case.
Settlement loans are also no-recourse, which simply means that if for any reason your lawsuit is not won, you do not repay the advance to the litigation funding company. This way you are at no risk financially, and do not end up owing money that you do not have. You will only repay the advance along with any fees and interest that apply if you do in fact win your lawsuit.
How much will your advance be? It depends on the value of your claim. For example, if you and your attorney are suing the defendant for $250,000, you will likely receive a settlement loan of about $25,000, or 10%. This is the percentage most often given to injury victims against a pending lawsuit settlement.
Litigation funding can be a lifesaver, helping you live comfortably while waiting to get the compensation you deserve. Is it for you? Ask your attorney about the benefits of settlement loans, and whether this is a process you should consider.
Lawsuit loans have been a good solution for many plaintiffs in personal injury lawsuits who find they are in a financial bind. When you are injured because of someone else’s negligence, it can seriously upset your life – including your ability to work. It often becomes hard to pay the bills and meet other financial obligations; this is what settlement funding is for. So, how does it work?
Rather than an actual loan, lawsuit loans are more of a cash advance against the settlement you expect to be awarded in your lawsuit. It’s your own money, you are simply getting access to a portion (usually about 10%) of it early. If approved, you can have the money you need in about 24 hours.
How do you get approved for lawsuit loans? It’s actually very easy, even if you have no credit or bad credit. With settlement funding, you are not asked to give personal information such as credit rating, employment status, etc. Your attorney will submit the required information, which includes how the accident or circumstances that resulted in your injuries occurred, and details on the injuries themselves. The funding company simply wants to ensure that your case is strong, and valid. Today, many people are money “hungry” and will sue at the drop of a hat. The company wants to ensure that yours is not a frivolous lawsuit.
Repayment of lawsuit loans. Unlike conventional loans where you typically make monthly payments, you only repay the settlement funding company when you actually get your money. You will also pay any fees or interest at this time, so there are never any out-of-pocket expenses. If for any reason you do not win your lawsuit, you will not repay the loan. You are never at any financial risk during the process.
Essentially, lawsuit loans allow you to pay the household bills, medical expenses, and other costs so that you can avoid potential bankruptcy or foreclosure while waiting for your lawsuit to settle. You will also have the money to help your attorney develop a strong lawsuit, increasing your chances of winning.
Personal injury lawsuits are notorious for taking months to complete; in the meantime, plaintiffs often find they are going broke. Settlement funding may help you prevent facing serious financial issues; speak to your attorney about whether it may be a good option for you today, or learn more about the process online.
Personal injury loans are not really loans, but a cash advance given to those who are involved in an injury lawsuit and qualify. If you are the plaintiff who suffered injuries in an accident or under circumstances caused by negligence or malicious conduct, you may be eligible for litigation funding. Essentially, you will be able to pay the bills or catch up on financial obligations so that you can avoid money worries while awaiting settlement.
Do all applicants qualify for personal injury loans? No, but most do as long as they have a strong, viable lawsuit – one with a good chance of winning. Litigation funding companies do not approve frivolous lawsuits, simply because the odds are high they will not get their money back. However, if your attorney took your case on a contingency fee basis, it’s likely you have a strong case, and that you will qualify for a loan.
Do personal injury loans have to be repaid on a monthly basis? No. If you are given an advance against your pending settlement, there will be no monthly payments or out-of-pocket expenses. You repay the loan along with any fees or interest that apply only when you have recovered an award and have your money. Otherwise, such as if you lose your lawsuit, you owe absolutely nothing.
How long does the process take, and what is involved? With personal injury loans, the entire process of applying and learning if you are approved is extremely quick. Your lawyer will submit the details regarding the accident or circumstances that led to your injuries, along with information about those injuries. It is not necessary to include background information such as employment history, credit rating, etc. The litigation funding company is only interested in your lawsuit, nothing else. Usually, the entire process from applying to approval and getting your advance takes only 24 hours or less.
Personal injury loans make it possible for the injured party to pay medical bills, household expenses and other costs while involved in an ongoing lawsuit. Many plaintiffs find this to be a very stressful time financially, especially when they cannot work. Litigation funding alleviates this stress, and makes it possible for you to live as you normally would while your attorney fights for justice.
This type of funding isn’t right for every situation, but many have found it to be the solution to their money problems. Discuss the options with your attorney, who can advise you if it may be right for you.
Next Page »