How Can Settlement Funding or Lawsuit Loans Help You?

Are you in this situation currently?

You’ve got a lawsuit pending and you are the plaintiff in that lawsuit; even though you’ve got a very good case, it may be a very long time before you reach settlement so that you can access the funds you have coming to you. If the case is being contested such that it might go to trial, it’ll be even longer before you’ll see any jury award. Your wait for your money isn’t necessarily over once the jury has decided in your favor, if you do go to court. That’s because the defendant or respondent can appeal any ruling, making your wait even longer. That’s where lawsuit loans, also known as settlement funding, can come in handy.

You’ll have access to some necessary money before your case settles or is decided by jury award

Lawsuit loans can be helpful to you because the companies that offer these “cash advances” can give you access to a portion of the money you’re likely to receive before your case is either settled or has finished with the trial process and results in a jury award. Most of these companies offer about 10% of the expected award upfront, so that you can take care of financial needs as necessary.

How do you qualify?

To qualify for settlement funding, contact one of the professional companies that offer these services and ask them to review your case – or have your lawyer do this for you if he/she believes a loan would be to your advantage. If the funding company believes your case has merit and is likely to be decided in your favor, they’ll lend you a portion of the future likely settlement or award, again usually about 10% of the expected amount.

Your lawyer must also agree to let you receive this kind of funding. He or she must also have been hired on a contingency basis, meaning that your lawyer receives no compensation unless you win your case.

Other considerations

The good news about lawsuit loans is that you don’t have to pay the money back to the lending company if you do not win your case. If you do win, the company will recover the amount of the loan, plus interest and fees.

There are no upfront or out-of-pocket expenses with lawsuit loans.  In addition, you will not be subject to credit or background checks, employment history or other information.  The only information required relates specifically to your lawsuit, so the process is simple.