Thursday, July 8, 2010
Lawsuit settlements funding is a cash advance on the expected settlement or verdict in a filed lawsuit. The funding is provided by a litigation finance company to help a plaintiff stay financially afloat while waiting for the final settlement or verdict in their case. Lawsuit settlement funding has become very popular in recent years due to the economic downturn. Plaintiffs can run out of funds or become financially stressed as a lawsuit grinds through the court system.
Here are some good reasons for seeking a lawsuit loan:
1. No risk: A lawsuit loan does not carry any risk for the plaintiff as funding provided is non-recourse funding which means if the lawsuit is not won by the plaintiff, there is no money paid to the funder.
2. Easy Application. Applying for lawsuit settlement funding is a fast and easy process. Reputable litigation finance companies should not charge upfront fees to apply. In addition, there should be no payments whatsoever until a settlement or verdict is reached.
2. No credit/Bad Credit: Unlike traditional bank loans, an applicant’s credit history or employment status have no bearing on the approval for a lawsuit settlement loan. Approval is based solely on the merits of the pending case, so no personal information such as credit history play into the approval.
3. Fast approval. Lawsuit settlement funding companies are good at what they do. They are well versed in understanding the pressures and burdens felt by plaintiffs. The process for applying for cash advance funding is speedy and approvals happen fast.
4. Money received quickly: When a plaintiff is approved for lawsuit settlement funding, money is sent immediately to the plaintiff. Funds can be wired the same day, or if preferred a bank check can be mailed to the plaintiff.
5. Free to spend: While it is prudent to budget and spend the money wisely, money received via lawsuit settlement funding is the plaintiff’s money, and no one can direct how or where the money is spent.
6. No monthly payments: Repayment of funds does not require monthly payments. Lawsuit settlement repayment only happens on or after the lawsuit is settled or a verdict is reached. If plaintiff loses case, the plaintiff is not required to payback any of the money received.
Lawsuit settlement funding gives plaintiffs the ability to stay the course and hold out for the largest settlement possible. As cases drag on and plaintiffs are pushed to settle their cases, this type of funding buys time and relieves financial pressures it is common for plaintiffs to settle too early. Lawsuit settlement funding allows plaintiffs to hold out for the maximum amount possible.
Saturday, July 3, 2010
The most common types of personal injury claims are road traffic accidents, accidents at work, tripping accidents, assault claims, accidents in the home, product defect accidents (product liability) and holiday accidents. The term personal injury also includes medical and dental accidents.
If the negligence of another party can be proved, the injured party may be entitled to monetary compensation from that party. In the United States, this system is complex. Attorneys often represent clients on a "contingency basis," in which the attorney's fee is a percentage of the plaintiff's eventual compensation, payable when the case is resolved.
Filing and waiting for a case settlement can take a long time. During this time plaintiffs can feel financial and emotional stress. This is why many people work with their lawyer to secure lawsuit settlement funding.
A lawsuit settlement funding is an upfront advance of funds from a pending lawsuit. The amount advanced is usually an amount that is less than the expected amount from a pending lawsuit. Lawsuit settlement loans are very different than typical bank loans as they do not require a credit check, an income amount, or a statement of employment history
A lawsuit settlement loan is based on your pending lawsuit. If your lawsuit does not come out in your favor, the loan does not have to be repaid. So, in order to qualify for a lawsuit settlement loan your case should be strong and winnable.
Lawyers are prevented from lending any money to clients. The American Bar Association has strict rules against such funding from lawyers to clients. The rules were devised to prevent any kind of conflict of interest that would change the legal advice from your attorney.
Friday, June 18, 2010
Photo courtesy of Photos8.com
Lawsuit funding is a non-recourse cash advance made to a plaintiff, by a litigation finance company, against a pending lawsuit. The funding is called non-recourse because if the case is lost, the plaintiff is not required to repay the funds advanced.
Lawsuit funding is available to a wide variety of lawsuit types. The funding is usually made available for cases such as class action, product liability, wrongful death, and personal injury. The lawsuit funding is also available for breach of contract, malpractice, worker’s compensation and medical bills.
How it works
The funding is reviewed, approved, and funded purely on the merits of the case. If the case is reviewed by the lawsuit funding company and it is determined the case will likely win, the case is approved for a cash advance based on the perceived settlement when the case is final.
There is a cost attached to the lawsuit funding cash advance. Once the case is settled in favor of the plaintiff, the litigation finance lender is repaid for the amount forwarded prior to the settlement. While this type of lawsuit funding is typically referred to as a loan, it is not a loan. The lender earns money by charging the plaintiff a fee for the use of the money.
Find a respectable company
When you start your research and look to find lawsuit funding it is best to use the advice and counsel of your attorney throughout the process. Many times an attorney can recommend reputable lawsuit loan companies to speak with. Once you’ve chosen one or more companies to contact, make sure your attorney is advising you along the way.
Look for Experience
A Lawsuit loan company works with plaintiff’s on a regular basis. They are well aware of the issues and emotional stress a lawsuit can bring to a plaintiff and their families. The company will work quickly to review your case with your attorney and swiftly let you know if you qualify for cash advance funding.
To apply for settlement funding, the process is made easy, and if you are dealing with a reputable firm it all happens rather quickly. It is important your attorney be on board advising you along the way to review all funding details and any to advise you on whether to accept the offer made, or not. The lawsuit funder will ask you during the application process for all pertinent details on the case. Once the lawsuit funding company has all the information an offer will be made to the plaintiff.
Alliance Claim Funding
Alliance Claim Funding. LLC is a respectable company with enormous experience. Alliance advances funds to plaintiffs pursuing damage claims; in return, securing a portion of the proceeds that may flow from successful case settlements.
If you have questions, call Alliance Claim Funding. Feel free to fill out the Alliance application for funding. Application can be found here Plaintiff Application.
Tuesday, June 15, 2010
Photo Courtesy of Photos8.com
Lawsuit funding is a cash advance made against a pending settlement or lawsuit which does not need to be repaid if the plaintiff loses their case. Typically this type of funding is sought for a plaintiff who has filed a large lawsuit that takes time, even years, to settle. During this time, the plaintiff is faced with large legal bills and must also take care of personal expenses, mortgage, medical costs, car loan, and sometimes healthcare workers.
Financial Health Stressed
A plaintiff’s financial heath and situation can be taxed to the maximum while waiting for a settlement in their case. In some cases lawsuits are settled before going to court. If an offer out of court is fair and reasonable an attorney may advise their client to take the settlement amount. If the offer is not reasonable the plaintiff has the option to continue their case in court before a judge or jury to determine damages.
Funding to Ease Pressure
Another option a plaintiff might consider while waiting for a case to come to a verdict or reach a settlement is to look into the possibility of accessing lawsuit funding for your case. If you’ve been hurt, or lost a job, you may want lawsuit funds to help tide you over until the case is settled.
Lawsuit funding gives the plaintiff a cash advance which helps them get through the long, drawn out legal process and wait for a decent settlement. This type of funding helps plaintiffs pay current and future bills and legal expenses during the wait until a settlement is reached.
Find a Reputable Funding Source
A reputable legal funding company, such as Alliance Claim Funding, understands the stress of financial insecurity many plaintiff’s feel as they wait the long months, and even years, until a verdict or settlement is reached. Once you contact the company, they will work quickly to review your case on its merits and make you a funding agreement offer.
Is Lawsuit Funding a Loan?
While this is sometimes called a loan, it is not a typical loan. There are no credit checks or collateral required. The funding is based solely on the merits and probable outcome of the lawsuit. In addition, the amount received by the plaintiff as a cash advance is not required to be repaid until the lawsuit is finally settled. At that time the funder is automatically paid the amount due. Also, it is important to note that this type of funding is called non-recourse funding, which means in the event the plaintiff loses the case, there is no payment required at all to the lawsuit funder.
Contact Alliance Claim Funding
Alliance Claim Funding is a respectable lawsuit funding source; the company makes reliable funding solutions available to plaintiffs and their attorneys that address plaintiffs’ urgent financial needs.
Sunday, June 13, 2010
Lawsuit Loans Growing in Popularity
Lawsuit settlement loans are growing in popularity as a way to help fund lawsuits. Lawsuits can be very expensive for plaintiffs, and can take a long time to reach a settlement. Legal fees mount over time as the lawsuit moves forward. Funds are typically needed to help plaintiff’s pay legal fees and to help plaintiffs stay the course financially and while keeping the lawsuit alive.
Lawsuit Settlement Funding
With a lawsuit settlement loan a funder will review the case in question and if the case looks sound and winnable, the funder will provide funds upfront to the plaintiff. Some funders ask for a loan repayment as well as a percentage of the eventual settlement award. However, this is not as popular as it once was.
Most lawsuit settlement loans will not collect any money if the plaintiff loses the case. This unknown outcome of a case makes loans risky for the funder. It is typical that a lawsuit settlement funder will carefully review the case in question and determine the plaintiff’s potential for settlement before a loan is granted.
Type of Lawsuits?
Lawsuit settlement loans are provided for a wide variety of lawsuits. The most common types of cases to receive funding are auto accidents, premise liability, medical malpractice, product liability, commercial litigation, railroad claims, personal injury, and wrongful death.
When a plaintiff works with a settlement funding company, the company will fully review the case and evaluate the strength and merits of the case. The funder must see a probably favorable outcome to enter into an agreement with the plaintiff. Most loans are reviewed quickly and a settlement loan agreement is written outlining all the details of the loan and the repayment requirements.
Most reputable lawsuit settlement loan funders, like Alliance Claim Funding, will review the entire situation, including the financial needs of the plaintiff. Loans are created based on those needs so the plaintiff can keep the case alive and not be forced to drop the case, or settle too soon.
Strength of Your Case
Since these loans are granted solely on the strength of the case, they do not require credit checks, or typical bank requirements for funding. The main criteria will always be the strength of the case, and based on the amount expected when the case is settled in favor of the plaintiff.
Friday, June 11, 2010
Which Lawsuits Qualify?
Lawsuit loans are available as a cash advance to plaintiffs with many types of lawsuits. The most common lawsuits funded by a lawsuit loan are personal injury, wrongful death, medical malpractice, product liability, slip and fall cases, and many more. Car accidents with personal injury or wrongful death are one of the most common types of lawsuit that will qualify for lawsuit loan funding by a litigation finance company.
In fact, car accidents tend to offer some of the best and most competitive rates within the lawsuit loan funding industry. If a plaintiff has filed a lawsuit and entered into the litigation process a lawsuit loan may be an excellent choice. Most lawsuit loan companies provide pre and post settlement funding to plaintiffs.
Is it Really a Loan?
No. The funds available to a plaintiff are sometimes called a lawsuit loan but it is really not a loan at all. The funding is merely an agreement between funder and plaintiff with a contract for repayment at the time a settlement or verdict is reached. Unlike a typical bank loan, there is no credit check as the funding is based purely on the merits of the case and the likelihood the plaintiff will win. In addition, there are no monthly or regular payments required with lawsuit loans as the repayment is required at the time of settlement or verdict.
Pre-settlement lawsuit loans
A pre-settlement lawsuit loan is made prior to the verdict or settlement in the case. Car accidents with a lawsuit filed typically qualify for a pre-settlement lawsuit loan. If a plaintiff is going through the litigation process and finding it difficult to stay afloat financially, a lawsuit loan is a good option. The funding works to keep the case alive is pending the outcome of the case.
Post–settlement lawsuit loans.
Plaintiffs with car accident lawsuits recently settled can also obtain a lawsuit loan which is made pending the payment of the claim by the defendant. Since there can be a waiting period between the settlement and when the payment arrives a post-settlement lawsuit loan can help ease the financial burden and stress felt by a plaintiff.
Alliance Claim Funding is a respected litigation funding company, and well versed in the issues facing plaintiffs who have experienced a car accident. These litigation finance companies are sensitive to plaintiffs and work to swiftly review, evaluate and approve cases in need of lawsuit funding.
Thursday, June 10, 2010
Funding Your Lawsuit
When a lawsuit is filed and the proceedings and timeline are set it’s time to start thinking about how you’ll fund your lawsuit. Many lawsuits are filed against large companies or insurance agencies with deep pockets to fight your lawsuit. Lawsuits can typically drag out for long periods of time, even years, until a settlement or verdict is reached. During this time, plaintiffs can have a difficult time staying financially solvent as the mounting legal bills and costs for a healthy cost of living become difficult to maintain.
Taking Out a Settlement Loan
One good option for plaintiffs is to consider taking out a settlement funding loan to ease the financial burdens inherent in filing a lawsuit. Lawsuit settlement funding is not provided by a bank or regular loan company. These types of funds are provided by a litigation finance company whose role is only to fund lawsuits for plaintiffs.
Funds for Large Lawsuits
Settlement loan funding is not usually for those who have filed a small lawsuit. These funds are usually sought when dealing with a large lawsuit that takes a long time to settle. Many times those plaintiffs who have filed a suit are out of work due to their injuries, underemployed, have high medical expenses, and various other expenses related to reason for the lawsuit. In addition, legal fees continue to mount as time passes.
Finding the Right Company
Alliance Claim Funding is a reputable settlement loan funding company. Your attorney can sometimes recommend several reputable lawsuit settlement funding companies. You’ll want to do your research and find the company that will give you a fair agreement with reasonable costs to borrow the money.
How Does it Work?
Settlement loan companies typically advance an average of 10% of the expected settlement award. While there are fees involved with this type of loan, this funding can make a huge difference in a plaintiff’s ability to continue the lawsuit. Many plaintiffs are forced to pull out early or to settle their lawsuit for far less than the lawsuit is worth.
How to Get a Cash Advance?
The litigation finance company will review your lawsuit with your attorney to determine if the lawsuit is worth the risk. Unlike most loans we take out during our life, there is no need for credit checks or collateral as this loan is based only on the merits of your lawsuit and the perceived settlement amount. Also, unlike a regular bank loan there are no monthly payments to worry about. All payments to repay the loan amount are done at the time the lawsuit is settled.