You might be wondering exactly how lawsuit settlement funding works? That’s why we’ve created this simple graphic image depicting clearly the steps in the litigation funding process. This is the process you can expect when you work with Alliance Claim Funding for your legal funding needs.
1. Plaintiff Incurs Damages: The initial injury or loss to an individual or group is the first incident or event. Whether you’ve suffered a personal injury such as a car accident, slip and fall, medical malpractice, or you’ve lost a loved one in a wrongful death, this is the first step.
2. Lawyer Accepts Case: When you feel you have a legal case to pursue you will consult a personal injury attorney or other attorney who specializes in the type of case you plan to file. Once you meet with your attorney and the case is reviewed you’ll retain the services of the lawyer to guide you through the legal process.
3. Plaintiff Needs Money: Filing a case costs money. Even if your case is strong and you expect a settlement or verdict in your favor, it can a long time to reach a positive outcome. In many situations, money runs out as the case moves forward and plaintiff’s struggle to pay for living expenses, legal fees, medical expenses, etc. This is when most plaintiffs’ and their attorneys seek lawsuit settlement funding from Alliance Claim Funding.
4. ACF Reviews Case: Once a phone call is made to Alliance Claim Funding, their professional team immediately begins the case review process. This review is done swiftly to determine if your case will qualify for funding.
5. ACF Advances Funds: Once a case is reviewed and accepted for litigation funding, Alliance Claim Funding immediately advances funds to the plaintiff.
6. Case Settles: Once the case settles the funds advanced earlier by ACF and payment goes to a lawyer’s trust set up to hold the funds.
7. Advances Paid: The advance is paid back in full to Alliance Claim Funding.