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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.