Tuesday, June 15, 2010
Lawsuit Funding: Protect your Financial Health
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.