Lawsuit Funding - If you have been injured as a result of an auto accident, slip & fall, medical malpractice or product liability, and are represented by an attorney, you may be eligible for an advance on your pending personal injury settlement. Standard practices require no credit checks or lengthy applications and you normally do not have to be currently employed.
With Lawsuit Funding many plaintiffs are forced to accept a low offer due to the financial hardship that many victims experience soon after their personal injury. A Lawsuit Funding company can give you an advance on your settlement and will allow your attorney the time needed to get the full value for your case.
Lawsuit Funding is not a Loan
Lawsuit Funding is not a loan, the lawsuit funding company advances money against personal injury cases in exchange for a specific portion of the future settlement. Lawsuit Funding, unlike a loan, if you lose your case you do not owe anything.
Re-payment of the advance is usually due at the time the case is settled at which time your attorney will pay-off the advance with the proceeds of your settlement along with any other liens.
If you are eligible, most lawsuit funding companies can have your approval decision within 3 days after reviewing your case documents. Funding can sometimes take as little as 24 hours of receiving your signed funding agreement which of course will be sent through your attorney.
Non Recourse Lawsuit Funding
There is no recourse against you if the case is lost and the lawsuit funding company cannot try to collect the money from you. Once they advance cash it is yours to keep. This is called non-recourse funding.
They don't interfere with your attorney’s handling of the case. A presettlement funding companys' only involvement is to initially review your attorney’s file so they can evaluate the claim. They have no influence on you, your attorney, or the defendant.
Making advances on your case is perfectly legal. The claim or lawsuit is yours and you own it, just like you own a piece of property. After paying your attorney and medical liens, the potential remaining money is yours. You may sell or assign it.
Presettlement funding is very expensive if you have any other alternative means to meet your economic needs you should definately do so. You canlook into any professionals that are linked on this page and choose the one that suits your needs best.