The high costs involved in pursuing lawsuits discourage many petitioners who are forced to settle for considerably less than what could have been gotten.
Delaying a lawsuit and making petitioners go for early settlements is one of the tactics used by large firms and individuals with deep pockets.
This underhanded technique that adds insult to injury can be avoided by getting the funding you need before the case.
It is also known as litigation funding or lawsuit cash advances.
Class attorneys require reasonable compensation. With pre-settlement funding, you can afford to have access to top attorneys and pay for your living expenses.
Some of us put on hold filing lawsuits from the uncertainty of being unable to sustain the financial commitment.
With rest of the household bills, the lawsuit could be an additional burden that you simply cannot bear.
In such situations, getting a cash advance for the lawsuit will come in handy, and when the case is settled you will finally enjoy the benefits of complete compensation.
In cases where you’re unable to attend work due to personal injury, the usual scenario is that you want to settle as soon as possible.
Firstly, there is the emotional issue of getting the dispute resolved quickly and getting back to work; to normal life.
And then, there is the financial aspect. Getting the money you need for your case early, your monetary concerns of medical expenses and lawyers’ fees will be taken care of.
Besides, income will have dried up as you’re unable to attend work.
The chances are highly likely that you do not really understand how settlement loans work. They are more like insurance rather than a loan.
If you are approved by a pre settlement funding company, you can get the money to cover your living expenses.
And finally when you do win the lawsuit, you repay the company with the previously agreed amount. You owe them nothing if you lose.
The security for the loans is the settlement you receive. Normally, the lender will charge a percentage of the settlement amount.
If you were involved in a car accident, you could use the funding to repair it. You could even replace it with a new car if it was totaled.
In case of your house, you could use the lawsuit advance for remodeling.
You can apply for funding for many reasons like personal injury, burn injuries, products liability, accidents due to negligence, injury on construction site, and medical malpractice.
Depending on the company, you can even pay back the funding in installments after winning damages.
You need not pay back all at once; companies allow a certain period for getting back on feet.
Most people do not realize they’re eligible for this type of funding. Find out if you are, by filling in the application form.
Justice should be available to everyone, not just for rich individuals or large corporations.
The procedure for finding your eligibility is fairly short and you can usually receive the funding within 1-2 days.
License: Creative Commons
Sean Carter is part of an talented team of writers who are featured all over the web on various blogs.
He specializes in Business, Law and Technology