Over the last few years legal finance has become more and more popular with plaintiffs. While this type of financial instrument has been around a long time, recent years have seen tremendous growth. Today, it has broken through the barriers once present for those who have suffered from personal injuries. Just because legal finance was little known for such a long time does not mean it is not a respected source for financial assistance. In fact, legal finance is commonly used by plaintiffs to ensure they stay strong financially during the long legal process.
Most plaintiffs reap great benefits from the help legal finance brings them. Many of these plaintiffs, who are suffering from an auto accident, medical malpractice, slip and fall, etc., might not be able to stay afloat financially if it weren’t for the financial assistance found with legal financing. Many who are injured have had to stop working, or limit their work hours – which makes life even more difficult.
Once a plaintiff and attorney discuss the possible outcomes of a case, a case may be filed against the person or company responsible for the injury. At that point it’s a good idea to come up with a budget for the plaintiff and their family. Lawsuits take time; some can take months or years to come to a conclusion. It’s important to consider how the plaintiff can survive during this time.
Next, it’s time to contact a reputable legal finance company, like Alliance Claim Funding to determine if you and your case qualify for funding. The application process is quick and easy. You will be required to permit your attorney to share important documentation regarding your case to the legal finance company. They will review the merits of your case and the chances of winning the case in court.
Legal finance does not use credit worthiness, work history, or present employment to determine approval of funding. Your legal financing is approved on the strength of your case alone. Once they review and approval is granted money can be in your hands within a few short days.
Unlike regular bank loans, financial assistance through legal finance does not have to be repaid until your case is settled in your favor. There are no monthly fees or payments until the case finally wins in court. If the case loses, you do not have to repay even one penny of the legal financing you’ve received.