Are Lawsuit Loans Available for a Settled Case?

As time slips by, there are many plaintiffs who are successful and win their cases and then continue to wait….for a payment!

Many people are familiar with pre-settlement lawsuit loans, which are provided by lawsuit loan companies as funding to a plaintiff while they await a settlement or verdict in their case. However, many don’t realize that lawsuit loans are available even after a plaintiff’s case is settled. This type of funding it referred to as post-settlement funding and is provided to plaintiffs as they are await for the awarded compensation to be paid.

Lawsuit loans provide money while you wait for a payment

In some situations, even when your attorney has been successful in winning your case the defense team can appeal the decision.  This appeal will prolong the wait for a plaintiff to receive compensation.  In some cases, the plaintiff could still lose the case during the appeals process. The lawsuit loan company will review the lawsuit settlement and determine whether the case is strong and a viable case to provide funding while the plaintiff waits for a payment to be made.

How to apply for post-settlement lawsuit loan funding?

The process for applying a lawsuit loan in the form of post-settlement funding is very similar to pre-settlement funding.  A lawsuit loan litigation finance company will process your application and immediately get in touch with your attorney to request a copy of the actual settlement letter.  The letter will provide the funding source with the pertinent information needed to approve you for a post-settlement lawsuit loan. Once the details of the settlement are reviewed, the company will put together a contract and send it to your attorney for review.  If you and your attorney agree to the details and terms of the funding offer, the monies are quickly transferred to your account.

Easy application for lawsuit loans

This type of post-settlement funding is extremely important to plaintiffs who even though they have won their case, and been awarded a settlement, it can take months before any money is received by the plaintiff.  This is a crucial time when legal fees need to be paid and the plaintiff has to pay medical bills, mortgage, car payments, and many other obligations.

Most post-settlement lawsuit loans are offered at highly competitive rates.  The funding is not expected to be repaid until the settlement money is received by the plaintiff.  At that time, the full amount due to the litigation finance company is paid in full by the plaintiff.