If you’re a plaintiff and have filed a case chances are you might be starting to struggle with growing financial pressures, as you wait for a case settlement. It’s really a difficult dilemma because you need money now, but if you settle now it’s likely you will not receive a fair settlement in the amount you deserve. But, the bills are mounting, and your credit cards are helping you survive at outrageous interest rates. There is help for you with litigation funding in the form of a lawsuit cash advance.
Litigation takes time, lots of time. It can even be years before a settlement is reached. During this time plaintiffs and their families typically feel struggles in trying to meet their bills and financial obligations. In many cases, plaintiffs have sustained a personal injury with added medical costs and even job loss or job change, which all adds up to make a the stressful situation. Many have to file bankruptcy to help them get through this time and others are forced to settle their case far too early.
A Lawsuit Cash Advance to the Rescue!
Plaintiffs who have a strong case and are feeling financial pressure many times consider a lawsuit cash advance. This is a special kind of funding or loan specifically designed for plaintiffs awaiting a settlement in a case. While this lawsuit cash advance is a loan it is very different than a typical loan. If your case is strong a lawsuit cash advance company will advance you a portion of the expected settlement funds so that you can pay bills and stay financially afloat during the long wait for the legal system to come to a decision on your case.
A Lawsuit Cash Advance is NOT a Typical Loan
This type of lawsuit cash advance is very different than a typical bank loan. Bank loans require you pay monthly payments and interest and application for a bank loan is based on collateral, job history and credit ratings. With a lawsuit cash advance the only requirement for approval is a strong legal case. There are no credit checks, job history requirements or even monthly payments with interest. The funds advanced are only paid back when the case settles in favor of the plaintiff. Interestingly, if the case does not settle in favor of the plaintiff, there are no funds required to be paid back.
Once the case is settled you will pay back the amount of cash advanced from the settlement funds. Typically the amount of the lawsuit cash advance is a percentage of the expected amount. You will also be required to pay interest or a percentage of the funds advanced. You will keep the remaining funds after the law cash advance it repaid.