Many plaintiffs end up turning to lawsuit settlement funding as a way to see their case through the court system. Without lawsuit settlement funding many of these plaintiffs might not be able to even afford to file the case. These type of funding options are typically available to those who qualify which translate to those whose cases are strong and likely to win in court.
If the legal process in our court systems was swift, these loans might not be needed. But the reality is most of these cases take a very long time to reach a verdict or a settlement. During this time plaintiffs can be put in great financial danger and personal stress. Lawsuit settlement loans give plaintiffs the freedom and ability to cover their living expenses and medical bills while awaiting their final settlement.
In many instances, big companies will delay the settlement as long as possible. Not only do they have the financial means to do this, but they know that by delaying the case the plaintiff may settle for a lesser amount. Litigation financing companies can help you get the money you need to avoid this scenario.
Lawsuit settlement funding helps the client avoid having to settle early for a lesser amount than they deserve because of being short on funds. Litigation financing companies fund you with the money you need, and there is no loan repayment. If you win your case, the litigation funding company gets an amount that is agreed upon prior.
Getting a settlement loan is typically a fairly quick process. Lawsuit settlement companies do not require a background or credit checks, so the only requirement is that the plaintiff pay the agreed upon amount if they win their claim. If the case is not settled, the company does not get repayment for the money they funded the plaintiff.