10 Tips to Get Lawsuit Loan
Most plaintiffs involved in personal injury lawsuits have medical bills, utility bills, mortgages, rent, car payments, child support and other financial obligations to pay every month.
Unfortunately, every day expenses won’t decrease because your life is paused due to the injury suffered in an accident that wasn’t your fault. In addition, along with your medical bills and insufficient funds as a result of your absence from work, the emotional roller-coaster is getting way out of hand.
Lawsuit Loans can provide a financial relief while your case is still pending. It’s not a loan in traditional sense. A Lawsuit Loan is a cash advance against your future settlement proceeds.
Plaintiffs, if you are ready to reach the helping hand, read this article because I will give you ten (10) tips on how to get a Lawsuit Loan.
TIP # 1 Learn what a Lawsuit Loan actually is
Being on top of the subject is your priority number one. In order to navigate through the process you need to learn all you can about the Lawsuit Loans. Your knowledge will help you understand what are you getting into and in advance it will give you the negotiation advantage you can use when determining terms and conditions.
Let’s start from basics:
A Lawsuit Loan is a type of financing available to plaintiffs involved in the personal injury litigation process where they are paying their attorney on a contingency fee basis (a sum of money that an attorney receives as a fee only if one wins the case).
This is a non-recourse cash advance that you pay back to the Lawsuit Loan company only if you win or settle the case.
Yes, you’ve read it correctly, only when and if you win the case you are obliged to pay back your funder. If it happens that you don’t win the lawsuit you owe the Lawsuit Loan company nothing.
As we have started talking about Lawsuit Loan advantages, in the lines above, let me tell you more about great things that a Lawsuit Loan can provide in order to ease your financial burden while you are waiting for your case to settle.
Lawsuit Loan can be processed in the matter of hours. It is fast, and 100% risk free. If you are prepared, have your documentation ready, a few phone calls, and your attorney’s participation, and of course an approval from the legal funding company, is all it takes to get your Lawsuit Loan. Furthermore, be aware that all the fees, if any, that are associated with your Lawsuit Loan are not to be paid up front; they are enrolled into the loan balance. There should be no out of pocket costs.
Now, let’s briefly describe the difference between a traditional bank loan and a Lawsuit Loan:
|Bank Loan||Lawsuit Loan|
|Up front fees||Yes||Should be Zero|
|100% re-payment required||Yes||Only if you win your case|
|Credit check required||Yes||No|
|Background check required||Sometimes||No|
|Steady income required||Yes||No|
Make it simple!, might be the motto of all Lawsuit Loan providers. The security for your loan will be your injury settlement whether you have bad credit or no credit score at all.
TIP #2 Learn How Lawsuit Loan works
Getting a Lawsuit Loan is a pretty simple process, but even so it´s always good to know as much as possible when you are getting involved in any kind of financial transactions. Of course, you are already tired from the litigation itself but it is always better to know what comes ahead.
As we all know, the legal processes takes months even years before the verdict is reached or before a case is settled. With a Lawsuit Loan you have opportunity to endure more, you have opportunity to pay for your everyday bills and stop worrying while you wait your case to settle.
Your trail will for sure be time consuming and stressful, no matter what are you fighting for and the Lawsuit Loan can help you take some of that burden of your back. It is simple and it works like this:
- Find the Lawsuit Loan Company that you can trust
- Fill out the application
- Consult your attorney
- Get approved by the legal funding company
- Review and sign the agreement
- Receive your Lawsuit Loan
TIP #3 Search for Best Lawsuit Loan Company
Now that you know what a Lawsuit Loan in fact is, its advantages and how does it actually work it is time to start exploring the market and find the best Lawsuit Loan company that will meet your expectations and answer all your needs.
This part is very important and it requires some of your time and patience. If you have trouble searching for Lawsuit Loan companies by yourself, have a friend or family member help you in this matter.
Before you start, it’s good to know that Lawsuit Loan is also known by the following terms: legal funding, lawsuit advance, lawsuit lending, settlement loan, lawsuit financing or pre-settlement loan.
Your search must be broad and you need to be prepared and well organized. This will all pay off later when the time comes to decision making about which Lawsuit Loan company you are going to choose. Therefore, make sure that all relevant information about the Lawsuit Loan Companies are divided, clear and in order. Take care that your list includes columns for contact information, address, working time, terms and conditions and space for special notes that you will use for pros and cons. Here are some basic things that you are looking for when searching for trustworthy Lawsuit Loan company: good reference, interest rates, fees, transparency, and willingness to answer your requests and questions immediately. When you find the Lawsuit Loan company you can trust it is easy to recognize their good business.
TIP #4 Prepare Documentation for Lawsuit Loan
The only way to get fast a Lawsuit Loan is to be prepared and well organized. If you and your lawyer have all the paperwork regarding your case ready getting a Lawsuit Loan can be a matter of hours. Therefore, make sure all the documentation regarding you case is ready, copied and organized.
What information will a legal funding company want to review? In a nutshell, the same documents your attorney has to fight your case. Maybe not all of it, but those that can help determine the extent of your injuries and medical treatment, who the defendant is, their insurance company is and the amount of their policy limits, and is the person being sued actually liable for the accident and your injuries.
TIP #5 Consult your Attorney about a Lawsuit Loan
Your attorney is the most important link between you and the Lawsuit Loan company, and let’s face it, the only person who knows more about your case than you.
All of the Lawsuit Loan companies require your attorney’s participation as they review and finalize the transaction.
Talk to you lawyer openly, ask him/her any question you think is relevant for your Lawsuit Loan, ask for his/her advice and recommendation and talk to him/her about your possible future prospects that you will gain if the case is settled.
TIP #6 Apply for a Lawsuit Loan
You’ve learned, you’ve asked for advice, you’ve researched, and now it’s time to go through the application process. The application process is very simple, as everything in the Lawsuit Loan process, so don’t be afraid and start it as soon as you can because this will initiate the Lawsuit Loan company to start evaluating your case and come up with a proposal.
Most of the Lawsuit Loan companies have the application free of charge available for you online. Application requires general information about you, your attorney (contact information) and your case.
Once you apply for a Lawsuit Loan, the Company will contact your lawyer and ask him/her for necessary details they need in order to evaluate your eligibility.
The eligibility is decided by the team of experts employed by the Lawsuit Loan company. This team, called the underwriting team, evaluates your case and decides your eligibility based on numerous factors including as mentioned; damages (the injuries you suffered from the accident, lost wages due to the recovery time or termination of employment); liability (who is responsible for the accident) and insurance (the amount of money that obligor´s insurance covers).
Good, reputable Lawsuit Loan companies have the underwriting team that is expeditious and understands their client´s need for urgency and fast money obtainment.
TIP #7 Talk to the Lawsuit Loan Company
A trustworthy Lawsuit Loan company is always available for their clients. In case you have any doubts or any additional questions feel free to call other Lawsuit Loan companies.
Their employees are there to answer your questions and clarify any ambiguities you might have.
Call the Lawsuit Loan company and find out if they cover your case type, prior to applying, or you can call them and ask about the references, their history or in the case you need additional information about their interests and fees or the approval process itself.
Any trustworthy company will try to answer all your questions in the shortest period of time. This is another way to find out if you are dealing with somebody who cares.
TIP #8 Ask for Lawsuit Loan Proposal
Life does get complicated and we can get tired from its surprises. But don’t give up, fight for your justice, apply for a Lawsuit Loan, which can give your attorney more time to fight for a fair settlement, which usually means more money for you.
Lawsuit Loan will provide you with some freedom, some breathing space but you have to be at top of your wits and run this show.
Once you have applied for Lawsuit Loans and you and your attorney have delivered all the necessary paperwork needed for its approval, all you need now is their approval and agreement to sign.
When you are looking at different lawsuit loan companies keep in mind that the cheapest solution is not always the best. Don’t forget which company has worked hard in order to make you feel appreciated and respected. Now, in this hard times, when you are trying to overcome your troubles and fight for the stability you so much need, don’t forget that being treated decent is always a plus.
TIP #9 Sign Lawsuit Loan Contract
When you are approved and receive the purchase agreement from the legal funding company it is always good idea to read the contact through and without any interruptions. Your lawyer should do the same and see if he/she has any remarks or objections.
If you agree on proposed interest, fees, terms and conditions, sign the contract and wait for the money to be transferred to your account.
TIP #10 Wait for Lawsuit Loan Funds and Start Breathing Again
Despite all your troubles and misfortunes, with a Lawsuit Loan you will manage to pull through. Once you have signed the contract with Lawsuit Loan company the agreed amount of money will be at your disposal in next 24 to 48 hours.
Some Lawsuit Loan companies do not require a bank account for the money transfers at all, so don’t worry. Apply for a fast, 100% risk free advance with Fast Cash Legal and if approved, the money for your everyday needs can be in your pocket next day. Call us at (844) 213 1116 or visit our website and start your application process now. We are looking forward to meeting you!
Start Your Free Application Now
- No credit checks
- If approved, you can get your cash in 24 hours
- If you lose your case, you owe nothing
- There is no obligation if you apply then decide not to take the funding