Top Benefits of Financial Lawsuit Funding
Funding a lawsuit is an expensive matter. Despite this fact, justice needs to be served and you need to have the money for it. It's the reason thousands of people avoid pursuing their lawsuits as they don't have enough financial backup.
However, there is a solution to this problem. All you need to do is opt for lawsuit funding, which is becoming increasingly popular. The fact is most don't know the options available to fund a lawsuit. You can opt for these without any worry.
These days, there are many reliable lawsuit funding companies, which offer loans to the litigants to help them continue with their settlement case. These lawsuit funding companies lend money to the victims in the form of cash advance loans that helps to go ahead with your case. One thing that you need to remember here is, these lawsuit loans are not really loans. Unlike loans from banks, here you owe nothing to the lawsuit funding company if you lose the settlement case.
Financial lawsuit funding is also known as litigation finance, lawsuit advances, settlement advances, pre-settlement funding, post-settlement funding, cash advances, etc. With this process of getting cash advance, clients and attorneys both benefit, based solely on the merits of a pending case or settlement.
Pre-settlement advances are cash advances on pending litigation, where the finance company can only look to the lawsuit itself for repayment. It is not a loan, rather an assignment of a portion of the client or attorney's interest in the anticipated recovery of the lawsuit.
In case there is no recovery, there is no repayment. Will it be ethical for attorneys to refer their clients for lawsuit funding? Yes!
As far as the referring attorney has no financial interest in the lawsuit funding company, or the referring attorney doesn't profit from the transaction, or the lawsuit funding company isn't engaged in the litigation of the pending lawsuit, that is ethical. The benefits of referring clients to litigation finance companies include obvious, such as easing financial issues, providing immediate financial assistance during tough times and being able to hold out for a better settlement.
The financial lawsuit funding process is simple. It needs a completed two-page application to evaluate the lawsuit. The merits of the pending litigation are evaluated and all questions or concerns about the lawsuit are directed to the attorney handling the lawsuit. After receiving the application and supporting documents, a decision is made in a day or two. Then, it is left up to the client as to whether or not they wish to go ahead. The lawsuit funding company forwards a contract directly to the attorney for review which will outline the process of the transaction, rates, and fees. The contract also elaborates how the client will receive their money. The attorney is simply asked to honor the lien of the financial lawsuit funding company when the settlement proceeds are able to be disbursed.
To know more details about lawsuit funding benefits, call us here at Fast Cash Legal (844) 213-1116, or browse through this site.
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