When plaintiffs file a personal injury lawsuit, they expect a fair settlement.
Unfortunately, this is no easy task and the litigation process will
often take much longer than the plaintiff expected. Deep-pocket defendants have the financial means to keep the case going for as long
as necessary; they will often delay the case in order to pressure the plaintiff
into accepting less than deserved. A plaintiff must not hastily settle a claim
just because the bills are piling up. Financial
stability is not only essential to the plaintiff’s ability to fight a lawsuit,
but it could also be seen as a smart legal strategy.
Lawsuit
funding benefits plaintiffs who are often cash strapped and unable to hold
out for their case to settle. With a
lawsuit cash advance, a plaintiff can take care of pressing bills – medical
expenses, funeral and burial expenses, mortgage, utilities, and any other
outstanding bills, and wait for a much higher settlement since the pressure to
settle early has been removed.
Plaintiffs who have retained an attorney, can apply for a non-recourse “lawsuit
loan,” the repayment of which is contingent upon the successful
outcome of their case. Obtaining lawsuit
funding is quick and easy because there are non income or credit checks;
funding is determined solely on the strength of the case. Once a plaintiff applies for funding, the legal
finance company will contract the attorney handling the case to obtain case
documentation. On the basis of this
information, the funding company determines if the case has merit, and if so,
will determine how much to advance the applicant. Lawsuit funding is non-recourse in nature,
meaning that the plaintiff repays the cash advance only after the final
settlement. If the plaintiff fails to
win the case, there is nothing to repay; the funding company bears all of the.
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