Lawsuit Loan Lawsuit Funding: Plaintiffs involved in an auto accident litigation can use the potential lawsuit settlement as collateral to get a non-recourse settlement loan. Auto Accidents can happen – may have been just a phrase in the past. Today, the equivalent phrase may well be Auto Accidents can happen, and if they do, the affected parties may sue!
A lawsuit loan or lawsuit funding is one good safe option for plaintiffs involved in a lawsuit to finance their daily needs. Lawsuit loan allows them to take care of medical expenses, household bills, mortgage payments, auto payments, education expenses. According to the National Highway Traffic Safety Administration there are about 43,000 people killed in fatal motor vehicles accidents each year in the United States. As you can see, auto accidents are happening at an alarming rate in this country, and because of these the lives of innocent people and their families are adversely affected. When a loved one in family is unexpectedly killed by a drunk driver, families are devastated and destroyed. They are affected not only physically and mentally but they are also financially strained. Mostly plaintiffs involved in auto accident have missed work or lost their job and can no longer meet their household regular bills. Keeping up with their household payments can be a huge strain on them. Most of them are in need of medical treatments. They have to pay their mortgage or rent. Many of them may be one or two payments away from foreclosures. They need to pay children’s education expenses.
What are the Options?
People who need funds while waiting for a lawsuit to be resolved and a fair settlement to be paid have very few options, but some carry more risk than others. They can use their own credit cards. This is an expensive alternative and can actually put them even more at risk if the lawsuit takes longer than you anticipate to be settled. And if they lose the case they still have to pay their monthly credit card bills unlike lawsuit loan or lawsuit cash advance. They can use their own credit cards. This is an expensive alternative and can actually put them even more at risk if the lawsuit takes longer than you anticipate to be settled. And if they lose the case they still have to pay their monthly credit card bills unlike lawsuit loan or lawsuit cash advance. Most of the plaintiffs involved in lawsuits do not realize they can get cash advance before their case settles. It is called as lawsuit funding and often referred as lawsuit loan, legal funding, lawsuit cash advance, litigation financing, and lawsuit pre-settlement loan.
Advantages of Lawsuit Funding or Lawsuit Loan:
1. When you apply for a lawsuit loan there is no upfront fee. A good lawsuit funding company should not charge any upfront fee or any application fee, processing fee or any monthly fee.
2. No credit or bad credit is alright, because approval of lawsuit loan or lawsuit funding is based on the strength of your lawsuit. The approval of lawsuit loan is not based on credit history, unless there is a pending bankruptcy.
3. No employment requirement is required to apply for a lawsuit loan or lawsuit funding.
4. Lawsuit funding is not a typical kind of loan. Loans are repayable absolutely. A loan is type of financial aid which must be repaid, with interest. But lawsuit funding is actually purchasing an interest in your settlement. So, if you lose your case, you do not owe the lawsuit funding company anything.
5. When you apply for a lawsuit loan, all information is kept confidential and only parties who know about the transaction are you the plaintiff, your attorney, and lawsuit funding company.