Lawsuit Funding Company

A lawsuit funding company can help you secure money before your personal injury case settles. Over the last 10 years there has been a rapid increase in litigation financing companies also known as lawsuit funding. This month is historical as all 50 states now have passed legislation to allow lawsuit funding. There are certain things one must consider prior to applying with a lawsuit funding company.

Some of the requirements include:

  • You must have hired an attorney on a contingency fee basis. If you don’t have legal representation for your accident you will be declined during the application process.
  • When underwriters evaluate your case there must be a good chance that you will receive compensation for your injuries. Because most lawsuit funding companies provide non-recourse funding, they are taking the risk by lending you money. If your case never settles these companies do not require you to pay back the lawsuit loan.
  • A lawsuit funding company will fund a percentage of the potential settlement amount. These percentages vary from company to company. The higher your potential settlement amount the higher amount you can request.
  • The strength of your personal injury case will result if you get approved or not. The stronger the case the better chance you have in getting your case funded and the stronger your case the better chance you have in getting a better rate.

Because a lawsuit funding company offers non-recourse funding their rates are generally a little higher than a typical standard loan, however, there are some companies that can sometimes beat the rate of a standard loan. Again, it really depends upon the strength of your case.

The application process should be seamless no matter whom you apply with. This means during the initial application process you should only provide information such as name, numbers, attorney names and numbers, case type and the requested amount of cash. Once a lawsuit funding company receives this information the rest is handled between your attorney and the funding company until you are approved.

This includes the handling of case files and documents surrounding your personal injury case. When someone is requiring a lawsuit cash advance its because they need money now! This means its important that the process is handled with professionalism and urgency. A lawsuit loan shouldn’t take anymore than a day or so to get an approval. In fact depending upon how quickly a lawsuit funding company can get the required documentation from your lawyer an approval can take just hours.

In closing when you begin applying for litigation financing with a lawsuit funding company you should keep your options open and it could be advantageous to shop your case around to several companies.

*LawLeaf is an online legal funding services that matches plaintiffs searching for pre-settlement cash advances with lenders ready to compete for their business. If you would like more information on how our lenders compete visit our lawsuit funding company today at http://www.lawleaf.com.

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3 Responses

  1. A lawsuit funding company is very similar to a finance company. These types of companies can offer money to people that have been involved in a personal injury. I’ve been part of lawsuit funding for many years and while these types of loans can sometimes be higher than a standard loan, they can certainly help a family that is searching for money during tough times. My understanding when helping people get financed for lawsuit funding is that most people are either hedging that their case won’t ever get settled or they are indeed in need of money.

    The number of lawsuit funding company’s have certainly increased as stated in this article. In fact all 50 states come August will allow lawsuit funding.

    when you decide to hire a company that provides these types of loans you should always consider your options prior to accepting an advancement. Similar to a regular loan or credit card there is interest attached to these loans. When you consider a credit card payment or a bank loan you will need to eventually have to pay back the debt or loan. When you sign up with a lawsuit funding company you will only pay back the loan if you get money from your case.

    If you decide to take a loan than consider the following. Make an itemized list of how much money you need. Don’t take to little because its hard to get a second loan. Don’t ask for too much because you will want to walk away with some money in your pocket.

    The point is if you are in need of cash and you are in the middle of a settlement, than lawsuit funding makes sense. If you feel you have a weak case, than lawsuit funding makes sense. If you have a large bank account and really don’t need the money, lawsuit funding doesn’t make sense.

    Nice Blog

  2. […] lawsuit cash advance is a loan made by a lawsuit funding company to the victim with the understanding once the case has settled the loan will be repaid. For some […]

  3. […] a person applies for an injury settlement they are seeking cash prior to a settlement. A lawsuit funding company will provide injury settlements as a loan only to a plaintiff of the case. They are making […]

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