An automobile accident lawsuit cash advance is one of the most common lawsuit funding loans within the industry. The main reason is because automobile accidents are one of the most common injury cases within personal injury law. An automobile accident happens almost every 7 seconds. When someone is injured due to reckless of another and decide to file suit against the driver, they immediately become the plaintiff. A plaintiff is defined as the person seeking compensation and he defendent is referred to as the driver who caused the accident.
When someone has been injured in an accident and has the representation of a lawyer they may qualify for a cash advance against future compensation for their auto accident.
A lawsuit cash advance company will have several questions which ultimately determine if you qualify for funding:
- How much money do you need?
- How strong is your case?
- What type of injuries occurred?
- What do the police reports state?
- How much money is your case worth or how much money is your attorney seeking?
- What do the medical reports state?
Lawsuit cash advance companies look at each case on an individual basis. They will look at the underlying strength of your case and if you qualify they will determine how much they can offer to the plaintiff. This number is typically a percentage of the value of your case. The amount of the cash advance typically varies from company to company.
Because automobile accidents are generally better cases in that liability can be proved easier, the rates are typically lower for such cases. Again, like the percentage of money a company can advance, the rates also can vary. There are no set rates or payments as a standard. It really depends upon the lender.
If you decide to investigate an automobile accident lawsuit cash advance always look for those companies that provide non recourse funding.
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Filed under: Lawsuit Funding |