Lawsuit Funding Becomes an Option

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Lawsuit funding in recent years has become much more popular for plaintiffs looking to extend their cases in hopes for larger payouts. Due to the downturn in the economy and recent job loss, litigation financing companies are becoming increasingly popular within the legal industry. People that tend to use lawsuit funding as an option are those people who are strapped for cash and need money to help pay for bills while their case is reaching a settlement.

Just over the last few years the amount of clients that are seeking pre settlement funding have almost trippled. Many people believe this is directly related to hard times and as the economy worsens these numbers are likely to increase. While this type of funding is often frowned upon, plaintiffs and many attorneys see it as a way to help extend a case. Due to the deep pockets of large companies and corporations, litigation can extend out for years before a settlement is reached. These companies oftentimes have tenacious defense attorneys with deep pockets willing to hold up a verdict at all costs. Most companies believe the longer you hold up a case in court, the likelihood increases that the plaintiff will settle for less money.

When a company provides funding for a legal case the money is not loaned. Lawsuit funding is a financial arrangement between the lender and the plaintiff. A loan is money that is borrowed by a consumer with the understanding the money borrowed will be paid back within a certain time period. Lawsuit funding is non recourse. This means money borrowed by the plaintiff with the understanding if the plaintiff wins the case, they will repay the funding company along with a percentage agreed upon prior. If the plaintiff loses the case the money will never be repaid. This is a risk that an investment company takes when offering lawsuit funding.If

When a person decides to hire a personal injury lawyer to help fight for their compensation they have an arrangement to pay the attorney a contingent fee. This fee is typically a percentage of the winnings. If the plaintiff wins the case, the attorney will be the first person to receive compensation. The attorney will take a percentage of the earnings agreed upon prior to representing a client and the client will receive the rest of the money. The monies can be paid in one lump sum or through a structured settlement (payment plan). If a plaintiff decides to use lawsuit funding as an alternative the attorney will receive their portion of the proceeds before a litigation finance company will receive their payment.

If a plaintiff is successful in winning their case however the amount of money won by the plaintiff is less than what was borrowed, the finance company will receive the remaining amount of money, only after the attorney is paid his fee. The remainder balance is not paid back to the litigation finance company.

There are typically four types of funding a litigation financing company will offer however not all companies offer each of these types:

  • Pre settlement funding
  • Structured settlement funding
  • Commercial litigation financing
  • Law Firm loans

While alternative methods are preferred by some lawsuit funding has become a viable option for many.

If you are currently searching for additional information on lawsuit funding visit LawLeaf today. LawLeaf is an online lawsuit funding company providing services throughout the United States and Canada.

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Injury Settlement

An injury settlement is a legal financing term that describes an advance against a pending lawsuit. An injury settlement is most commonly referred to as a lawsuit cash advance an is typically used when someone needs money to pay for bills and expenses while waiting for their cash award. When you break the legal definition of the term it is most commonly referred to that of a personal injury case. Injury is caused by a person intentionally or unintentionally. A personal injury in effect is injury caused by a person or entity that effects another physically, financially or mentally. These three terms are commonly referred to as the damages resulting from the injury. A settlement is referred as a verdict of a cash award. This can oftentimes come through negotiations, arbitration or taking the case to court. The ultimate outcome is to reach a “settlement” in which legal representation can get their client fair and full compensations for the damages.

When 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 a monetary investment in hopes the case will have a favorable result. The investment is paid back in full with interest attached only if the case is won. Because many injury settlements are lower dollar amounts companies tend to deal in high volume.The more cases they fund the more in interest they will make.

Additional information regarding an injury settlement:

  • Injury settlements should be paid back only if you win your case.
  • No matter the circumstance, your attorney will be the first to take proceeds from the case. This means your attorney will receive the contingency fee before the loan is repaid. If the amount of the loan is less than the cost of the attorney, you don’t have to repay the loan.
  • If the amount of money your receive is lower than the loan amount, you don’t have to pay back the remainder balance of the loan.

This type of lawsuit funding is most commonly referred to as non recourse funding. When you are seeking injury settlement funding a bank, credit card company or other financial groups won’t lend money against pending lawsuits. The process to apply for an injury settlement is unlike the approval process for a bank loan or credit card. The approval process is not based upon credit reports or credit history, rather its based upon the strength and net worth of your case. Whether you have bad credit, no credit or have filed for a bankruptcy, its irrelevant. The lender will evaluate your case and make a decision based upon the strength and net worth of a case whether they will provide injury settlement funding.

The stronger the case the better chance for an approval. The higher the net worth of the case the better chance for a larger monetary advance.

Content provided by LawLeaf:

If you are currently looking for additional information on an injury settlement visit LawLeaf today at http://www.lawleaf.com. LawLeaf is a legal funding service that matches plaintiffs with lenders. At LawLeaf our lenders compete for your business.

Construction Accident Lawsuit Funding

When someone applies for lawsuit funding for a construction accident most people assume a worker was injured. While many companies provide construction accident lawsuit funding to workers in the form of a workers compensation loan, how about the person or pedestrian that was walking by a construction site and was injured.

In the legal industry the term construction accident is mostly referred to as a personal injury. A personal injury resulting from a construction accident can be referred to both pedestrian accidents or workers compensation cases. When someone is injured whether it be that of a worker or a pedestrian legal action can oftentimes taken. Some of the most serious personal injuries are that of construction accidents. In facts statistics show there are tens of thousands of accidents which occur on a work site that result in serious injury and wrongful death each year. These types of injuries oftentimes can result in amputations, broken bones, head, neck and back injuries.

When a worker has been injured on the work site they will more than likely seeking workers compensation checks before they are able to return to work. This process oftentimes require the plaintiff to hire legal counsel to claim full benefits and compensation for such injury. While most lawsuit funding companies provide cash advances for workers compensation cases the lender is limited to loaning money in certain states.

When a pedestrian is injured in a construction accident they will file suit as a personal injury and seek compensation by the builder or construction company. It is important that when applying for construction accident lawsuit funding to understand which type of cash advance to apply for. While workers compensation lawsuit funding can only be applied in certain states, construction accidents that occur to pedestrian can be applied to all 50 states.

There are many different options to consider prior to filing a personal injury claim. Depending upon the severity of the injury, you may want to seek legal representation for an attorney that has handled similar cases. The attorney will file suit on your behalf in go through the correct processes in order to give you the best shot at getting full compensations for your injuries. During this process your attorney will recommend you seek ongoing medical treatment prior to reaching an agreement with the defense team.

Once an agreement is made and compensation awarded, you will pay a percentage of the proceeds to your attorney  (commonly referred as contingency fee). However there are cases in which the defense will not agree to the terms and agreement of the plaintiff and the case will proceed to go into court. During this period is when most plaintiffs that are in need of money will apply for a lawsuit cash advance for their construction accident.

The process in receiving a lawsuit cash advance for a construction accident can take less than a few days and in some cases the same day. This payment is similar to contingency fees in that you only pay back the loan to the company if your attorney wins a cash award.

Content provided by LawLeaf

If you are currently seeking construction accident lawsuit funding we invite you to visit our website at http://www.lawleaf.com. LawLeaf is an on-line service that matches plaintiffs seeking legal cash advances to lenders willing to compete for their business.

Lawsuit Funding

Lawsuit funding can be defined as a cash advance against a pending lawsuit. The most common lawsuit funding types are those cases involving a personal injury. There are several benefits to those whom qualify for lawsuit funding. First, lawsuit funding for personal injury cases are typically loaned on a non-recourse basis, meaning you don’t pay back the loan unless you win your case. Second, lawsuit funding can help pay for medical expenses, rent & mortgage payments, car loans and other related living expenses. Third, for those people that are in immediate need of cash, lawsuit funding can help you keep your case open without having to settle for less compensation.

Too often people settle their cases prematurely because they are in need of money. They oftentimes don’t consider the repercussions of ongoing medical expenses and other expenses directly related to the accident. Its important to understand once a case is settled, you can’t receive additional compensation for costs associated with the accident at a later time. You have one shot and one shot only to get the full and fair amount of compensation from the accident.

An experienced personal injury lawyer will advise the plaintiff to seek medical attention immediately after an injury has occurred. They will also advise you never to settle a case prior to seeking medical evaluations and ongoing physical therapy if needed. During this phase a personal injury case can become slow moving. It is always recommended that you never settle your case until you have a good indication of the total expense surrounding the case.

While lawsuit funding isn’t for everyone it certainly can help those individuals that are not in the financial position to wait until a settlement is reached.

The 4 different types of lawsuit funding options include pre settlement funding, structured settlement annuity payouts, commercial litigation financing and law firm loans.

  • Pre-settlement funding – personal injury related accidents
  • Structured settlement annuity payouts – case has already settled and advancement is against monthly or yearly payouts
  • Commercial Litigation – includes cases such as breach of contract, class action and discrimination cases
  • Law firm loans – advancement to help build a practice or advancement for lengthly litigation cases

Content provided by LawLeaf:

LawLeaf is an on-line legal funding service that matches plaintiffs and attorneys looking for cash advances with our network of lawsuit funding companies. If you are currently searching for additional information or considering applying for a lawsuit funding, visit LawLeaf today.

Lawsuit Funding Website

As most of you know, I report on new and cool services relating to the legal industry. I had the opportunity to talk to the folks at LawLeaf on Friday. LawLeaf is an online legal funding service that matches people looking for pre-settlement cash advances, structured settlement annuity advances, commercial litigation funding and law firm loans. Based upon my conversation, LawLeaf does not provide the cash advances rather they match you with their “network” of lenders.

What does this mean to you? According to them, most people that apply for legal funding will search several companies before applying to only one. There are some people that do apply to multiple companies but usually this happens after the first company denies their request. With LawLeaf, you apply once and they will send your application to several different lenders increasing the chances of an approval. LawLeaf also said that many times the rates and payouts for each company are different so it makes sense to shop around rates and payouts for a cash advance. Their value proposition is that their lenders are ready to compete for your business.

I’m not too familiar with legal funding but apparently its a huge business. While legal funding is not for everyone, it oftentimes may help if you’re in financial distress and can’t wait for your personal injury case to settle.  I guess the way the economy has been of late, legal funding is certainly an option to consider for some people.

For me, I hope that I’ll never need to use legal funding as an option. The rates for most legal funding loans are typically a little higher than the standard loan. The reason is that most companies provide what they call “non-recourse funding” meaning you don’t have to pay them back if you don’t get a settlement. Very much like a personal injury attorney, you don’t pay unless you get compensation.

In closing I really like the idea that you can submit once and your information is sent out to several companies that are willing to compete for your business. It also behooves you to seek funding from several lenders so you can shop for the best rates.  With LawLeaf they will evaluate your case and send your case to selected lawsuit funding companies. Those lenders will take it from there and get the necessary information from your attorney to determine the amount of money they will loan (if approved) and the rate you will have to pay back if you get a cash settlement from the lawsuit.

This to me is a win / win for those seeking a lawsuit cash advance. Check them out at http://lawleaf.com.

Lawsuit Funding Lenders

There are a variety of different types of lawsuit funding in the legal arena. These types of lawsuit cash advances can consist of pre-settlement funding, structured settlements, commercial litigation and law firm loans. The difference between these types of funding is contingent upon each case.

Pre-settlement funding is typically a cash advance by a lender for a pending lawsuit case. These cases are almost always personal injury related cases. Personal injury related cases can include car accidents, slip & falls, medical malpractice, workers compensation, wrongful death and other catastrophic injuries. Lawsuit cash advances are determined by the strength of your case, because typically these types of loans are non-recourse loans. Non-recourse funding can be defined as lawsuit funding that you pay back only if you receive compensation from your personal injury case.

Structured Settlements funding is very popular in the legal funding arena because this type of funding is much safer for the lender than that of pre-settlement funding. Legal funding companies provide both structured settlement funding and structured funding annuity. These companies can provide cash advancements for several monthly payments or purchase the life of the structured settlement or annuity.

Commercial litigation funding provide funding to companies that are in need of cash advances against cases such as wrongful termination, breach of contracts, class action, discrimination and product liability. The money you get from commercial litigation funding are typically used towards the trial, expenses, company growth and employee salaries. These loans typically range from the thousands of dollars into the millions.

Attorney Funding or Law Firm loans are very popular to those attorneys that take on contingency fee cases such as personal injury cases. A personal injury case can go on for years and without a steady flow of cash coming into the firm, financial hardship can happen. Lenders that provide attorney loans typically offer several different services including financing, funding and lines of credit. This funding can be used for trial expenses, company growth, employee salaries and personal everyday expenses.

Whether you are seeking cash advances as a person that has been involved in an accident or an attorney seeking a line of credit, legal funding can help. Regardless of the loan its important that you understand that each lending source charges premiums or interest on their payouts. Some companies offer non-recourse funding while others offer limited recourse loans. These types of loans are dependent upon the loan type.

When you are seeking a lawsuit cash advance its also important that you consider shopping payouts, rates, payment schedules and contract terms and agreements. You give yourself the financial advantage of doing your homework and finding the right funding sources for your case.

LawLeaf is an online legal funding service that provides the consumer options. LawLeaf works with lenders that will compete for your business. We match you with the Right lending companies based upon the amount of money requested and your case type. For more information on lawsuit funding and LawLeaf visit our website at http://www.lawleaf.com.

Personal Injury Lawsuit Loans

Personal Injury Lawsuits

If you decide to hire a personal injury lawyer it is up to the lawyer to prove fair compensation is owed to you due to the accident. Typically someone that is seeking a personal injury lawyer contact a lawyer because they or a love one has suffered an injury or wrongful death due to the negligence or wrongdoing of another. When people that are going through financial hardship those people have options. A lawsuit funding company can help secure a pre-settlement cash advance for personal injury related cases, also known as a lawsuit loan.

While a personal injury lawyers’ focus should be to get full compensation for their clients a lawsuit funding company should help secure pre-settlement funding for a person looking for a lawsuit cash advance. While most of injury claims are settled out of the courtroom it is extremely important that you hire a lawyer that is not only a professional negotiator but also is tenacious in the courtroom.

A personal injury lawsuit can be very challenging, and anyone who believes they can handle these sorts of claims on their own, obviously hasn’t gone through this process.  One challenge is dealing with the insurance company. While many insurance companies are quick to offer settlements we always recommend contacting a personal injury lawyer prior to taking a settlement from an insurance company. Insurance companies often offer little settlements in hopes that the victim that will take the settlement and close the case. However, without representation how do you really know what is “fair.”

Personal Injury Lawsuit – These steps may vary depending upon your case

The steps in a personal injury lawsuit typically starts with sending a letter to the guilty party, notifying them they are be held responsible for your injury. The letter will outline exactly how the injury has effected our client and the financial burden it has put on our client.  Lawyers typically will give them a deadline of 30 days to respond to our request. This letter typically will outline the injuries and financial burden amongst other information pertaining to the accident.

Discovery Process
The discovery process is when both the plaintiff’s team and defense team gather the evidence of the accident. While going through this process both teams have full access to their findings. These findings include:

  • Medical records
  • Police reports
  • Ambulance reports
  • Depositions
  • Witness statements
  • Pictures

Arbitration – A non-court procedure for resolving disputes using one or more neutral third parties — called the arbitrator or arbitration panel. Arbitration uses rules of evidence and procedure that are less formal than those followed in trial courts, which usually leads to a faster, less-expensive resolution.

Mediation – A dispute resolution method designed to help warring parties resolve their own dispute without going to court. In mediation, a neutral third party (the mediator) meets with the opposing sides to help them find a mutually satisfactory solution. Unlike a judge in her courtroom or an arbitrator conducting a binding arbitration, the mediator has no power to impose a solution. No formal rules of evidence or procedure control mediation; the mediator and the parties usually agree on their own informal ways to proceed.

Trial – taking the claim to a judge or jury.

Jury Selection – During this process the judge will present a questionnaire for the jurors. The judge has the right to eliminate potential jurors based on their responses. The plaintiff and the defendant may also eliminate a certain number of jurors based upon their background and questioning.

Presentation by Plaintiff: Presentation of the case to either the judge or jury. During the presentation we will present the information from the discovery process. We will also provide to the judge or jury how the injury has affected our client, and why our client should be compensated for the injury.

Presentation by Defendant: During this stage the defense team will make points for why their client should not be held liable.

Rebuttal by Plaintiff: After the defense team has made its presentation, our team will have the opportunity to present rebuttal witnesses. The rebuttal is limited to new issues and facts raised during the defendant’s presentation. We will have the opportunity to go over the defendant’s side of the story a second time. During this time we will make points against the defense team’s argument.

Closing Arguments: During this process our lawyers will point out important facts and points of the trial. We will further explain to the jury of why the defendant should be held liable for damages resulting from the incident.

Jury Instruction: If the case has been brought to a jury, the judge will explain the laws that are potentially being violated.

Jury Deliberation: The jurors will meet and determine whether the defendant should be held liable for the damages.

Verdict: The jury announces their decision.

Judgment: During the judgment process the plaintiff will find out the amount of the award. It could be the entire amount requested by the plaintiff team, or it could be less than the requested amount.

Appeal: Both the plaintiff and the defendant have the right to appeal the decision if they lose the case.

Below are example of compensation in which a personal injury attorney will fight for relating to your accident:

  • medical expenses
  • loss of wages
  • loss of job
  • cost of aides
  • cost of physical therapy
  • cost of counseling
  • ongoing medical expense
  • pain and suffering
  • property damages
  • hospital bills

Below are a list of different types of personal injury cases:

  • Animal & Dog Bites
  • Amusement Park Accidents
  • Assault and Battery
  • Automobile Accidents
  • Asbestos
  • Aviation Accidents
  • Boat Accidents
  • Birth Injuries
  • Brain injuries
  • Bus Accidents
  • Car Accidents
  • Catastrophic Injuries
  • Construction Accidents
  • Defective Products
  • Drunk Driving
  • Medical Malpractice
  • Mesothelioma
  • Mold
  • Motorcycle Accidents
  • Pedestrian Accidents
  • Personal Injuries
  • Premises Liability
  • Railroad Accidents
  • Slip & Fall Accident
  • Swimming Pool Accident
  • Tractor Trailer Accident
  • Truck Accidents
  • Workers Compensation
  • Wrongful Death

If you have been involved in a personal injury and seeking a pre-settlement cash advance prior to you case settling, you can visit our lawsuit funding site today for more information. For additional information on personal injury lawsuit funding your can visit our lawsuit funding blog.

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