Lawsuit Funding You Can Count On
By Space Coast Daily // June 29, 2022
Did you know that it may be possible to receive funding for a lawsuit you file before it has even been finalized? Of course, this is true, and people always do it. It is considered a smart way to get the funds you require to move forward with your case. After all, most people find themselves relatively strapped for cash when it comes down to it, and knowing that they can turn to a provider of lawsuit funding is something that brings them some relief.
How a Lawsuit Loan Works
People with a legitimate claim to bring to court in search of compensation will often seek significant damages to be paid out to them for the trouble they have been through. Unfortunately, people who have a claim like this lined up in the court may find that they need some immediate funding as quickly as they can get their hands on it.
They would like to see their case through to the very end, but they may not have the capital required to wait it out while it works through the courts. This kind of thing is fairly common, which is precisely why the lawsuit lending industry has sprung to life to help people out.
When someone has a lawsuit that seems likely to win a judgment or a settlement, they can bring their case to a lawsuit lending company and see if they qualify to receive some funds.
The lender will review the case and determine the expected outcome and how much money they think the individual is likely to be awarded. They will then make a lending offer based on their calculations. Once this has been done, the lender may meet up with your lawyer to discuss the case and ask your lawyer to sign off on the paperwork to get the money to you. Remember, it is a requirement that your lawyer signs off on the lawsuit loan before you are allowed to receive funds.
Only Qualified Cases Will Receive Funding
An essential aspect of this whole thing to remember is that only genuinely qualified cases will receive an offer of funding. Lenders are wary about lending out funds to people they do not believe have a legitimate chance of winning their case. They don’t want to take the risk, and it is hard to blame them.
They have a business to run, and it is not like they can assume that a case will win. They need some hard evidence that this is likely to be the case, and the only way they get that evidence is by speaking with your attorney to see where they believe you stand with the case.
After the lender is satisfied that you are likely to win your case, you will receive an offer of funding from them. At that point, you can rest assured that you are in the good hands of the lender, and you may proceed to receive your money right now.
You will pay back more than you borrowed, but those funds will come out of whatever settlement or judgment you receive, so you won’t feel the pain of the funds coming out of your pocket. You pay off the lender and the lawyer for their services, and then you are left with the remainder of your settlement to do as you please. It is a great way to get cash now so you can keep the case alive as it works through the courts.