Travis suffered serious injuries when he was rear-ended by a distracted driver on an Indiana highway. Travis suffered neck and back injuries and broke his left leg. He was unable to work for six months. Once he depleted his savings, the bills began to pile up. The insurance company and defense offered to settle for $10,000, but Travis knew his case was worth much more. He did not want to settle just to pay the bills, but his attorney said it could be months before the case would settle or reach a judgment.
This is when Travis’ attorney suggested lawsuit funding. Travis applied for a $2,000 cash advance. Within 48 hours he was able to pay all outstanding debt. Six months later, Travis reached a settlement of $55,000, at which time he paid back the lawsuit cash advance. If Travis had lost his case, he would not have owed the funding company anything.
For those unfamiliar with lawsuit funding and how it works, let me explain. For starters, lawsuit funding is not a “lawsuit loan,” but rather a cash advance to a personal injury plaintiff in exchange for a promise by the plaintiff to repay the amount of the advance plus interest, if and when the plaintiff receives a settlement or judgment from a pending claim. If the funded client loses the case, the advance and interest are completely waived; repayment is not required.
The strategy behind lawsuit funding is to help plaintiffs avoid feeling pressured to accept a settlement too early, for too little. In effect, it levels the playing field and buys the plaintiff time to achieve full case value. Although the cash advance can be used anyway the client chooses, typically the funds are to pay outstanding medical bills and daily costs of living, such as mortgage payments, food and other important expenses.
Unlike with a loan, plaintiffs receiving lawsuit funding do not pay upfront fees. In fact, they pay nothing until the case settles. Additionally, a legal funding company will not conduct a credit check or verify employment, because the only factor in obtaining lawsuit funding is a case with merit.
Are you in a pending lawsuit and struggling financially? To get back financial control of your life after a personal injury, check into the benefits of lawsuit funding by contacting a legal finance company expert. The application process is quick and easy, and can be done online. Once the legal funding company determines if a case has merit and the case is approved, funding can be available for use within 48 hours or less.
If you are a victim in a personal injury lawsuit and need cash to get out of debt, contact a legal finance expert for a free, no-obligation evaluation of your case and to request lawsuit funding.
Disclaimer: This article is a paid advertisement prepared by Lawsuit Financial Corp. and does not constitute legal or financial advice from Online Legal Media or LawyersandSettlements.com.
If you or a loved one have suffered losses in this case, please click the link below and your complaint will be sent to a financial lawyer who may evaluate your Pre-Settlement Legal Funding claim at no cost or obligation.