Sneak Peek of the Lawsuit Funding Process

February 13, 2014, 8:00AM. By Mark Bello

If you are a plaintiff in a pending lawsuit, you may be facing financial difficulties due to loss of income and medical expenses. You many have heard of a lawsuit cash advance, but don’t really know what it is. Before applying for lawsuit funding, let’s take a “sneak peek” to see if it is right for you.

Step One: Retain a personal injury lawyer, if you have not already done so. You must be represented by an experienced attorney to obtain lawsuit funding.

Step Two: Do your homework. Look for a well-established legal funding company with a long history of success even in difficult times. Compare rates, fee structure and terms of the contract; the lowest rate may not always be the best deal.

Step Three: Once you have selected a funding company, complete an online application or call their office. The one-page application is quick and easy, requiring name, phone, address, and qualifying questions about your case, such as attorney’s name, type of case, date of the accident, injuries incurred, and the date the lawsuit was filed.

Step Four: After your application is received, the lawsuit funding company will contact your attorney for documentation on your case. Once this documentation is received, the underwriters will review the merits of your case. There is no need for credit checks or employment verification because the funding decision is based solely on the strength of your case.

Step Five: If approved, you and your attorney will need to sign a contract before funds can be released. It is important to review the details of the contract to make sure you clearly understand the terms and conditions. Funding can usually be wired into your bank account within 24-48 hours after approval.

Step Six: Pay your bills, take care of your physical and emotional needs, and wait for your case to settle. You owe nothing to the funding company until your case successfully settles, at which time repayment will come from the proceeds of your case. A lawsuit cash advance is provided on a non-recourse basis, meaning that if you don’t win your case, the repayment is completely waived.

If you’re in the middle of an ongoing personal injury lawsuit, lawsuit funding may be able to give you financial leverage to withstand the litigation process.


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.