Simple, Six-Step Process to Lawsuit Funding

June 16, 2014, 1:30PM. By Mark Bello

A day doesn’t go by where we don’t hear about a personal injury due mainly to the negligence of someone else. Sadly, many victims will never seek justice due to financial constraints; they are not familiar with the lawsuit funding industry or how to obtain a lawsuit cash advance. Lawsuit funding buys a plaintiff time by providing emergency cash when needed most, and levels the playing field to wait for a fair settlement. Whether called lawsuit funding, litigation financing, pre-settlement funding or lawsuit loan, Mark Bello, founder and CEO of Lawsuit Financial, has created a six-step process that helps victims understand how lawsuit funding can benefit their case.

Step One: You must be represented by an experienced attorney to obtain lawsuit funding. Retain a personal injury lawyer on a contingency-fee agreement. That means your attorney agrees to work for you and agrees to get paid out of the proceeds of your case. If you don’t have an attorney representing you, Lawsuit Financial would be happy to provide one in your area from our nationwide database. This is a complimentary, no-obligation service.

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 and conditions of the contract; lowest rate doesn't always mean 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: While the legal process is typically long and complex, the legal funding process is quite easy. After your application is received, the lawsuit funding company will contact your attorney for case documentation, such as an accident and medical report. 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 the case.

Step Five: If your attorney sends all necessary documentation in a timely manner, the funding company will make a decision within 24 to 48 hours. If approved, you and your attorney will need to sign a contract before funds can be released. Your attorney must agree to the legal funding transaction and to repayment out of the proceeds of the settlement. It is important to review the details of the contract to make sure you clearly understand the terms and conditions. When the contract is fully executed, funds can typically be wired into your bank account the same day.

Step Six: Pay your bills, take care of your physical and emotional needs, and wait for your case to settle. You owe absolutely 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.