Lawsuit Funding: 4 Things You Should Know
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Posted On :
Apr-14-2009
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Article Word Count :
498
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If you’ve been injured in an accident, been a victim of medical malpractice, elder care abuse, sexual harassment or currently have a lawsuit pending settlement, a lawsuit settlement advance can help you cover your bills, pay for out of pocket medical expenses or just put your mind at ease.
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With over $200 Billion in lawsuits estimated to be filed every year, and a Court System and legal process that can sometimes take months or years to settle, pre-settlement lawsuit cash advances are an option that can help you pay your bills, cover medical expenses or make repairs that aren’t covered by your insurance.
Here are 5 things you should know about lawsuit funding.
NON-RECOURSE LOANS
Non-Recourse lawsuit loans don’t require credit checks, employment verification or any sort of collateral and usually can be approved within 48-72 hours. The funding process is a zero risk proposition. The plaintiff doesn’t have to repay the loan until the case is settled, so there are no monthly payments. Because it is a “non-recourse loan”, if the case doesn’t settle you don’t have to repay the loan.
48-72 HOUR FUNDING PROCESS
Most lawsuit funding companies can have your funding approved within 48-72 hours of your application and a check on it’s way to you. The lawsuit funding process is pretty simple:
Step 1
Complete an online form, for example: fundmysuit.com/lawsuit-loans.html, with basic contact information for you and your attorney and the amount you are seeking. A funding representative will call promptly to get some more specific information about your case and begin the official application process.
Step 2
With your approval they will request official documentation on your case from your attorney to forward to their underwriters. Once received by the underwriters they will quickly determine your funding amount.
Step 3
Contracts will be drawn up between you, your attorney, and the underwriters involving the payment terms of the cash advance. Once executed, funds will be sent directly to you within 24-48 hours.
TYPES OF CASES FUNDED
There are many types of cases that can be funded. Car accidents, medical malpractice, elder abuse, pharmaceutical suits, slip and fall, product liability, labor law, Workman’s Compensation, sexual harassment, assault, and lawsuits involving large corporations are all examples of the types of cases that can be funded with a settlement cash advance.
FLEXIBLE LOAN AMOUNTS
Most lawsuit funding companies will provide you with a settlement cash advance as small at $1,000 and up to $100,000. You may also take several cash advances against the same pending lawsuit as your needs arise. In addition, if you have a case that has already settled, but are awaiting payments or on a schedule, you can also receive a settlement cash advance against the full amount or the payment schedule. It’s your settlement after all and your lawsuit funding broker can work with you to accommodate your litigation financing needs.
If you have a pending lawsuit and have financial needs such as medical bills, repairs, or just are in a spot you need funds now, lawsuit funding provides a fast, efficient and cost effective way to get the cash you need now while you wait for the court system to run its course.
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Article Source :
http://www.articleseen.com/Article_Lawsuit Funding: 4 Things You Should Know_397.aspx
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Author Resource :
Chuck Cocuzza is Director of www.fundmysuit.com which, through it's agents, "advances" Plaintiffs immediate cash (usually within 48 hours) against their pending Lawsuit. Our lawsuit funding process allows individuals the ability to ease their financial burdens before their lawsuit will. Visit Bridgeview Legal Funding at www.fundmysuit.com.
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Keywords :
settlement funding, lawsuit funding, lawsuit loan, lawsuit cash, lawsuit money, litigation funding,
Category :
Society
:
Society
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