Saturday, April 15, 2017
If you have had any experience trying to obtain legal funding, you know how painful this road can be to go down. It can be downright impossible to get lawsuit funding, much less fast. The upfront fee itself is enough to deter someone who is in need of funding for a lawsuit.
The benefits of direct lenders
A direct lender can process your case more quickly. Sometimes your lawsuit loan can take as little as one day to approve. There are no employment checks, credit checks or income verification. Depending on the lender, you might not have to pay your lawsuit loan back if you don’t win the case.
A lawsuit loan is not the same as a normal one. One reason is that the benefits are often much more than the disadvantages. You can use case advances to cover living or medical costs. A lawsuit loan can save your life if you have suffered an injury and are unemployed. You can also use it to pay your rent or mortgage.
By getting a lawsuit loan, you don’t have to succumb to the pressure put on you by your insurance company after sustaining an injury. One never plans an injury, and it can change your life – not only financially, but also emotionally. Insurance providers know this and take advantage, pushing you to settle early for a smaller sum. A lawsuit loan can help you obtain a better settlement because it will help you cover your medical costs and costs of living. You would otherwise not have been able to do this and may have been forced to settle early as a result. A case advance can give you negotiating power against the company because your lawyer will have more time to look at the full value of your case.
If you lose the case, you might not have to repay the loan. If you win, your lawyer will pay the direct lender from your settlement proceeds.
No credit checks
Why are there no credit checks on lawsuit loans? This is because case advances are not considered loans. There is no personal liability for the loan, and the only important thing to the lender is the actual value and quality of your case.
You should be able to get quick approval if your lawyer can provide the information requested by the funder quickly. If he / she has done so and the company is taking too long to respond, you are better off looking elsewhere.
What types of cases are funded?
Cases that are funded include, but are not limited to car accidents, motorbike accidents, bicycle accidents, pedestrian accidents, sports injuries, premises liability, lawsuit loans involving defective medical devices, cases involving pharmaceutical and / or prescription drugs and more.
Qualifying for a lawsuit cash advance
How do you qualify for a lawsuit cash advance? This depends on the stage and quality of your case and the extent, to which your lawyer cooperates with information collection. As a rule, case managers evaluate each funding application individually, on a case by case basis.