Lawsuit Funding

You can contact a financing company for a traditional loan for personal expenses, such as education or housing, but what do you do for lawsuit funding if you can’t pay for it yourself? In these circumstances, you may qualify for a non-recourse, pre-settlement funding, which is similar to a loan. Before you make a decision, you should consult lawsuit funding options with your lawyer.

Lawsuit funding can be obtained through a lawsuit cash advance, which works like a loan, but with no risk. If you lose the case, you owe nothing. Also, this kind of lawsuit funding is easy to obtain; good credit and employment is not required.

The amount of money a plaintiff receives with pre-settlement lawsuit funding varies among each company and the type of case. Pre-settlement funding typically offers between $500 and $25,000. However, a select few offer up to $100,000.

You have two options for repaying pre-settlement lawsuit funding: flat fee and a recurring fee. With a flat fee, the plaintiff and financing company agrees upon the amount that will be repaid from the verdict or settlement. The second option is paying a recurring monthly fee.

Lawsuit funding usually comes from the law firm. The firms pay for filing fees, service fees, expert witness fees and other expenses. However, clients usually have to pay for the hourly fees of the attorney themselves.

Conclusion

Before you decide that a non-recourse, pre-settlement is the best option for lawsuit funding, keep in mind that companies choose their cases carefully because of the risk involved. A non-recourse pre-settlement funding is your best alternative after all other lawsuit funding options have been exhausted.