Advance Funding When You Lose
Mar 22, 2010
If you have a lawsuit pending, then you may be eligible for lawsuit advance funding. Many people considering lawsuit advance funding as a way to supplement their income until their lawsuit is settled. One of the most common questions people ask when it comes to lawsuit advance funding is:
Do I have to repay advance funding if I lose?
The answer is: It depends. If you are working with a reliable and legitimate non recourse lawsuit advance funding company, then you should only have to repay the funding if your lawyer successfully wins the case. This means that if you lose your case, you will still get to keep the funding and won’t have to pay any of it back. Any non recourse company that expects you to pay back the funding even if you have lost the case isn’t a reputable company. Unfortunately, many people fall victim to financial scams because they fail to research the lawsuit advance funding company before they accept an advance. You are already under severe financial strain when you opt for advance funding, and you don’t want to cause yourself any additional stress. Do as much research as you can about the company in question.
Lawsuit Hotline Services, LLC is a well-respected organization in the lawsuit advance funding industry. When you contact Lawsuit Hotline, you’ll be taken through a step-by-step process in order to determine if you are eligible for funding. You will meet with experienced professionals to discuss your case during a free consultation. Your attorney will also be asked to provide sufficient information about the case. Once you have been approved, then an offer amount will be made. If you approve the offer, a financial advancement agreement will be sent through to your attorney. After the agreement has been properly filled out and returned to Lawsuit Hotline, you should receive a check in the mail the very next day. This amount will serve as your advance funding while your lawsuit continues through the litigation process. Once your lawsuit is complete and you win your case, you will be expected to pay back the full amount of the funding plus any fees. However, if you do not win your case then you get to keep the full amount without having to pay it back.
If the lawsuit advance funding company you are working does not provide you with any information about their company or the lawsuit advance funding process, you may want to look elsewhere. Choosing to opt for lawsuit advance funding is a serious decision. It can mean the difference between staying out of debt and accruing more debt than you can possibly imagine. This single decision could affect your financial future for the rest of your life. Be as prepared as possible and learn as much about lawsuit advance funding as you can.