The Hassle of a Commercial Lawsuit
Helped by Lawsuit Funding
Mar 17, 2010
The business and commercial world is not one that is perfect, and this is easily seen. Every time you turn around you will see someone fighting with one company or another. Sometimes these disputes are frivolous, but other times these disputes are valid and can become a very expensive lawsuit. Commercial disputes that are large can turn into litigation, and once it does it becomes a very giant thing, with a number of attorneys involved, expert witnesses, and a great deal of other things that makes the entire situation like a three ring circus.
The Attorney
If you have decided that you have a valid case for a commercial lawsuit, it is best to hire an attorney who has a great deal of experience in commercial lawsuits. Unfortunately these lawyers aren’t cheap, and paying for them can be very difficult. There are some who will work on a contingency fee arrangement, and that is a type of lawyer that you should look for. This means that you do not have to pay your lawyer unless they win or settle the case. You may find that you are charged for court costs and for expenses, so it is a good idea to read the fine print before you sign with any law firm regarding your commercial lawsuit.
One of the biggest problems for people involved in a commercial lawsuit is their cash flow. Many times expenses that are related to the litigation can drain the plaintiff’s assets, and all too often these plaintiffs, who could have received a great deal of money if they were able to hold out, settle for a very low settlement in order to get the funds that they need to survive today.
Commercial Lawsuit Funding
There is, however, a way that someone who has a commercial lawsuit can get the funding that they need to help pay for living expenses, or to help to keep their bank account from being drained. Commercial lawsuit funding is a way to get the funds that you need while you’re waiting for a win or settlement from your case. Commercial lawsuit funding is sometimes also called a commercial lawsuit advance or a business litigation advance. This is a cash advance that is given to you from a funding company that does not have to be paid back unless you win.
A company who gives you an advance amount, even before your settlement is reached, will get back the money that they have advanced you when your case wins. Once it wins they will take back the funds, with the agreed upon payback, and you will receive the rest of the money. Commercial lawsuit funding carries no risk because, if you lose the case, you owe nothing, and it provides immediate funds in order to help you to survive financially during the time that it takes for your lawsuit to reach a conclusion.