Lawsuit Funding Companies
– Tips For Getting Funding

Mar 17, 2010

Lawsuit funding has become a very popular way to get money before a lawsuit has reached a settlement. It allows the plaintiff to have access to cash long before the settlement has been reached, which can help them to pay off medical bills, monthly bills, or other living expenses. But not everybody is an ideal candidate for lawsuit funding. If you’re interested in using lawsuit funding to help you while you are waiting for a settlement to be reached, here are a few tips that will help you to get your application approved by the lawsuit funding company that you have selected.

Tip #1:Filling Out the Application

One of the biggest reasons why many people get turned away by lawsuit funding companies is because they have not filled out the application properly. Most of the applications are fairly easy to fill out, but too often people rush through the application process, eager to get things underway, perhaps, and make a simple mistake which can make the process take longer than it should, or which can get them turned away from the company. When you’re applying for lawsuit funding, make sure that you fill out the application properly. Take all of the time needed in order to get the application done right. You may even want to have a friend or family member double check the application to ensure that it has been done properly.

Tip #2: Be Timely

Once the application process is completed, the request will go to the underwriters. The underwriters are the ones who are ultimately responsible for deciding if you are going to get the advance or not. If they request something from you, it is best to get what they have requested to them as quickly as you possibly can, so that they can do their job. The longer it takes you to get the information to them that they need, the greater the chance will be that they will refuse your advance on account of not having enough information.

Tip #3: Paperwork

Underwriters decide if you are going to get the lawsuit funding advance not based on your credit score or employment, but on the likelihood that your case will be won or a settlement will be reached. In order to make a decision about this, they need to have access to some of the information about your case. This includes expert reports, witness statements, police reports, medical records, and anything else that can help them to get the full picture of your case. It is this type of information that will help them to decide if your case is one that is likely to win or not. It is also a good idea to let your lawyer know that you plan on looking for a lawsuit funding advance, so that they can have all of the information that you need available for the underwriter to peruse.