Your Lawsuit Funding Options
Mar 17, 2010
There are a number of reasons why lawsuit funding has become more popular now than ever. To start with, there have been more lawsuits than ever before. Where people used to take the time to make sure that things were done properly, and where they used to create sturdy products, now we are seeing more and more people getting injured or harmed due to negligence.
Another reason why lawsuit funding has become such a phenomena is because of the insurance companies. Defense attorneys, are getting better at being able to help their clients to keep the money that they have. They know how to stall cases and how to do everything possible to make sure that the plaintiff doesn’t get their hands on a settlement until the very last possible minute. This is causing plaintiffs to become desperate and to actually accept lower settlements than they have to, just to be able to get the money that they need to survive.
When a person brings a lawsuit to court, they need to know that they will likely have to wait for a long time in order to get the funds that they’re trying to get. This type of funding is a financial arrangement that occurs between the plaintiff and a lender or an investment company. It is different from a loan because there are no monthly payments, but is instead paid back when the case is won.
Another thing that is very different about lawsuit funding is that, in cases where the plaintiff’s case does not win in court or receive a settlement, they do not have to pay back any funds that they have received from their funder. This is because these companies screen their clients very carefully in order to make sure that they only select plaintiffs who have a very good chance of winning their cases.
The Different Types
When you start researching lawsuit funding, you’ll learn that there are four different types of lawsuit funding that you can select from. Pre-settlement funding is given before a settlement has ever been decided upon. Structured settlement funding can be used to help plaintiffs to get money that they’re owed after a settlement has been agreed upon without having to receive the amount in small increments. Commercial litigation funding can help a plaintiff to go up against a large company by giving them the funds that they need to stay afloat. Finally, there are law firm advances.
In order to figure out which option is best for you, it is a good idea to contact Lawsuit Hotline. They will help you to understand a bit more about lawsuit funding as well as helping you to select the right lawsuit funding option for you.