You May Benefit From Pre-Settlement Funding

Mar 22, 2010

There are many things that may happen in life that can bring you to the position of being the plaintiff in a lawsuit. If that happens, then there are some things you may be able to do to help yourself while you are waiting for the case to settle. One of the things you may benefit from if you are the plaintiff in a lawsuit, is a settlement advance.

Types of Cases That May Benefit From an Advance

There are so many different types of lawsuits that may reach a settlement and are eligible for an advance. The most common types of lawsuits are from automobile accidents, but there are many other types that are also able to be approved for an advance. Chemical injury cases such as asbestos and mesothelioma, personal injury and slip and fall accidents, and some other types of lawsuits that may be awarded a settlement, are eligible to apply for an advance.

Who May Apply

The plaintiff in any injury lawsuit may apply for a financial advance. The plaintiff is the person who brings the case to court against the defendant. The plaintiff is considered the injured or wronged party in a case, and may be awarded a monetary settlement.

How Much May Be Advanced?

How much money may be advanced depends on how much you stand to win in the settlement of the case. Usually there is a portion of the expected settlement that may be advanced, which is ten percent of the anticipated case recovery. However much is advanced, payback will depend on the case winning. When the case is won, you pay it back. If the case is not won, you don’t .

What Can an Advance Be Used For?

When you are approved for a lawsuit advance, you can generally use the money for anything you want or need. When you are involved with a lawsuit your bills still have to be paid, you still need to pay for daily expenses, such as gas for your car or other transportation needs, groceries so you can eat, and anything else that is a normal part of your life. On top of all that, you may have additional expenses, such as fees for paperwork or other things to do with the lawsuit. You can use your advance for anything, and it may help keep you from getting deeper in debt while you wait for your lawsuit to settle.

Lawsuits may not be fast moving, and may cause you to miss some days of work. You may also have missed some income opportunity, depending on why you are in the middle of a lawsuit to begin with. Taking advantage of the option to have an advance is a viable consideration to help you while you are waiting. You may benefit from an advance, and you may be surprised at how much help it will be to have the money available to you while you wait for your lawsuit to be settled in your favor.