Litigation funding is a way for plaintiffs to get access to cash needed before receiving a settlement. Because a wealthy defense litigant – big business and insurance companies – can outspend the average citizen, litigation funding may be the only hope to pay the bills while maintaining a fight for fair compensation. Lawsuit Financial does not “lend” money; it invests in lawsuits. While a plaintiff is required to potentially pay back a higher return than average on the advance, remember we take the risk of complete or partial loss. In our opinion, the pros for litigation funding far outweigh the cons.
Pros
• Immediate financial assistance when you need it most. Pay immediate bills and expenses – mortgage, rent, auto payments, medical bills, daily household expenses; stop creditor calls.
• Quick turnaround time – typically within 24 – 48 hours
• The only requirements when seeking lawsuit funding is to have an ongoing case and retain an attorney.
• No need for a credit check. Unlike a bank loan, bad credit doesn’t matter.
• No need for employment verification
• No need to be pressured into an early, smaller settlement. Litigation funding allows you to fight for compensation you deserve.
• No risk to you. Funding is on a non-recourse basis meaning that the repayment obligation is contingent on you winning the case. Lose and the repayment is waived.
• Repayment comes from the settlement, not upfront and not through monthly payments.
Cons
• Litigation funding can be expensive. This is because the funding company assumes all the risk and must off-set any lose with higher rates.
If you are strapped for cash, do not settle for less than case value. Litigation Funding Corporation may be able to provide you the needed cash to wait for the legal system to do its job. To apply for litigation funding, complete and submit our online application. If you have additional questions or concerns, we encourage you to call our office toll free, at 1-866-LIT-FUND for a free, no obligation consultation.
