What Is a "Lawsuit Loan"?
Often individual petitioner and commercial litigants require
financial assistance prior to settlement or judgment. Lawsuit
loans are the best option for them. A lawsuit loan, or
pre-settlement funding, is one option for people involved in a
lawsuit to finance their daily needs. A lawsuit loan is advance
money given to litigants who are trying to claim their rights
through a lawsuit.
Lawsuit Loans can also be called as No Risk Loans. Actually these
are not loans because the money does not have to be paid back
unless the case is won. Therefore there are no monthly payments.
There are no credit checks before loan acquirement; you do not
have to worry if you have bad credit.
Lawsuit Loans are relatively new source of financing which is now
available for both individuals and business owners. This lawsuit
financing, is referred to as lawsuit loans. Lawsuit loans help
clients who are having financial difficulties. Lawsuit funders do
not require credit checks, monthly payments, notes, or any other
All types of cases do not qualify for this type of loan. Few cases
that qualify for Lawsuit Loans are:
- Wrongful Termination
- Personal Injury: Automobile Accidents, Any Type
- Workplace injury
- Malpractice: Medical-Legal, Accounting, Construction,
- Harassment: Sexual/Rape, Any Type
- And much more
There are a handful of companies that provide lawsuit funding. All
lawsuit funding companies will provide funding for personal injury
lawsuits. But there are very few that will fund commercial and
other non- personal injury lawsuit cases.
You can get lawsuit loans from several banks and private
institutions. The amount of loan you get will be a percentage of
the total amount of your lawsuit. The lenders will look at your
legal case and determine how much to loan you. You should always
involve your attorney in this process, both in terms of finding a
lawsuit funding company which will offer the best possible terms,
and in having your contract with that company reviewed before you
In the past, claimants had to accept lesser settlement amounts due
to pressing financial difficulties. Now, clients can sustain their
personal lives and give the attorney the necessary time to achieve
the full value of the case by acquiring lawsuit loans.
lawsuit loans are very beneficial infact essential when the client
needs funds to pay medical bills, obtain health care, to pay the
rent or mortgage, or even to buy food.