Those involved in a lawsuit may wait months or even longer before reaching a settlement; in the meantime, creditors aren’t willing to wait for payment and you have bills, medical costs and other expenses that must be met. At Mayfield Settlement Funding, lawsuit funding is our specialty. When you are facing legal expenses and other financial obligations that seem insurmountable, lawsuit funding loans allow you to get the money you need immediately. You only repay the loan once your lawsuit reaches settlement and you begin receiving your money.Lawsuit funding is designed to assist individuals who need money now, and who cannot afford to wait until their settlement is reached. Court proceedings are often long and drawn out; even when it is clear that you will be awarded a settlement, it often takes weeks or months for defense attorneys to agree upon the final terms of the settlement. Lawsuit funding is one option available to plaintiffs who need money immediately; if approved, you can borrow against your expected settlement and repay the money only when your case has been won and settlement money is dispersed.
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Most lenders offering lawsuit funding approve loans only to those whose case merits a loan; lawsuits that are considered frivolous typically do not qualify. Because of this careful screening process, a guarantee is offered to the borrower that they will not be responsible for repayment of the loan if their case is lost. Some lawsuit funding companies work only with specific legal groups or attorneys and their clients, while others provide services to any individual who is facing a legal battle and needs money right away.
Additionally, lawsuit funding can help with the payment of legal fees when these costs are not covered in the expected settlement. While it helps lift the burden when you can pay medical expenses, household bills and other costs, legal fees can be substantial. Even upon reaching a settlement agreement, it can take months before funds are dispersed; lawsuit funding helps cover legal fees, medical bills and other financial obligations that require payment prior to receiving your money. You only repay the loan once your settlement money begins being dispersed, according to the terms of the agreement with the lender when the loan was taken out.
At Mayfield Settlement Funding, we know that lawsuit funding is a great option for those who need money now and cannot wait for a settlement that is tied up in litigation. While there are numerous lenders who specialize in this type of funding, we offer low interest rates and fees so that you keep more of your own money! If you do not win, you owe us nothing – it’s as simple as that.
Call us at (855) 851-5249 or visit our immediate service page to have one of our
friendly Lawsuit funding specialists assist you today.