One of the benefits that most insurance companies and defendants in lawsuits have to their advantage is attempting to extend out the time period for settlement for clients that are cash strapped. Often times insurance companies can extend out the time for settlement which statistically increases the chances that the plaintiff will take a much smaller sum of money.
Lawsuit Loans are not technically loans, they are pre-settlement funding. There is no credit check required or income either. This is because lawsuit loans are simply a cash advance on your litigation or your lawsuit.
How are Lawsuit Loans typically used by plaintiffs?
The most effective way to use a lawsuit loan is to obtain enough money to properly fight your case with your attorney. We recommend that you discuss with your attorney a reasonable amount of time needed to settle your case. This will allow you to add up your monthly expenses and needed income to hold you over until you can properly settle your case.
Often times after a personal injury case or employment litigation issue, the plaintiff may not be employed. This is where the lawsuit loan becomes valuable, since the party that is on the defense knows you need money to survive.
Ideally, you want to take a smaller advance, however; you don’t want to take too small of an advance that you run out of financial resources too early before you can settle your case.
Contact one of our pre-settlement funding specialists today for a free evaluation and a quick and easy application!