How Lawsuit Funding Or Lawsuit Loan Helps Plaintiff, Waiting For Settlement?
If you are a plaintiff involved in a lawsuit, and are represented by an attorney, you may be eligible for settlement loan, lawsuit fundingor lawsuit loan on your pending lawsuit settlement. What is the Definition of Lawsuit Funding or Lawsuit Loan? Lawsuit funding is nonrecourse cash funding made directly available to the plaintiff before his/her lawsuit comes to its final settlement. It could be advance funding made available before arbitration, a trial or hearing, or it could be funding made available during the appeals process. How Settlement Loan or Lawsuit Funding Helps Plaintiffs? Since deeppocket defendants can buy more and more time with legal ploys and delays, plaintiffs are often pressured financially. Because medical bills and other expenses like mortgage/ rent, car payments, children education expenses and other monthly bills, not to mention lost wages, add up to a budget stretched beyond its limits. This, in turn, can cause a lot of emotional and mental strain on the family or on their business.
If you are a plaintiff, involved in a lawsuit, you have a right to know about the safest, norisk option available to get the money you need now to relieve financial pressures. What are the Alternatives? People who need cash funds while waiting for a lawsuit to be resolved and a fair settlement to be paid have a few options, but some carry more risk than others. 1. Family Members or Friends: You can borrow money from friends or family: This also is high risk, especially if, you lose the lawsuit. You will still owe your friends or family, and you may not have the money to pay them back. 2. Credit Cards: You can use your own credit cards: This is an expensive alternative and can actually put you even more at risk if the lawsuit takes longer than you anticipate to be settled. You still have to pay your monthly credit card bills. And you could wind up owing money you if you are not able to repay. 3. Bank Loan: You can take out a bank loan: Banks do not generally make loans against future lawsuit settlements, but may offer a personal line of credit to individuals, based on their financial situations and credit worthiness. Often, lawsuit plaintiffs are not in a strong enough financial position to qualify for this type of signature loan. Even if you do qualify, you have to start paying back a bank loan right away and continue making payments until it is paid off, no matter when you receive your lawsuit settlement and even if you lose your case and receive no money. 4. Home Equity Loan: You can obtain a home equity loan or second mortgage: This option is extremely risky. If for some reason you do not win your case, you could lose your home. 5. Personal Financing: In all cases where you have to qualify for personal financing based at least in part on your credit history, you must consider the possible consequences in the future. But to obtain a lawsuit loan or lawsuit funding, you do not need good credit rating or any employment. Unfortunately, none of the options listed above solve your immediate financial problems without risk. In fact, each one could actually add to your financial burden and the emotional stress on your family.
What your attorney needs, in order to get you the best settlement or fairest trial, is time. Just as the defendants can buy time, so can you. Lawsuit funding or settlement loan, allows you to get relief from financial pressure so you do not have to settle your case simply because you need whatever money you can get now. Pearl of Wisdom: There is no reason to settle for less than your lawsuit case is worth. Lawsuit funding or a lawsuit loan empowers plaintiffs and their attorneys to pursue their lawsuit cases in order to get the maximum settlements they deserve. Would you like to learn more about lawsuit funding and settlement loan? Visit our website http://www.easylawsuitfunding.comto get additional useful knowledge and information about lawsuit funding and lawsuit loan and make an educated decision to apply for your settlement loan or lawsuit funding today!
Published on May 10, 2012
Lawsuit funding is non-recourse cash funding made directly available to the plaintiff before his/her lawsuit comes to its final settlement....