Signal Legal: How can a Legal Funding Company Help Plaintiffs through Pre-Settlement Funding
There are different terms for legal financing such as third-party funding, professional funding, litigation financing, settlement funding, lawsuit loans, legal funding, and litigation funding. It is the process of financing victims of personal injury cases to help them pay for their expenses while waiting for their compensation benefit. Pre-settlement funding is very helpful, giving plaintiffs and their families a financial hand during personal injury case litigation. Pres-settlement is the time period wherein a claim is still pending or unresolved, and a pre-settlement advance is a cash loan from a future claims settlement.
Life is really difficult after being injured in an accident or because of someone else’s fault, and one way to improve your situation is to file a personal injury lawsuit. The examples of personal injury cases wherein pre-settlement applies include medical malpractice, personal injury, product liability, premises liability, motor vehicle accidents, wrongful death, and general liability. A plaintiff can contact a legal funding company and apply for a cash loan, there will be an investigation process, and once approved will be given money that can be used for any purpose. The plaintiff is only required to repay the loan if they win the case. The good things about pre-settlement funding is that a plaintiff is not obliged to pay the cash loan if he or she loses the case. The amount of cash loan you are entitled to get will depend on the amount of money that might be awarded to you after the case is completed. Many people are considering curtailing their lawsuits just because they cannot afford to pay their lawyers, medical bills, and other monthly expenses, so you really need to help of a pre-settlement lawsuit funding to help you cover these expenses until the trial is finished.
When choosing a contract rate that is basically the same as you were told first hand, and be sure to notify the funding company if the contract says otherwise. While a pre-settlement funding is beneficial for you to pay your bills while your case is still pending, it is essential that you understand all the content of the contract, and consult your lawyer if you need some clarification to ensure you get the right amount you are entitled to basing on the money that will be awarded to you. We can help you get a legal funding for your personal injury case, just check us out on our website or homepage now.Funds – Getting Started & Next Steps