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If you are going through a personal injury lawsuit and fed up with waiting for a settlement, you may be considering a lawsuit loan. A lawsuit loan is a non recourse cash advance against a pending or already settled lawsuit. It's important to understand while most people refer to this type of financing as a lawsuit loan, it really isn't a loan. The money is borrowed on a contingency fee basis meaning if you lose your case, you don't have to repay the lender.
Lawsuit loans are commonly referred to as pre settlement funding and post settlement funding. Pre settlement funding are advances against a lawsuit that has not yet reached a settlement. Post settlement funding is provided to those claimants that have recently won a settlement or verdict.
When a person wants to apply for a legal funding they must understand the underlying process. A person will contact a company that is usually is a hedge fund or investment company. The company will ask for general information on the case including access to the attorney handling the case. In order to qualify for an advance the plaintiff must be represented by a lawyer. If the company decides to move forward with the process after the initial conversation with the client, they will contact the attorney and request information on the case. This information is used to evaluate the strength of the case. If the company believes there is value in the lawsuit they will typically contact the attorney and have a short discussion prior to the approval. If the case is approved for a the lawsuit loan company will provide an offer to the client. The offer will include the total amount they are willing to lend (or requested amount) and payment schedule.
A contract will be sent over to your attorney and you will be required to sign the contract. Once you've signed the contract a lien will be put on the suit. This lien assures the lender they will get paid the principle plus interested if you are awarded a settlement or judgment.
The average process can take anywhere from 1-3 days depending upon the accessibility of the attorney.
www.AAACommunityFinance.com $100-$1000 Cash in 1 Hour. Without Credit Check & No Faxing. Very Easy Approval. 100% Secured and Easy. Submit Here.
www.AAACommunityFinance.com
If you are going through a personal injury lawsuit and fed up with waiting for a settlement, you may be considering a lawsuit loan. A lawsuit loan is a non recourse cash advance against a pending or already settled lawsuit. It's important to understand while most people refer to this type of financing as a lawsuit loan, it really isn't a loan. The money is borrowed on a contingency fee basis meaning if you lose your case, you don't have to repay the lender.
Lawsuit loans are commonly referred to as pre settlement funding and post settlement funding. Pre settlement funding are advances against a lawsuit that has not yet reached a settlement. Post settlement funding is provided to those claimants that have recently won a settlement or verdict.
When a person wants to apply for a legal funding they must understand the underlying process. A person will contact a company that is usually is a hedge fund or investment company. The company will ask for general information on the case including access to the attorney handling the case. In order to qualify for an advance the plaintiff must be represented by a lawyer. If the company decides to move forward with the process after the initial conversation with the client, they will contact the attorney and request information on the case. This information is used to evaluate the strength of the case. If the company believes there is value in the lawsuit they will typically contact the attorney and have a short discussion prior to the approval. If the case is approved for a the lawsuit loan company will provide an offer to the client. The offer will include the total amount they are willing to lend (or requested amount) and payment schedule.
A contract will be sent over to your attorney and you will be required to sign the contract. Once you've signed the contract a lien will be put on the suit. This lien assures the lender they will get paid the principle plus interested if you are awarded a settlement or judgment.
The average process can take anywhere from 1-3 days depending upon the accessibility of the attorney.