A lawsuit is a civil action which is brought to a court of law, where a party claims to have incurred law due to a defendant’s action and the defendant is required to respond to it. It is basically one party suing another party for money or property. This costs a lot of money and time. It takes days together to get your case to the court. You need to have enough money to run through this entire process.
This helps you get some instant money for running your lawsuit. Pre-settlement funding provides you with the finances with a promise that you will give a portion of the winning after the lawsuit. This can help you even in case you are not earning enough. It will help you keep up with all the bills to be paid including your credit card bill. It is not exactly borrowing money but giving away a part of the future winning in exchange for the money you are borrowing. Pre-settlement funding provides $300 to $750,000 depending on your case and your need. In some cases, you can also have more than one advance in case you need money. There are conditions for the same. These conditions vary according to the lender. If you have a proper attorney and a very strong case, you can get the money in less than 48 hours. The best part is that you owe nothing if you lose the case. You need to submit to them a completed assignment, a police report and all medical reports. In this type of funding, you are not at any risk as you don’t have to spend any money from your pocket. This usually funds personal injury like accidents, slip and fall, etc., vehicle accidents, medical cases and a lot more.
The process from the lender’s side
- They usually contact your attorney and see how good your chances for winning is.
- They review your case. As you do not pay them back if you lose, they look into your case deeply and work things out.
- They send an agreement to your lawyer. You can go through it with your attorney and then contact your lender.
- Once you agree, they will immediately look into the money issue. They transfer the money to you within a day or two.
You just have to make sure that you have good winning chances. Make sure you only promise them what you can and make sure you read the agreement clearly. Be sure that this will actually benefit you.