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Pre Settlement Lawsuit Funding – Everything You Needed To Know

Nov 3rd 2014 at 4:03 AM

People looking for legal aid often have to go though many hardships during the course of the proceedings of their case. It starts with a simple application which unfolds into full scale legal proceedings involving everything from lawyers conducting their arguments and investigations to evidence finding and presentation to even filing of additional charges and applications. All of these happen for a fee. And as a plaintiff who has already undergone losses as a result of the case, having to bear legal fees and charges is just impossible.

 

This is one of the biggest reasons why most cases, even though they are strong enough to actually win, never even make it to the court. Lack of funds happens to be the single biggest worries that plaintiffs have to deal with all across the country. Justice doesn’t come for free you know!

 

But services like pre settlement lawsuit funding help people in managing their legal expenses in pending cases without putting an extra financial burden on their backs. Let us look at how they work..

 

Meaning

 

Pre settlement lawsuit funding is a service normally extended to help plaintiffs in maintaining a stable position during a pending case. Individuals who already have a case filed in the court or those who are in the process of filing one can approach these companies for financial help. In this case, the effete complainant would opt for a settlement loan to pay for medical or other urgent financial matters. The funding company will evaluate the case on its merits as well as on the legal counsel you are hiring to argue it for you. Based on these findings, they will grant you the loan whose duration will last till the case is finally settled.

 

Process

 

Pre settlement lawsuit funding is a simple enough process to understand. You must however understand that every funding company will have its own system in place to accept and evaluate applications. But in general, this is how the process unfolds.

 

  • The plaintiff in need of financial assistance will approach a funding company, seeking funding for his/her case.
  • The funding company generally invites applications for the cases that need assistance. The terms and format of these applications will be available on the website of each company.
  • The applicant will file their funding request, with help from their lawyer, of course, mentioning all the details requested by the funding company.
  • Upon receiving the application, the funding company will evaluate it on its merits. This involves conducting an investigation into what the case is all about, its chances of winning, the lawyers hired to fight it and unbiased legal opinions about the standing of the case.
  • The funding company will also get in touch with your lawyer to understand the nuances of the case and the financial standing of the plaintiff.
  • If everything is found to be in order, the company will grant to loan, on interest and upon the terms and conditions decided by it, to be repaid once the case is settled.

 

For more information about litigation funding solutions, visit NLFunding.com.

 

About The Author

Sydney Banks is a litigation funding expert who openly advocates the many advantages that this option brings for plaintiffs in need of intermittent financial support during the course of cases. She recommends NLFunding.com as the best and most trusted provider of such products in the US.

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