Legal Financial Solutions – Some Faqs To Clear The Confusion
If you are a plaintiff in any ongoing legal battle, I am sure the current times would be quite stressful for you. This is even more so when you consider the financial turmoil you will have to deal with while the case proceedings are underway. The case will prove to be a constant money drain while you struggle to make ends meet in the aftermath of the personal injury for which you are claiming compensation. This is where legal financial solutions can help solve many issues.
Most of the plaintiffs involved in lawsuits do not realize they can get cash advance before their case settles. It is called as lawsuit funding and often referred as lawsuit loan, legal finance, legal financing, legal funding, legal funds, lawsuit cash advance, litigation financing, pre-settlement loan and plaintiff cash advance. This financial aid will prove to be the answer you were looking for to make ends meet and keep your hopes of winning your legal battle alive. But as it often happens, most people are simply unaware of what legal financial solutions are. Let us look at them closely and examine some common questions that might come into your mind about them.
What exactly are legal financial solutions?
Lawsuit funding or legal finance is a non- recourse lawsuit loan or lawsuit cash advance. It carries no risk because plaintiffs owe nothing if they lose the case. The program is designed to provide the attorney with the time he/she needs to negotiate a much larger and reasonable settlement in a case while the plaintiff gets the financial assistance required to meet everyday expenses.
Who is eligible for legal financial solutions?
Just about any case can be considered to be eligible for such financial assistance. In fact, your own credit history, employment status and repayment capacity will not have any bearing on your eligibility here either. What matters is you should have a case that is viable in court with a reasonable chance of succeeding. The attorney you have hired to fight the case on your behalf, his/her reputation and success rate and the approach they are taking in court might have a little effect on how strong the lending company will consider your application to be.
When and how do you repay the loan?
This transaction cannot be defined as a loan in the strict sense of the word. This is because legal financial aid is actually the lending company purchasing an interest in the outcome of your case. They will provide you with the money you need now to make ends meet. But when your case reaches a favourable settlement, they will be entitled to a previously agreed upon share in the amount of compensation you will receive in the end. This share will be proportional to the amount of money they had provided to you as assistance previously and may or may not include an interest amount. But as far as repayment is concerned, if you do not win, you are not required to return a single penny.
Visit Nlfunding.com for more information on legal financial solutions.
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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