Why Do Lawsuit Loan Companies Offer Lawsuit Settlement?
Many people are curious as to why companies offer pre settlement funding to plaintiffs. Well, it is simply because companies know very well that justice cannot prevail if the lawsuit won’t be pursued. Aside from the fact that the companies are helping the person to get the justice that he deserves, the lawsuit loan company will also earn through the fees that will be collected from the plaintiff at the end of the case.
How Much Should You Pay for the Lawsuit Loan?
If you are planning to get it, then there is no need to worry about the upfront costs. Remember that the lawsuit loan company wants to provide you lawsuit settlement to lessen your financial burdens rather than add up to it. All the fees will be collected after the lawsuit battle. In the meantime, the plaintiff is only required to submit the completed application form of their settlement loan application and to ask their lawyer to give the company the details regarding the lawsuit.
The amount of money that the plaintiff is required to pay for the lawsuit settlement will depend upon how long was he able to repay the company back. The amount of his settlement will also be a great factor. Why? It is simply because if the plaintiff received lower compensation than what is expected, then the lawsuit loan company cannot force him to pay them an amount that is equal to or much higher than what he receives from the lawsuit.
How Many Days to Wait to Get the Money That the Plaintiff Needs?
Unlike other arrangements, there is no need to wait for a long period of time to get approval and to get the lawsuit settlement. Normally, it will only take 24 to 48 hours of waiting before the plaintiff can claim the amount granted to him by the lawsuit loan company. Without a single doubt, this is definitely the fastest way of acquiring cash on hand.
As long as the plaintiff is planning to file or has already filed a legal case – such as product liability case, breach of contract cases, Yaz cases, settled cases, fire damage case, and many more – then the plaintiff will have no issues nor difficulties in applying for and claiming his lawsuit settlement. Always remember that a plaintiff needs to consult his lawyer first before submitting the application form to the pre settlement funding company. Without the consent of the lawyer, there is a high probability that the application request will be denied by the lawsuit loan company. Therefore, never ever forget to seek legal advice and to tell the lawyers regarding your plans on lawsuit funding.