Understanding Mass Tort Lawsuit Loans
If you’re a victim of one of the many mass tort lawsuits currently being filed; it can be challenging to focus on anything other than your situation.
You’re probably dealing with more stress than you ever imagined, and you may even feel as though your life is in complete disarray.
It’s also very likely that you don’t have the necessary funds to cover all of your legal expenses, which can add to your stress and overwhelm you further.
Luckily, our pre-settlement funding will help you pay for legal costs while keeping your family’s financial security intact.
What Are Mass Tort Claims, And Why Does Plaintiff Need Money?
Mass tort lawsuit loans are a type of lawsuit funding designed to help plaintiffs recover damages from their claim.
Typically, these lawsuits involve mass torts or large-scale personal injury claims, such as those brought against big companies for their mismanagement of dangerous products.
Most plaintiffs cannot recover compensation for damages without taking out lawsuit funding because they lack sufficient collateral to receive traditional loans.
Because each plaintiff might be entitled to hundreds of thousands or even millions of dollars in damages; you can see why traditional loans don’t make sense for them.
These cases also require a lot of legwork; even if you win your suit and get money from it, collecting all your payments is still up to you.
Mass tort lawsuits are filed against companies and other organizations accused of causing harm to groups of people through their actions, products, or services.
Because these cases usually involve many plaintiffs; they are often consolidated into what is known as mass tort cases in court.
The personal injury lawyers representing the plaintiffs in these mass tort cases need to have access to funding so that they can hire the team of medical experts and private investigators necessary to bring the case to trial; in which they hope to win enough money from the defendant organization or individual in order to pay off all of their clients and cover their own legal fees.
What Are Mass Tort Lawsuit Loans?
If you’re involved in a mass tort lawsuit, it can be hard to find an attorney who will accept a contingency fee because there are so many individual cases.
Because these cases involve a large number of plaintiffs, attorneys take on such lawsuits for large lump sums as opposed to smaller fees for each client.
The upside is that you don’t have to pay attorneys if your case isn’t successful; instead, you pay less than if you hired an attorney one-on-one.
The downside is that if more clients come forward with similar claims against you and your business, they could go after your personal assets in addition to your company’s assets.
Having access to funds during litigation can help make sure that doesn’t happen.
How Do Mass Tort Litigation Funding Work?
There are many ways to get access to cash for a lawsuit, but one that many people don’t know about is mass tort lawsuit loans.
These loans are only available to parties involved in mass tort lawsuits and can provide access to large sums of money, paid back over time through interest-free monthly payments.
The borrower can use these funds however they wish—perhaps as a tax-free advance on their case’s eventual settlement.
Understanding the benefits of mass tort legal funding is important because knowing where you stand financially can help you decide whether or not it makes sense to take out one of these loans.
Benefits of Mass Tort Lawsuit Loans
While lawsuit loans seem to be a strange concept to most people; there are actually many benefits that can come with taking out a loan.
First and foremost, a lawsuit loan is almost always non-recourse, which means that if you don’t win your case or collect on it somehow; you don’t have to pay back any portion of your lawsuit loan.
As long as you can show receipts for any costs and other expenditures related to your case; then it is very unlikely that you will ever have to pay back any money from your lawsuit loan.
You would only have to repay the money from these types of loans if you didn’t file suit within 90 days of receiving funding or refused additional funding while still pursuing litigation.
Mass Tort Cases We Fund
ECO Pre-settlement Funding is well known for helping plaintiffs of mass tort claims to get urgent money they need; check the Mass Tort Litigation Claims we fund:
- Hernia Mesh Lawsuit
- IVC Filter Lawsuit
- Roundup Lawsuit
- Essure Lawsuit
- JUUL Lawsuit
- Zantac Lawsuit
- Prilosec Lawsuit
- Paraquat Lawsuit
- 3M Earplugs Lawsuit
- Belviq Lawsuit
Who is eligible for Mass Tort Lawsuit Funding?
A mass tort is a type of tort claim that is aggregated into a class action, which a plaintiff or group of plaintiffs represents.
The mass tort can be brought on behalf of large groups of people injured from specific types of injuries by specific types of defendants. Some examples include congenital disabilities and injuries from defective products.
A mass tort lawsuit loan is used for victims who have suffered massive losses due to defective products, medical negligence, dangerous drugs, or other causes.
If you’ve been injured or lost someone you love due to a problem that didn’t need to happen; you may be entitled to compensation; it may be in your best interest to seek legal help through a trust fund provided by your attorney.
Why Are Mass Tort Loans Better Than Credit Cards?
If you’re worried about how your credit card will react if you decide to borrow against your credit line to pay for a personal injury settlement, then know that these loans fit into your life.
Most of them require no collateral, and there are no prepayment penalties. There aren’t limits on how much money you can take out either.
Best of all, they typically have more flexible repayment options than loans with traditional lenders. That includes a range of ways to pay back the money—not just one fixed monthly payment over 10 or 20 years.
An experienced attorney can walk you through all of your options when it comes time to pay back a lawsuit loan because not everyone is in a position where a fixed monthly payment makes sense.
Apply For Mass Tort Lawsuit Loans From ECO
When victims of mass tort cases have to go to court against large corporations and individuals; they have enough problems to worry about.
They do not need to concern themselves with paying for a lawyer at a time when they can’t even pay their bills.
ECO Pre-settlement funding understands that people across America who are dealing with long and complex lawsuits are going through some of life’s most difficult times.
This is why we provide lawsuit funding that makes it possible for these people to take action without having to worry about money issues.
Mass tort lawsuit loans can be very lucrative, but it’s important to understand the ins and outs of this investment strategy before you start out.
Contact our executives at 800-961-8924; they will explain all the basics of mass tort lawsuit loans.
Including the best types of cases to invest in, the various kinds of investment strategies available;
And how you can evaluate your opportunities on an ongoing basis so that you can maximize your returns with minimal risk.