The Fruits of Lawsuit Loans
Most often than not, people only hear the negative side of the story. This is the very reason why people are afraid of getting a lawsuit loan. These people, who are doubtful about the lawsuit loan, are those who have heard from those previous clients of a lawsuit loan company who faced an unreasonable amount of interest rate. What these people do not know is that there are decent lawsuit loan companies out there that are more than just willing to provide funding at a low-interest rate.
The Case Against Bayersettlement loan
Have you already heard about the Bayer case? It is the case wherein women complained about the effect of Bayer’s contraceptive pills, namely the Yasmin, Ocella, and Yaz pills. There were about 6,000 injured women who were the plaintiffs of the case. These women do not have sufficient money to fund a legal case as big as this one. This is where the need for a settlement loan comes in.
With the help of a lawsuit loan, the lawsuit was pursued and the plaintiffs won a total of $1 billion from Bayer, which is the manufacturer of those pills. The lawsuit loan company where the plaintiffs sought legal funding benefited from the victory of the case. The lawyers of the plaintiffs also received a good amount of money. Last but not the least, the plaintiffs received about $209,000 each. It was a happy ending for all – the lawsuit loan company, lawyers, and plaintiffs. This is how can a settlement loan help you with your lawsuit.
On What Cases One Can Apply For Lawsuit Loan?
It is very important to remember that not all cases are eligible for a lawsuit loan. Most of the time, only those cases that involve physical injuries to the plaintiff are usually granted. However, always remember that settlement funding is not just limited to those kinds of legal cases. Cases that involve worker’s compensation, medical malpractice, 3rd party case, racial discrimination case, and more can also qualify for a lawsuit loan grant.
Do You Need Your Lawyer’s Approval?
Of course, even when it is your lawsuit, it is best to seek legal advice from your lawyer. After all, lawyers are very much experienced when it comes to legal matters and even legal funding. In fact, they can tell you as to what are the things that you need to look for a good settlement loan. They can also recommend the best lawsuit loan companies.