Who Can Avail of Settlement Loans?

Pre settlement loans are getting so much attention today because it is a viable financing option for complainants in a lawsuit who have filed their cases in court, awaiting a decision on their claim for damages. However, contrary to what we know, these loans may also be applicable to other parties. In fact, settlement loans can also be utilized by:

Lawyers

Attorneys most often avail of legal financing so that they can accept more cases based on contingency fees. These types of agreements permit lawyers to take on legit litigation claims for the recovery of damages without charging their clients with the legal funds up front, especially when they know the plaintiff’s ability (or inability) to pay. Even if this kind of arrangement offers legal practitioners a chance to accept many clients, while building their professional name, so much pressure is also being placed on law firms because they have substantial costs of operation and if they accept cases based on contingency fees, a problem in the cash low is created.

The thing is that if law firms always accept cases on a contingency basis, it is possible for them not to see money coming in for many months or even years before settlement. During this time, there is still that pressing need to pay for the salaries of their employees, office space lease and other expenses. Aside from that, they also need to pay for the costs involved in launching a big lawsuit. We all know that this can be costly as it sometimes includes fees for private investigators, discovery and expert witnesses. Pre settlement funding gives lawyers a chance to be able to afford these costs by allowing them to accept several cases and bundle them, so that they can get a cash advance against these cases. Through these loans, attorneys can receive the cash immediately, while making sure that justice is rightfully served.

Business Entities

Many businesses who find themselves tied up in legal issues face financial troubles. Although many of them rely on the lawsuit settlement in order to compensate for some of the damages that they have incurred due to the acts of the defendant, a final verdict can take months or even years. While waiting, there is a need for these businesses to keep up, continue their operations, hire employees and take care of the other costs which are involved in the running of their everyday affairs. In this regard, pre settlement loans are also being offered to companies who are currently in this unfortunate position, allowing them to remain open while pursuing their legal claims.

Plaintiffs

Of course, plaintiffs who are cash-strapped can always turn to settlement funding for a cash advance. Normally, these individuals are involved in personal injury litigation cases and need the money in order to settle car payments, house mortgages and medical bills. Lawsuit funding can be extremely important to complainants who have incurred serious injuries and thus they are unable to go back to work or secure a steady income.

Pre settlement loans are getting so much attention today because it is a viable financing option for complainants in a lawsuit who have filed their cases in court, awaiting a decision on their claim for damages. However, contrary to what we know, these loans may also be applicable to other parties. In fact, settlement loans can also be utilized by:

Lawyers

Attorneys most often avail of legal financing so that they can accept more cases based on contingency fees. These types of agreements permit lawyers to take on legit litigation claims for the recovery of damages without charging their clients with the legal funds up front, especially when they know the plaintiff’s ability (or inability) to pay. Even if this kind of arrangement offers legal practitioners a chance to accept many clients, while building their professional name, so much pressure is also being placed on law firms because they have substantial costs of operation and if they accept cases based on contingency fees, a problem in the cash low is created.

The thing is that if law firms always accept cases on a contingency basis, it is possible for them not to see money coming in for many months or even years before settlement. During this time, there is still that pressing need to pay for the salaries of their employees, office space lease and other expenses. Aside from that, they also need to pay for the costs involved in launching a big lawsuit. We all know that this can be costly as it sometimes includes fees for private investigators, discovery and expert witnesses. Pre settlement funding gives lawyers a chance to be able to afford these costs by allowing them to accept several cases and bundle them, so that they can get a cash advance against these cases. Through these loans, attorneys can receive the cash immediately, while making sure that justice is rightfully served.

Business Entities

Many businesses who find themselves tied up in legal issues face financial troubles. Although many of them rely on the lawsuit settlement in order to compensate for some of the damages that they have incurred due to the acts of the defendant, a final verdict can take months or even years. While waiting, there is a need for these businesses to keep up, continue their operations, hire employees and take care of the other costs which are involved in the running of their everyday affairs. In this regard, pre settlement loans are also being offered to companies who are currently in this unfortunate position, allowing them to remain open while pursuing their legal claims.

Plaintiffs

Of course, plaintiffs who are cash-strapped can always turn to settlement funding for a cash advance. Normally, these individuals are involved in personal injury litigation cases and need the money in order to settle car payments, house mortgages and medical bills. Lawsuit funding can be extremely important to complainants who have incurred serious injuries and thus they are unable to go back to work or secure a steady income.

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