If you have filed a lawsuit, it may take years for the case to go through to trial. While this may well mean some litigants have money that will be coming to them (following the conclusion of the trial), this may also be a lengthy wait in the meantime. Should you seek a lawsuit case advance or pursue getting lawsuit funding loans to help you pay bills before a judge hears your case?
In what situations are lawsuit funding loans and cash advance payments granted? Some companies who are facing lawsuits may not want to pay a pre-settlement amount, because they believe they won’t have to pay as high a settlement in court or may have to pay the full amount the other party wants in a lawsuit. In cases such as these, lawsuit funding loans can help litigants. A person may be able to get a lawsuit without limitations, to help them pay for bills until their case is heard.
Is a lawsuit cash advance loan different from structured loan funding?
Similar to structured loan funding, but each option has differences. No matter which option you choose, you should always be sure to read the fine print on your contract. Make sure you understand the ramifications of what happens if you have a lawsuit or choose structured loan funding and lose your court case.
In a loan, while no upfront payment is required for a lawyer, litigants may not have to pay if they lose. However, if they win, advancements previously taken are subtracted from their award amount and a lawyer will receive their portion as well. Depending on the size of the lawsuit, individuals may be wise to review all loan funding options before making a decision. With structured loan funding, a litigant receives a set amount of money each month, while they’re waiting for a judge to hear their lawsuit.
Individuals who do decide to apply for a cash advance loan have a new option that wasn’t available before. Prior to cash advances or structured loan funding, those injured waited for trial or accepted insurance’s compensation payment. There were no other options for those needing cash to pay bills. Asking a qualified lawyer who has experience in lawsuit funding loans is one’s best bet, because they will be able to go over each of the pros and cons of lawsuit cash advance loan and structured settlement funding. Ultimately, a lawyer or attorney can assist you with finding the best option for your needs.