Lawsuit Cash Advances – Lawsuit Loans and Plaintiff Loans
Posted By on December 31, 2010
Lawsuit Cash Advances are funds issued to plaintiffs based upon the merits of their pending lawsuit. These advances are often reffered to as lawsuit loans or plaintiff loans, but they are not “loans” in the true sense of the word as the legal funding company does not have recourse to the advance if the case is lost.
A cash advance on a lawsuit can be a lifesaver to individuals who find themselves in a dire financial situation and are unable to meet their normal expenses, often as a result of being unable to work or being tied up in the pending lawsuit drama.
The legal funding companies issue advances are not based on the plaintiffs prior employment, bankrupcy or even credit standing. They are simply determined by the merits of the case and the expected future settlement. In the event of an unfavorable decision in the case, the plaintiff keeps any cash advance issued to them.
Lawsuit loan companies are effectively making an investment in the clients’ case and there is no guarantee that their advances will ever be repaid. Hence they bear all of the risk and this is very different to the traditional bank loan scenario. These lawsuit cash advances have more commonly been referred to as litigation funding, litigation loan, lawsuit funding, lawsuit finance, lawsuit cash advance, case loan, case cash advance, plaintiff cash advance, litigant funding, pre-settlement loan, pre-settlement lending or pre-settlement cash advance.
Who Can Obtain a Lawsuit Cash Advance?
Any plaintiff with a current, pending lawsuit can make an application for a lawsuit loan. The lawsuit loan company will then review the case and determine whether it is a viable investment and how much to advance to the client.
If you are a plaintiff, involved in any of following lawsuits (but
What types of cases are eligible?
Some examples of the cases considered for lawsuit advances:
motor vehicle accidents wrongful employment termination discrimination personal injury product liability
Among others. To find out if your particular case qualifies visit Lawsuit Cash Advances for more information.
Are there any fees or interest associated with Lawsuit Cash Advances
No. Any reputable legal funding company will not charge fees or interest. Furthermore, there are no repyments on the advance that need to be made until the case in question has settled. The contract will set out the amount that is payable upon settlement and there are no other costs other than this.
Are lawsuit loans legal?
Yes. The plaintiff who receives the advance has full ownership of the amount advanced to do with as they please.
Given the slow nature of the legal system, lawsuit cash advances are an option to those who need fast funding to meet all of their expenses and not settle for a low offer settlement of their lawsuit.
Find out more about lawsuit loans and how to apply ==>Lawsuit Cash Advances
Michael Jefferson is a Legal Finance and Lawsuit Loans Consultant. He offers free, professional advice in all areas of Pre Settlement Loans, Lawsuit Finance, Personal Injury Loans and Lawsuit Cash Advances.
For more information visit ==> Lawsuit Cash Advances
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