Lawsuit Cash Advance Tips For Anyone Needing Lawsuit Funding
Posted By on February 15, 2011
If you have a Lawsuit and need a Lawsuit Cash Advance it should be considered as a last resort. Try all other funding options first such as banks, credit cards, family, friends, because if available, funding from these sources would likely be less, even though obtaining a non-recourse advance from a Lawsuit Funding Source it is not a loan. With a traditional loan source, you will always have to begin making monthly installment payments right away and if you lose your case and receive no cash award you are still liable to repay that loan. With a non-recourse lawsuit advance. Payback is only required if you win your case. If you lose your case you owe nothing. If you have exhausted all other funding options and are willing to receive an advance now in exchange for a portion of the proceeds from your lawsuit only than should you consider Lawsuit Funding.
Before applying advise your attorney of your financial situation and your need for Lawsuit Funding. In order for your case to be considered for Lawsuit Funding certain information which usually your attorney only has will need to be reviewed by the lawsuit funding investors. Information usually requested will depend on the type of case you have. Examples of some documents requested would be a copy of the complaint, incident report, court rulings,medical reports,surgical reports and expert reports etc. If your attorney is advised by you in advance they are more likely to provide this information promptly when it is requested.
When looking for lawsuit companies watch out for any lawsuit funding company which asks for money upfront and or wants to offer you something which seems to good to be true. Since your the one in need you should not have to pay any money upfront to have your case evaluated or funded.
When you decide to apply you should only consider one source. Applying with more than one company can be time consuming for you and your attorney. When you apply for Lawsuit Funding your attorney is subsequently contacted by each and every funding source you have applied with all of which will be requesting basically the same information. This can create a tremendous burden on the law firm representing you. If you apply with one source such as Lawsuit Funding Network http://www.lawsuitfundingnetwork.com which works with a network of ifunders your attorney willl only need to provide the information once. Lawsuit Funding Network in return streamlines the funding process by getting that information out to multiple sources giving you the best chance of getting funded with the most reasonable terms.
Lastly when speaking with a funding consultant it is important to let them know what your immediate financial needs are. if a consultant knows what you need or are going to need there is a chance you can be pre approved for additional monies. If not and or you need additional money and can’t get any more from the original investor you may have to start the whole process over again.
Al Johnson is the president and founder of Lawsuit Funding Network and can be reached at al@lawsuitfundingnetwork.com
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