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Benefits of Lawsuit Funding

Important Facts About Lawsuit Funding

There are many facts about lawsuit funding that people do not understand. At lawsuitcashtoday.com we strive to separate myth from fact so that you clearly understand the terms of obtaining a lawsuit settlement cash advance. Many people tend to confuse legal funding for legal representation. These are two different aspects. Under normal circumstances a victim always reserves the right to choose an attorney who will represent them in all their legal tussles. Legal funding or lawsuit cash advances on the other hand comes from professional firms that are in this business in a totally different capacity.

It is important however to note that there are instances where the victim may ask for the intervention of the legal funding or pre-settlement company to find a lawyer or in some instances to offer legal counsel when the client has no options. This rarely happens because there is no obligation on either of the parties to this effect. To explain this process more clearly, below are some pertinent questions asked by most victims looking for litigation lenders.

What Happens If You Lose Your Case After Getting A Lawsuit Funding Settlement Cash Advance?

For most victims the first question that comes to mind as soon as they realize they can actually get a lawsuit funding cash advance is how to repay it. This is because many assume that it is a soft loan advanced to them by the legal funding organization. This is a misunderstanding that should be cleared before you get into any agreements. The basis upon which any of these funds are given from Lawsuit Cash Today to the victim is on a non-recourse basis. This in simple terms means that you do not have to repay the advance if the outcome of your case is not favorable. It is however important to note that there could be exceptions to this rule in cases where fraudulent activity is proven to have taken place during the process of obtaining the lawsuit cash advance.

What Are The Benefits Of Lawsuit Funding Against Meeting Your Legal Expenses?

While the no-recourse aspect of the agreement may excite anyone it is also good to understand that there are other implications that you will have to contend with. Ordinarily, the litigation advance may seem expensive in the short-term but the reality is that in the final analysis a lawsuit cash advance actually gives your attorney more time to get you the larger settlement you deserve. The good news is that you always face a risk free situation because you do not have to repay the advance if you lose the case. This makes it a better option as compared to risking your money especially if you are not sure of the outcome of the case.

Does Lawsuit Funding Give My Attorney A Better Chance Of Winning?

There is a general assumption among many victims that when the case drags on longer the attorney representing them may lose patience and probably abandon the matter midway or maybe charge higher fees for representation. This is nothing but a falsehood. Instead, the exact opposite is true. When the court takes longer to settle the matter chances are that you lawyer will demand a higher settlement. This is good news for the lawyers who get a contingency fee which is typically a percentage of the total settlement awarded.

What Kinds Of Situations Do Lawsuit Funding Cover?

There are many situations that people seek settlement for in a court of law. The list is very long but some common aspects include cases involving accidental drowning, aviation accidents, bicycle accidents, medical malpractice, cancer misdiagnosis, legal malpractice, workplace accidents, premises liability, product liability, asbestos poisoning, dog bites, amputation and generally all sorts of accidents in which the victim is not to blame. When such incidents take place, the victim suffers in some way. In certain cases the victim could end up disabled or even dead. Pursuing such matters takes too much time and they could as well end up without any settlements awarded to the victims. This is the main reason a lawsuit cash advance works wonders. The catch being that you do not have to bear any further expenses if you lose thanks to the no-recourse clause.

Do Victims Have To Repay The Lawsuit Settlement Loans Under All Circumstances?

The answer to the above question is yes. While the no-recourse clause in the agreement exempts the victim from re paying any money to the lawsuit funding organization in case of a loss, the victim has to repay the advance in full if the case ends in their favor. Once the court rules in favor of the victim they will have to repay the advance and pay their attorney from the settlement awarded by the court. This is a good reason you should be very careful when taking money from your personal injury case or when dealing with litigation lenders.

The Benefits Of Lawsuit Legal Funding In Summary …

Perhaps the greatest hurdle that anyone can face after an accident that is not of their own making is lack of legal representation due to financial constraints. Plaintiff lawsuit legal funding or litigation finance always gives such victims a new lease of life. With these arrangements the victim can get legal representation and even take care of certain crucial matters as the case goes to trial. It also gives the victim a chance to reorganize themselves and live a happy life while the lawsuit takes it’s course.

 

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