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No-Risk Settlement Funding from Lighthouse Legal

Individuals with a pending personal injury lawsuit may qualify for settlement funding in order to pay their bills while waiting for a verdict in their lawsuit. Lawsuits typically eligible for funding include car accidents, construction accidents, or any other personal injury accidents. Settlement funding is basically an advance which is paid back along with any fees for the advance when the plaintiff actually receives payment of their settlement.

A settlement loan is a no risk loan for the injured party because if no settlement is received, the loan does not have to be repaid. Because of this, settlement loan providers will contact the personal injury attorney for more information about the strength of the case and the value of the likely settlement before agreeing to provide the loan. Injured parties who request an advance must have a convincing case with clear damages which they are requesting to be compensated for, such as time lost from work or severe personal injuries. The defendant in the personal injury lawsuit must also have the ability to pay the damages awarded to the injured party.

In most states, attorneys are not permitted to advance settlement funding to their clients even though the client clearly has an excellent chance of being awarded a large settlement. This can be frustrating to attorneys who see clients falling behind on mortgage payments and car payments through no fault of their own. Most attorneys are happy to provide settlement funding companies the information needed to process the loan, as they do not wish their clients to accept a lower settlement offered early on because of pressing bills.

Settlement funding is only available to clients whose attorneys are working on a contingency fee basis. Attorneys working on a contingency basis have every incentive to obtain the highest possible settlement for their clients, but this may take years. Most people injured in an accident do not have the savings to hold them over until they receive their settlement, so finding a way to get cash quickly can be a huge help. Settlement funding can provide enough money so anyone waiting for a settlement does not have to suffer financially because of an accident that was not their fault.

Avoid Legal Funding Headaches with a Lawsuit Loan

Once in a while, even though it may appear that you have fallen through the cracks in terms of being able to move forward as a litigant, it may actually be the case that you can move forward without penalty. A good example is in the lawsuit loan industry. While not a panacea for every lawsuit, a lawsuit loan can certainly help with your finances if you have obviously been wronged and are trying to change your circumstances by going to court.

Lawsuit loans are an attractive option for plaintiffs in need of money, more so than traditional loans or trying to pay for things with money from savings. The reason why lawsuit loans are a good option for those in a pending lawsuit is because it is not necessary to pay the lenders back unless the plaintiff wins the case.

By virtue of winning the case that you are bringing, you will receive money from the court and easily be able to pay off the loan that has been granted.

Below are a few answers to common questions that people have about lawsuit loans:

Q: What types of court cases are popular to use with lawsuit loans?
A: Largely, lawsuit loans are involved with cases that are normally heard by the civil courts.

Q: Do you still get to choose your own attorney?
A: Of course. It is important to note that your attorney will need to be willing to accept a contingency fee agreement instead of billing in advance and having you pay them and then get reimbursed.

Q: What kind of expenses are covered by lawsuit loans?
A: Beyond attorney fees and court costs, any type of medical or travel or client expense that would otherwise be factored into the settlement. The aim is to make it so that your ability to sue is not prejudiced at all by the amount of money you have on hand.

Q: How do you determine whether or not someone is eligible for a lawsuit loan?
A: In truth, there are a variety of factors that can make a difference. The amount of the possible settlement and the likelihood that you would win the case if you had the money to do so are two primary factors.