While there are never any guarantees regarding the outcome of a lawsuit, there are certain cases that truly look good for the plaintiff. When the outcome might look very promising, the plaintiff may seek a lawsuit cash advance. Since there are no guarantees, it may be best to take five things into consideration before acquiring an advance.
• Ascertain whether or not the award is a loan or a no-obligation advance. With a no-obligation advance, you will be able to keep the funds even if the lawsuit judgment or settlement is not in your favor. Loans, however, would have to be paid back regardless of the outcome.
• The attorney will take his fees before the award of the funding to the plaintiff. The funds will commonly be placed in a trust handled by the attorney. After the attorney collect his fees, the remaining amount will be issued to the plaintiff. This could have an impact on the amount of the cash advance and any repayment requirements.
• Realize certain disputes will be settled faster than others. Legal issues surrounding a business dispute can take quite a long time. As such, certain forms of litigation may prove more difficult to find a lawsuit cash advance award than others.
• Determine whether there are any liens or levies against you if the advance is a loan. If there are, your lawsuit award may be garnished, leaving you in a precarious situation of owing the lawsuit lender and not having the funds to make payments.
• State laws may prohibit these forms of cash advances. Be sure that your state allows such transactions before investing time by contacting lawsuit funding services.
Lighthouse Legal offers non-recourse cash advances that can help you in your time of need. Unlike other loan companies, we won’t get paid unless you do. Contact us today to learn more about the benefits we offer.
Litigation can be expensive. Not only is the expense a daunting idea; the amount of time it takes to complete litigation in the courts can take months or sometimes even years. Pursuing commercial litigation can leave business cash strapped, creating less-than-optimal operations or the potential for not pursuing a lawsuit when a claim is warranted.
That’s where commercial litigation funding comes in. We specialize in providing you with the necessary funds to help keep your business running while pursuing your commercial litigation lawsuit. Commercial litigation funding has a number of benefits:
First, it’s not a loan. Instead, it is a cash advance against the outcome of the litigation. What that means is that our litigation experts believe that you have a very good chance of winning your lawsuit. Here is how the process works. We purchase an interest in your case and will not recover our investment unless the settlement goes in your favor. The funding that we provide to you are non-recourse funds, meaning that you are not responsible for repayment if your case fails.
One of the immediate effects of obtaining commercial litigation funding is that it preserves working capital and your business’s financial stability, allowing you to focus on business operations. Another excellent benefit is that we do not place restrictions on how funds are used.
Securing commercial litigation funding is fast and easy. Approvals for commercial cash advances can be yours in a few days. Funds can appear in your account on the same day that the cash advance is approved.
Types of cases funded include breach of contract, conversion, copyright litigation, environmental Litigation copyright litigation, fraud, patent claims, securities fraud and shareholder lawsuits. However, please note that funding is not guaranteed. Factors affecting funding are the strength of the case, case type, strength with counsel and fee arrangement with counsel.