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.