It’s understandable to shutter when you hear the word ‘loan’. However, lawsuit loans are really not loans at all. In fact, you only pay back the money if you win!
Meanwhile, standard loans require you to pay no matter what while tagging lofty interest to it. Sometimes, lawsuit funding is needed to help fund bills that stem from the incident that is in legal battle. These may be high-cost medical bills or procedures you need to get after an accident or neglect.
The fact is injuries in accidents are not cheap, and negligence of a person or company can cost more than just money. Seeking legal recourse is the right way to get what you deserve, but most of the time you won’t be able to front the cost of the bills. If an injury was involved, certainly the medical bills will become overwhelming and may send you tumbling into debt. That’s why a lawsuit loan can help you get back on your feet while waiting for the legal proceedings.
But unlike other loans, such as a home or car loan, which can charge high interest rates, a lawsuit loan won’t charge interest. In fact, you only have to pay it back if you have won your case. So really this is not a loan at all, instead it’s a cash advance for a sum of money you plan on receiving after the case goes through the slow legal system.
Lawsuit funding can be very appealing since the legal system can be bogged down for various reasons. You may not get a settlement or a ruling until months or even years after you need the cash. So if you need money to pay bills extending from a lawsuit, then look no further than Lighthouse Legal. We can get the money you deserve right away and help your journey to justice!