When you are in financial distress and have a lawsuit pending for settlement of your claims, and have no resources to muster, there are lawsuit funding companies who will help you in paying advance for meeting your financial needs. You will need to pay for your daily expenses and for meeting the cost of your lawsuit so that your claims are settled at the earliest. To bail you out from this situation, you will find agencies that will provide you with cash advances while you keep your fingers crossed on having your claims settled.
These lawsuit funding partners will provide you with instant cash as advance which will help you in pursuing your lawsuit and obtain a favourable judgement in settling your claims for compensation. The advance will be given against guarantee of repayment at the time of settlement of your claims and in case your claims are not settled, you do not have to pay anything. Interest is charged at the rate of 2% to 3.5% and is capped at the end of 2 years. In case your case is not settled within that period, you will have to pay for the first 2 years regardless of the number of years it takes to get a judgement.
To be eligible for getting cash advance against pending lawsuits, your case has to be under any of the areas mentioned in the list provided by the lawsuit funding agencies. These include various types of injuries, accidental death or disability, sexual harassment, medical negligence, claims for product liability, animal bites, food poisoning and other cases where the plaintiff has the right to claim for damages. Those above 18 years of age who have lawsuit pending relating to any accident injury will also be eligible for cash advance.
Amount of cash advance
There are certain limits to funding which can be up to $ 250,000 depending upon the case value as projected. Normally the advance ranges from a minimum of 15% of the expected settlement amount.
Other facts you need to know
Other facts you need to know are that repayment of the cash advance together with origination fee and interest accrued shall be payable only at the time of receiving your settled amount. This payment shall be made through attorneys handling the litigation from the amount received towards settlement. These lawsuit funding partners will not interfere into the proceedings of the case, neither will they interact with your attorney.
How to apply
Once you complete the process of application, you will be able to meet their representative who will apprise you of all the facts and figures and once you are found eligible to apply for cash advance, you will be required to provide documents which will support your legal claim along with a questionnaire filled up by your attorney. Once you fulfil all the criteria your cash advance will be paid within 24 hours.
These lawsuit funding solutions will help you in pursuing your claim while meeting the daily expenses in case you have no other alternatives. These services have been gratified through court judgements and have been found to be ethical. Those in financial distress due to injury for various reasons will find these funding partners true friends coming by your side at the time of your need.
Author bio: Alex is a freelance article writer who also writes his own blog on finance and business. In his recent posts he has written about lawsuit funding and its importance. You may check out more about the topic at his blog and get the benefits. To know more visit – http://www.pcfmoney.com/