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Settlement Loan – How It Helps You, Even Before You Get Your Lawsuit Settlement?
Lawsuit Settlement Loan is the cash advance provided to lawsuit plaintiffs and attorneys even before their cases are settled. It is a contingent transaction in which cash advance is advanced based solely on the merits of a pending lawsuit. Settlement loan is repaid only upon successful verdict or settlement of the lawsuit.
It is also called as lawsuit loan, lawsuit funding, legal funding, lawsuit cash, lawsuit pre-settlement funding, or legal financing.
Why Lawsuit Settlement Loan is Really Not a Loan?
Typical loans are repayable absolutely. But lawsuit settlement loan is a non-recourse debt, a secured loan (debt) that is secured by a pledge of collateral. When a plaintiff is funded for lawsuit settlement loan the collateral is future settlement of lawsuit, but for which the borrower is not personally liable.
Lawsuit Settlement Loan or Lawsuit Funding is a Non-Recourse Cash Advance:
If the plaintiff does not receive a favorable cash settlement or positive award upon resolution of the lawsuit, he or she need not pay back the advanced lawsuit loan to the funding company. Because all cash advances are made on a non-recourse basis, the lawsuit settlement loan funding company relinquishes their entire cash advance for that claim if the plaintiff is not successful in their lawsuit. If the plaintiff or attorney loses the lawsuit claim, the lawsuit settlement loan is never paid back to the lawsuit funding company.
How Lawsuit Settlement Loan or Lawsuit Funding Helps Plaintiffs?
With a lawsuit settlement loan, you can immediately receive portion of your projected settlement in advance, and you may use that cash money however you wish. You can pay your regular bills, mortgage/rent, car payments, educational expenses, monthly bills etc.
People understand the importance of having a plan in place to deal with natural disasters yet fail to properly plan for a financial disaster. The current economy has brought this lack of planning to the forefront and many people are realizing they are not adequately prepared if faced with the loss of employment, disability, medical emergencies or other financial hardships that are bound to happen at some point in their lifetime.
How Lawsuit Settlement Loan or Lawsuit Funding Averts Crisis?
Most of the people do not realize the importance of having an emergency plan in place, to deal with in a financial crisis. They are not adequately prepared if faced with the loss of employment, physical disability, medical emergencies or other financial hardships that are bound to happen at some point in their lifetime.
Lawsuit settlement loan enables plaintiffs in lawsuits to receive cash money months or years before their claims have settled and is vitally important to a plaintiff who is in a financial crisis. Faced with depletion of financial resources and possibly dealing with severe injuries and/or loss of employment a plaintiff would have no choice but to settle the claim and accept a minimal settlement amount to avoid going into debt.
A settlement loan or lawsuit funding is an excellent way to prevent foreclosure, repossession and bankruptcy. It also helps to prevent damage to credit scores of plaintiffs.
How Settlement Loan or Lawsuit Funding Helps Attorneys?
Lawsuit settlement loan eliminates the need of attorneys to accept a minimal settlement amount due to financial pressures of plaintiffs. It empowers attorneys more time to pursue their lawsuit in order to get the maximum settlements their plaintiffs deserve. A larger settlement results in more money to their client and a larger fee for their firm.
Benefits of Lawsuit Settlement Loan or Lawsuit Funding:
Settlement loan or lawsuit funding is always a safe, non-risky and preferred choice. When you apply with a reputed lawsuit funding company, there are no upfront fees or application fees and no monthly fee. No credit or a bad credit is alright. No employment requirements are needed to apply for lawsuit loan.
Unlike a bank loan or cash withdrawal on credit card, which must be repaid over a specific time period, lawsuit settlement loan obtained against a potential lawsuit settlement does not have to be paid back until the lawsuit is resolved.
Advantages of Applying with a Reputed Lawsuit Funding Company:
A reputed lawsuit funding company will provide appropriate amount of lawsuit settlement loan in a timely manner on most types of lawsuits including auto accident, personal injury, employment discrimination, false imprisonment, medical malpractice, wrongful death, workers compensation, civil rights, legal malpractice, class action, construction negligence and more.
Settlement loan or lawsuit loan lo creates a win-win situation for lawsuit plaintiff by providing him/her with immediate cash and his/her attorney time to negotiate a larger cash settlement!
The legal system is unmapped and little known area for most of lawsuit plaintiffs. A lot of lawsuit plaintiffs are being forced to settle early for way less amount of settlement than they are entitled to because they simply cannot afford to wait any longer. But with the timely help of settlement loan or lawsuit funding; there is no reason for them to settle for less than merit of their lawsuit.
Would you like to learn more about lawsuit loan and settlement loan? Visit our website http://www.easylawsuitfunding.com/ to get additional useful knowledge and information about lawsuit loan and make an educated decision to apply for your settlement loan or lawsuit funding today!