10 Rules of Lawsuit Loans
Searching for a lawsuit loan can be a confusing, frustrating, and painful process. You have most likely been injured and had to file suit against someone to recoup damages. You may or may not be able to work and now you are having trouble making ends meet financially. You are in a difficult situation well before you start the process of finding a lawsuit loan which is why I want to share my experience in the lawsuit loan industry with my 10 rules. I hope that this makes the process easier for you and allows you to secure a lawsuit loan and to ultimately receive the damages that you deserve.
First of all, let me quickly define a lawsuit loan:
Lawsuit loan definition:A cash advance based upon the merits of a lawsuit that provides a plaintiff with sufficient funding to reach the conclusion of the case when the plaintiff will receive his/her fair share of the settlement or verdict. Lawsuit loans are not based on a plaintiff’s prior credit or bankruptcy status. Lawsuit financing companies give non-recourse funding to plaintiffs thus requiring the plaintiff to pay back the advance and fees/interest only upon a favorable decision in the case. If the case is lost then the cash advance is kept by the plaintiff with no obligation. Therefore, a lawsuit loan is not a true “loan” but rather a pre-settlement cash advance also know as: litigation funding, litigation finance, litigation loan, litigation cash advance, lawsuit funding, lawsuit cash advance, lawsuit financing, case loan, case cash advance, plaintiff cash advance, litigant funding, pre-settlement loan, and pre-settlement lending.
The following are my 10 Rules of Lawsuit Loans, please read them and understand them as they should help every plaintiff through this difficult time.
10) Understand your case
10 Rules of Lawsuit Loans
The Funding Exchange - Your Online Market for Litigation Funding
Credit: Tony Perkins
Copyright: The Funding Exchange, LLC
Takeaways
- Lawsuit loans take time.
- Attorneys should be kept up-to-date.
- Plaintiffs need to be patient.
Resources
- The Funding Exchange (www.TheFunding Exchange.com)
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Posted on 04/30/2008 at 9:04:17 PM