Pre-settlement legal funding, also known as litigation financing or lawsuit funding, is a form of financial assistance that provides plaintiffs with cash advances to cover the costs of legal proceedings. This type of funding is becoming increasingly popular as more people seek legal recourse for personal injury or other types of legal disputes.
Here at Certified Legal Funding, we specialize in helping personal injury victims regain the control of their lives and focus on recovery. In this blog post, we will cover some of the most frequent questions we receive from our clients.
The Effects of Personal Injury
If you are involved in a lawsuit, you may be familiar with the high costs associated with legal proceedings. From lawyer fees to court costs and other expenses, the financial burden of litigation can be overwhelming, especially if you are unable to work due to the injury or other circumstances that led to the lawsuit in the first place. Pre-settlement legal funding provides a solution to this problem by offering plaintiffs the opportunity to receive cash advances before their cases are resolved.
How Pre-Settlement Legal Funding Works
Pre-settlement legal funding is available for plaintiffs who have filed a lawsuit and are awaiting a settlement or judgment. To apply for funding, you will need to provide some basic information about your case, including the type of lawsuit, the amount of damages being sought, and the anticipated timeline for resolution.
Once you have been approved for funding, we will provide you with a cash advance that you can use to cover your legal expenses, such as lawyer fees, court costs, and medical bills. The amount of the advance will depend on the strength of your case, the likelihood of success, and the amount of damages being sought.
Repayment of the advance is typically deferred until your case is settled or resolved. If you win your case, you will be required to repay the advance. If you lose your case, you will not be required to repay the advance.
Benefits of Pre-Settlement Legal Funding
There are several benefits to obtaining pre-settlement legal funding. One of the primary benefits is that it provides plaintiffs with immediate financial relief. If you are unable to work due to your injury or other circumstances, you may be struggling to make ends meet. Pre-settlement legal funding can help cover your living expenses, so you don’t have to worry about how you will pay your bills while you wait for your case to be resolved.
Another benefit of pre-settlement legal funding is that it can help level the playing field in legal disputes. Insurance companies and other deep-pocketed defendants often have the financial resources to drag out legal proceedings in the hopes of wearing down plaintiffs. Pre-settlement legal funding can help plaintiffs stay afloat financially, so they are not forced to accept a lower settlement offer simply because they are running out of money.
Finally, pre-settlement legal funding is non-recourse, which means that if you lose your case, you are not responsible for repaying the advance. This eliminates the risk of incurring further financial hardship if your case does not go as planned.
Certified Legal Funding Can Help You Regain Your Financial Freedom
Pre-settlement legal funding can be a valuable resource for plaintiffs who are struggling to cover the costs of legal proceedings. It provides immediate financial relief, helps level the playing field in legal disputes, and eliminates the risk of further financial hardship if the case does not go as planned.
If you have questions we didn’t cover in this article, feel free to give us a call at 800 922-7439 and our friendly personnel will be more than happy to answer all your questions and help you apply over the phone. If you feel more comfortable applying on your own, you can fill out our short application form in a matter of seconds and we will take care of the rest with your attorney.