14 Jul What are the advantages of legal funding?
What are the advantages of legal funding is a question many people ask when they are in the midst of a lawsuit and need money. Legal funding for lawsuits in Tampa may be the answer to your mounting bills and insufficient income.
When you are waiting for your case to settle, which can take months and years, you can borrow money from a legal funding company. This is also known as pre-settlement funding, pre-settlement cash advance, lawsuit cash advance, or lawsuit loans (which are not typical loans you know of) but it can be important to understand how legal funding works.
The advantages of legal funding
We know that everything in life has its pros and cons, and here, we’re going to present you with pros of pre-settlement funding and explain the ways it may be beneficial for you while you’re waiting for a fair settlement in your personal injury case.
One of the primary benefits of lawsuit funding is that it’s non-recourse. Non-recourse means that the repayment of the cash advance is contingent on the success of your case. You pay back the legal funding company only if you win your case. If the plaintiff loses the case, they don’t pay back anything.
When you receive the cash advance you applied for, you are free to use it for anything you want. You can pay your medical bills, rent, mortgage, living expenses, etc. This is another advantage of the cash advance because it provides plaintiffs with much-needed breathing space when they’re unable to pay all the expenses they have.
Attorneys are typically prohibited from giving money to their clients and with legal funding they can concentrate on handling the cases, rather than solving clients’ financial issues. There are many clients whose financial issues become the number one problem in the entire case and they are obliged to accept a low settlement, so legal funding now gives attorneys the freedom to do what they are best at- practicing law and ensuring the best resolution of the lawsuit possible.
If you’re considering applying for a pre-settlement cash advance, most of the funding companies won’t ask about your credit score. Therefore, if you have a bad credit score, you can still apply for the cash advance and receive it.
How Certified Legal Funding can help
After we receive your quick application, we contact your attorney to request information on your case. Once we receive the information, we evaluate your case very quickly to determine if we can secure your money fast.
Once the funding is approved, we will forward the payment to you without delay. There is no need to appear personally. Everything is completed through e-mail or fax. Our goal is to get your money fast!
The most common cases CLF funds are: motor vehicle accidents, pedestrian accidents, worker’s compensation, slip/trip and falls, wrongful death, and product liability.
If you asked the question: “What are the advantages of legal funding?”, now you know the answer. Feel free to contact the experts at Certified Legal Funding for further information on risk-free cash advances at 800 922-7439.