subject: How To Apply For A Lawsuit Loan [print this page] Frequently when a person is involved in a personal injury accident, they'll find themselves unable to work and slowly running out of funds. Although at some point, the person might receive an insurance settlement that will ultimately compensate them for the injuries they have acquired, the regular personal injury accident victim has to often determine what to do until they obtain this settlement. One possibility is a "lawsuit loan" otherwise known as "lawsuit financing", "lawsuit funding" or a "lawsuit cash advance".
A "lawsuit loan" or "lawsuit cash advance" is a cash advance created against the proceeds a personal injury accident victim will receive from an insurance settlement or personal injury lawsuit. Basically, the cash advance isn't a loan simply because the proceeds never have to be paid back if the accident victim receives no settlement.
"Lawsuit loans" or "lawsuit cash advances" will often be provided in cases that engage personal injury including motor vehicle accidents, medical malpractice claims, slip and fall accidents, product liability claims, animal bite claims and worker's compensation injuries where the victim is represented by an attorney.
A person will normally apply for a "lawsuit loan" or "lawsuit cash advance" by contacting a company like Lawsuit Cash Advance, LLC that offers this kind of specialty funding. The person will be expected to provide information pertinent to their case in order to be considered as a possible recipient of a "lawsuit loan" or "lawsuit cash advance". In the beginning, they and their attorney will need to submit a questionnaire, and this request for information will be followed up by a request for any supplemental documentation pertinent to the person's personal injury case like police reports, incident reports, doctors' bills, medical records and other legal documents.
Once the person has provided all the required paperwork necessary to evaluate their case, a lawsuit funding company such as Lawsuit Cash Advance, LLC will subsequently evaluate the accident victim's case in the same way any underwriter would. An assessment will have to be done as to the likelihood that funds advanced will ultimately be paid back and to the amount the personal injury accident victim can actually be advanced.
As soon as the personal injury accident victim's case has been evaluated, if they are eligible, they'll then be issued a "lawsuit loan" or "lawsuit cash advance". Funds can mostly be provided within 24 hours of receipt and approval of the application and all supporting documentation.
