Tips To Get A Lawsuit Loan On Pending Personal Injury Settlement
If you are hurt or injured as a result of the negligence or intentional act of a
third party and have filed a lawsuit or personal injury claim with the help of an attorney, then you are eligible for a lawsuit loan or lawsuit funding against your pending personal injury settlement.
Who is eligible for Lawsuit Loan on Personal Injury Settlement?
A plaintiff in a personal injury lawsuit involving auto accident, aviation accident, bad pharmaceuticals, construction negligence, dog bites, FELA (railroad), Jones Act (maritime), medical malpractice, nursing home malpractice, personal injury, slip & fall, wrongful death or more; and represented by an attorney, is eligible for a lawsuit loan (lawsuit funding) on his or her pending personal injury settlement.
What is a Lawsuit Loan on Pending Personal Injury Settlement?
A lawsuit loan is actually a non-recourse cash advance made (by lawsuit funding company) to a plaintiff in a personal injury case based on the potential value of the case. A personal injury settlement funding is not a loan in true sense, because the money does not have to be paid back unless the case is won or settled.
Tort Laws and Compensation:
Tort is a body of law that provides remedies, usually in the form of monetary compensation, for victims who sustained physical injuries caused by another person. If you have been the victim of a personal injury, you have the right to receive compensation for your damages. But in seeking compensation, you must be careful to avoid the dangers of the legal game.
Always Hire an Experienced Personal Injury Laws Attorney:
In our country, the laws pertaining to personal injury settlements vary from state to state. Because personal injury litigation involves the potential for the parties being sued (the defendants) to be liable for substantial damage awards, they and their insurance carriers make every effort to defeat your claim or reduce its value. An experienced personal injury attorney with a successful track record will be always familiar to the tactics of defense attorneys and insurance companies. This helps you to get a more favorable and better settlement.
Unable to Earn a Living and Facing Mounting Medical and other Expenses:
In modern times, it is expensive to be injured or hurt in an auto accident or some other accident. Medical bills mount quickly, and often they are not covered by insurance. Your mortgage/ rent payments and other bills will not wait until you get better. A disabling injury can result in demotion or job loss, leaving the injured victim with little or no way of avoiding financial ruin.
So many plaintiffs are in dire circumstances, they need money now, not a year or two from now. And an attorney cannot ethically lend money to clients or take them to a banker to get a loan.
How Lawsuit Funding or Lawsuit Loan Helps:
But a lawsuit loan or lawsuit funding can help plaintiffs waiting for their pending personal injury settlements.
On the surface, lawsuit loans or lawsuit funding would seem little different from the standard loans that banks make every day. But following key requirements of that typical bank loans are missing in cash advance from a litigation funding company:
1. Collateral - In a lawsuit loan, collateral is your pending lawsuit. If you lose your lawsuit you pay nothing back to litigation funding company
2. Employment Requirement - No employment is required to obtain a lawsuit loan,
3. Good Credit Score - Bad credit score or no credit score is alright to apply for a lawsuit funding,
4. Contingency Basis - Lawsuit funding provides money to applicants on a strict contingency basis. If the plaintiff loses the claim, the funding company gets nothing back--not even the principal.
Pearl of Wisdom:
The key to surviving financial problems is to not panic when the situation arises. When you panic, the situation may appear worse than it really it and you can (and often will) make bad decisions.
For many plaintiffs waiting for their personal injury settlement, lawsuit funding or lawsuit loan is not only advisable, but necessary in order to keep from falling into debt or bankruptcy.
Lawsuit loan helps plaintiffs go the distance; allow them to hold out for a just and better settlement. By removing external financial pressures on plaintiffs, a lawsuit loan from a reputed and strong litigation funding company enables a lawsuit to be resolved on its true merits. By providing ready cash at right time, a lawsuit funding company creates a Win-Win situation for personal injury lawsuit plaintiffs and their attorneys.
Copyright (c) 2011 Paul Sherman
by: Paul Sherman
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