What You Need To Know About Pre Settlement Lawsuit Funding

Pre settlement lawsuit funding is the financing of a legal case that has been resolved with a final award in a lawsuit. The purpose of this sort of funding is to settle the debt so the plaintiff will not have to pay it out. This may include an out of court settlement. The pre-settlement lawsuit funding usually has to be done in cash because most plaintiffs do not have credit history and do not have the ability to obtain a loan. This is usually one of the reasons that pre settlement funding has to be done in cash. 

The courts require that the funding provided to a plaintiff be done in cash if the plaintiff is unable to obtain a loan from another party or from a bank. There are several different companies that provide pre-settlement lawsuit funding at lawsuitssettlementfunding.com. Typically these companies will require a down payment equal to 10% of the anticipated damages. The amount of the down payment will depend on many factors including the cost of the settlement being sought. Sometimes plaintiffs are required to make monthly payments into an account that will be used to pay the outstanding expenses that occur after the pre-settlement lawsuit funding is received. Another aspect to pre-settlement lawsuit funding is that the funding company will require a credit check. Many plaintiffs may have excellent credit but may have very poor credit. The pre settlement funding company will want to know exactly what the credit score of the plaintiff is in order to determine if the pre settlement lawsuit is worth the cash outlay. A credit check is typically used at this stage of the process. 

Read more about lawyers at https://en.wikipedia.org/wiki/Attorney. The final aspect of pre-settlement lawsuit funding is that it will generally take about a year before the money is actually disbursed. During this year the plaintiff will have to submit all of the required paperwork to the funding companies. This paperwork will include a financial analysis of the case including any current and future medical expenses. Some plaintiffs will not have to submit financial information. The court will decide if the pre-settlement lawsuit funding is warranted based on the amount of money involved. The final aspect of pre-settlement lawsuit funding is that if the plaintiff does not win the case the money from the pre-settlement lawsuit funding should be returned to him or her. Many plaintiffs expect to receive all of their money back. This is not the case. The pre settlement funding company will often demand that the plaintiff agree to pay for their legal fees. If the plaintiff does not have money to pay for legal fees then there is no return on the pre-settlement lawsuit funding. There are many things to take into consideration when you are looking at pre-settlement lawsuit funding. 

Be sure to thoroughly review all of your options before you sign on the dotted line. Take into consideration the amount of money involved and any associated fees and costs. Also remember that you will not get back the full amount of the pre-settlement lawsuit funding, but you may be able to get a smaller percentage of your original claim. The pre-settlement lawsuit funding company is going to ask that you agree to the terms before you sign the agreement and this should be done thoroughly. Be sure to see more here!