Lawsuit Lending Companies
Lawsuit lending companies are also known as lawsuit funding or financing companies and are set up to provide lawsuit loans and cash advances before the actual settlement of the case takes place.
How these lenders work is to advance an amount to the plaintiff based on their expected settlement. The financing company takes into accounts the facts and merits of the case and based on that the funds are advances. So in essence you are getting some of your lawsuit settlement touch screen solution money in advance.
What sort of cases are eligible?
Many different cases are eligible for a lawsuit loan. The most common ones are:
- Car accidents
- Motor bike accidents
- Pedestrian accidents
- Product liability
- Wrongful Death
- Construction accidents
- Slip and Fall
But there are also many others that would be considered. The best way to find out if your case qualifies would be to contact a lawsuit lending company directly after letting your attorney know that you are looking for a cash advance on your lawsuit. The attorney would then be able to provide more information to the funding company about your case.
How much can you receive?
It is common practice for lawsuit lending companies to advance up to 10-15% of the estimated value of your case. So if your case is thought to be valued at $500,000 you would reasonably expect to receive between $50-$75,000. This is just a standard estimate and it can always vary depending on how far along your case is and the valuation determined by the funding company.
What are the rates?
The rates are variable but there are generally at least 2.5% per month. Again, it depends on the type of case, the probability of it settling and how long it is expected before settlement takes place. All of these factors are taken into account when determining the rate in https://avdiscovery.com.my/multitouch-solutions/
What states can you get a lawsuit loan in?
Lawsuit loans are available in most states in the US. Check with the individual lawsuit lending company to see if they provide services for your particular state.
Are there and credit or income checks?
No there is no credit or income history verification mainly because the loans are advanced based on your case, not on your ability to pay it back. The proceeds of your settlement are what is used to repay the amount and if you do not win there is nothing to repay. This is why credit and income history is not taken into account.