Legal loan is also known as lawsuit finance, lawsuit cash advance, plaintiff cash advance and pre-settlement loan. Such funding can ease the financial pressure of the litigant and allow him/her to manage the family expenses and other bills like home rent, legal fees, medical bills, utility bills accordingly.
Where to take Legal loans from?
Legal loan or Lawsuit cash advance can be easily taken from the financing firms. These funding companies act as a lifesaver for the litigants who are struggling to face the legal cases due to uncertain financial burden. The third party funding company provides cash to the accuser before the case gets settled, so that they can meet their financial needs. With the help of the legal loan, the litigant can also easily manage their pending bills, debts, rent and other expenses.
The lawsuit loan is not exactly like the conventional loan but on the contrary, it is a kind of cash advance that is offered to the accuser that is non-recourse in nature. This means that you repay the allotted fund to the financial company only if you win the case or the lawsuit is settled in your favor. On the other hand, if you lose the case or the amount that is obtained from the funded company is not greater than the borrowed fund, you are also not liable to repay the same.
Who can obtain legal loan?
Any plaintiff, who is facing financial problem due to lawsuit, can easily apply for lawsuit cash advance so that he/she can manage the financial hardship during the litigation. Moreover, litigants falling under the case of auto/vehicle accident, pharmaceutical cases, sexual abuse/harassment, life insurance buy-outs and others can also apply for legal lawsuit fund. There are no terms and conditions that are required to fulfill to receive lawsuit loans. It is directly provided to the plaintiff on the basis of a strong case.