Minor and serious road accidents, injuries in workplace, injuries while walking in streets etc are common to the people. They suffer from financial losses due to these types of injuries and need to be compensated adequately. However, many of the litigants leave a case just when they get an insignificant amount of money from the defendant.
Often the claims money fails to cover whole of the financial loss due to absence of office work during this period. Most of the plaintiffs leave the legal procedure and settle for a smaller compensation as they have no other source of money. Lawsuit settlement funding has helped such people by timely providing them the financial assistance to take care of their legal and family expenses.
One of the reasons for popularity of lawsuit settlement funding is its hassle-free easy accessibility to the plaintiffs. There are no lengthy procedures to be followed by the applicants of the funds. Besides a short and quick approval process, the fund seekers are pleased to get the cash advance without any credit checks. While approval of the loans comes usually after the lenders have checked an excellent credit history of the borrower, no such checking on the applications is required for the lawsuit funding.
Besides the lenders making no credit checks, the funding for settlement of lawsuit is quickly available without the lender checking the borrowers’ income also. Usual loans are approved only when the borrower is getting a fixed income. But this type of cash advance or funding is available despite your variable income. In fact, the lending company will not ask you to show your income proof.
The only consideration for approval of lawsuit settlement funding is that of your claims the attorney recommends you for the funding. The attorney has full access to your case and he or she can clearly tell that you are worthy of the compensation from the courts. The lender will immediately approve the funds application based on the attorney’s recommendations. However, the amount of funding will depend on lots of factors including the settlement amount you are likely to get as compensation for the injury.
Lawsuit settlement funding helps you financially in your dire circumstances when no other loan is available to you quickly. While you are fighting the case, paying the legal fees charges, bills for medial treatment, and meeting the family expenditures, your limited savings are under the stress. In such difficult times, the settlement-funding amount from the lenders keeps a steady flow of money. This is especially helpful for your family since you may not be working due to injury.
Some people accuse the lawsuit settlement-funding provider of charging the interest at very high rates. But it can be justified. This type of funding has been helping the people in their dire circumstances and so high interest rates are justified, as the lenders have to cover the risks. Do not forget that in case the plaintiff does not win the case, the lender will not be getting the funds back. The advantages of the funding for the plaintiffs are many than the high interest payment.
Call Us Today 866-WE-FUND-U / 866.933.8638
About the author
Michael Smith is the Customer Experience Director at 911 Lawsuit Loans LLC and is responsible for client relations throughout the funding.