One of the sneaky tricks big companies will use to force a settlement for a smaller amount is to force the case to drag on and on without a verdict. Whatever techniques are needed to accomplish this they will employ, i.e. requests for additional time to prepare further evidence, and so on. By doing so they know that many individuals who are already under financial stress-due to the injuries or job loss that is being litigated-will settle for far less than they could have gotten had they persevered till the end of the lawsuit. Let's take an example.
Say you are injured in an accident at work that is due 100% to employer negligence. Your attorney advises you to sue the employer for $80,000 and the case begins to be litigated. After about six months, your savings is just about run dry, and the employer's attorneys contact you with an offer of $10,000. You might be tempted to take this much smaller amount at that point, because it is one of your few options to get money right away.
Now say that instead of accepting the much lower amount, you apply for pre settlement lawsuit funding. If you apply for $10,000, you should be able to make it the full length of the trial without needing additional money. At the end of your lawsuit, you are awarded the full amount of $80,000 in compensation. Although you will have to pay back the money you borrowed, that still leaves you with close to $70k to pay your lawyer's fees and medical bills with. That's a lot of money!
By extending individual plaintiffs a lifeline in the middle of their litigation, pre settlement lawsuit funding allows every plaintiff in cases such as:
• personal injury
• motor vehicle/passenger injury
• worker's compensation
• medical malpractice lawsuits
There is usually no cost to determine if you are eligible for a lawsuit cash advance-lenders can determine in a few minutes whether your case would be likely to win or not. If it seems favorable, they will contact your lawyer and the process is easy from there. You should be notified (generally within 24-36 hours) if you have received a lawsuit loan.
Pre settlement lawsuit funding is what's called "non-recourse" meaning that it is offered with the understanding that if you lose your case, you don't pay back the money. Lawsuit funding agencies understand that this is a tough time for you financially, which is why they offer these types of loans risk-free. Sure, money borrowed now is money you'll have to pay back later. However, when keeping in mind the bigger picture that a pre settlement loan can help you to obtain a much larger compensation amount in the end, most people agree that it is worth it.
