Pre settlement funding is one of the two types of settlement funding methods. If a plaintiff has a pending case he can get the loan from the company depending on the case. The defendant can settle the whole amount expected by the plaintiff when the case is concluded against him. He may also provide the plaintiff with a smaller amount than he expected. If this happens, then the plaintiff needs to pay only that amount to the company. We provide loans for the cases which is in a pending state rather than the case that is solved.
With the help of an Attorney, a plaintiff can ask for a loan from a company based on his suggestion. As he has experience in this field, he can give the correct decision needed. We, the pre settlement funding company, contact the lawyer to get details about the case. According to his answer, we provide loan to the plaintiff after consulting the nature of the case with our team. The reason should be valid and strong enough for sanctioning the loan. When the case is settled, a plaintiff can settle the amount to the company. Else, he need not pay the amount borrowed.
The case can take many years to get settled and in turn this reduces the amount to be paid by the plaintiff which becomes another advantage for the plaintiff. If a plaintiff’s reason is not strong enough, we will just deny the application. They are not loans actually they can be rightly said as cash advances or investments. The pre settlement funding process does not occur in each and every state. Some selective states follow this process. They are non recourse funds in nature which means that the plaintiff has to settle the amount only when the settlement is made else he need not.
These funds can be applied for personal injuries cases like accidents, deaths, and also for skip and fall injuries. Each plaintiff must have an attorney to represent his case in the court. If the case is successful, then the Attorney is paid first by the plaintiff. If it fails, then he is not paid. The Attorney helps the plaintiff in all ways he can. He will be as a support to the plaintiff throughout the case. The plaintiff can also refer him to others, friends or relatives if he likes his way of approaching the case in the court.
After applying the form, the case is settled within a day or two depending on the nature of the case claimed for. These funds can also be applied for racial discrimination and also for medical malpractice cases. It is absolutely risk free for the plaintiff since there is no chance for repaying the money. There is no fee for the application fee it is available in the website and the plaintiffs can make use of it for clarifying any doubts regarding lawsuits. If the case is settled, the plaintiff has to pay some settlement to the company which is very much low as 1%.