Settlement funding is a type of legal funding. It is a settlement of money to the plaintiff who has applied a lawsuit in the court with the help of the attorney. When the case is concluded against the defendant, then the defendant must repay no matter what according to the judgment. But the defendant can repay the amount in a structured amount.. The settlement amount can be either small or large. Because the complainant will claim for the present medical bills and medical bills in the future and for other expenses also. The defendant can seek the help of a third party funding company in order to settle the compensation to the plaintiff. The defendant can get permission from the court to settle the amount periodically it means the defendant can settle the amount every three or four months. So that the defendant will also not feel the burden in order to settle the money at the same time the plaintiff will also get benefited with the help of the settlement funds.
Another type of Settlement Funding is issued to the plaintiff. It is approved after the plaintiff files a lawsuit in the court with the help of a plaintiff. There are two types of settlement funding one is pre settlement funding and another one is post settlement funding. The Pre settlement funding is a legal funding in that the plaintiff applies for a lawsuit loan in the financial institution after a lawsuit is filed in the court and waiting for the judgment the judgement can be positive as well as negative. But to face the current financial needs and to take care of the medical bills if the person is injured severely the plaintiff needs money. So he approaches a legal funding company.
In another type of settlement funding the post settlement funding is claimed after the judgment and waiting for the compensation from the defendant. When the judgment is to settle the plaintiff with money no defendant will pay it in bulk amount but will pay in a monthly basis or any other periodical basis. Till that if the plaintiff has to face the economic needs and pay any bills then the plaintiff seeks the help of funding company.
The funding company gets benefited if and if only the plaintiff succeeds the lawsuit and gets compensation from the defendant, if not it gets nothing. The company does not ask the plaintiff to pay a monthly fee, processing fee, application fee, upfront fee and any sort of hidden fees. Then the company does not ask for any personal security to issue the legal fund. Only the attorney and the plaintiff are involved in the settlement funding. And the dealing is kept safe.
We offer a fast approval for all sorts of settlement funding. When it is approved we will make the plaintiff to get it soon and also get the benefits of the settlement funds. Usually we send the money to the account of the plaintiff within the next 24 hours of the approval.