Breach Of Contract? When Considering A Lawsuit Loan, What Steps Must You Take?

What documents will be required when attempting to obtain lawsuit loans to pursue a claim for a breach of contract? If you follow the steps identified herein, you should have little trouble in obtaining the settlement loan you seek. However, if you fail to follow the simple procedures, you may find it difficult, if not impossible, to obtain funding.

The first item on your agenda will be a Case Review. It will be necessary for you to obtain documentation that clearly sets forth the provisions that have been violated. The violations must be clearly demonstrated in contradistinction to the provisions identified within the four-corners of the contract. Contracts customarily sound in Courts of Equity. There are many factors that will be considered in such a venue that may not be considered otherwise (e.g., fairness of the deal).

Another factor to take into consideration would be your ability to collect from the other party. You're customarily wasting your time if you pursue a judgment-proof defendant. Most attorneys would advise you not to waste your time pursuing someone against whom you may obtain a judgment, but from whom you would never be able to collect.

Prior to determining whether you wish to pursue a claim against the party with whom you have entered the contract, review the contract to determine what, if any, specific violations have occurred. If you do have questions, do not hesitate to contact an attorney to discuss these issues. As is true in most cases, the clock is ticking, and time is typically not on the plaintiff's side. If you're unable to articulate the violations that have occurred, it is customarily a bad idea to pursue a claim against the party with whom you entered the contract.

Once you've reviewed your case, made a determination as to whether the defendant has anything with which to pay any judgment that may be taken against them, and the specific provisions violated, it is now time to determine your specific cause of action against the defendant. If you have not already retained the services of an attorney, this is a point at which you certainly want to do so. It will be necessary for you to identify the correct cause of action against the defendant. If you identify the wrong cause of action, you may both fail in your cause of action and find yourself responsible for expenses and attorney's fees the other party may have incurred.

You will also want to review the other party's credit-history, the other party's history of paying for his/her debts, and the other party's history of dealing with other individuals in the same or similar business transactions. If the other party has a history of treating other individuals unfairly, this conduct increases the likelihood of your prevailing against that party. However, if the other party has treated individuals fairly, then this certainly will be weighed in the defendant's favor.

If you and the other party are jointly-liable for prior loans and a/or advances, it will be necessary, in most cases, to pay off those existing loans prior to pursuing a cause of action against the defendant. Additionally, if you and the other party have obtained financial advances, it is very likely that those advances will either have to be repaid or reconciled prior to pursuing a cause of action against the other party for an alleged breach of contract.

Once again, when pursuing lawsuit loans, if you follow the foregoing steps, you should find it fairly easy to obtain the funding you seek. However, if you fail in any of the foregoing, you may find that you will be unable to obtain a settlement loan.

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