This Guide Is For Those Who Are Seeking Either A Lawsuit Loan Or Lawsuit Funding. (Part 2)

In our previous article, we considered many ways that plaintiffs could make a determination as to whether obtaining either a lawsuit loan or lawsuit funding would be appropriate with respect to their lawsuit. In this article, we will discuss additional issues that must be evaluated prior to making a determination as to whether this form of financial-assistance would be appropriate for the particular case in which the plaintiff finds him/herself.

Clients frequently ask if they will be required to sign any documents. It really depends on the funding-entity to which the application may be submitted. (This is contingent on the type of case the plaintiff submits.)

Many funding-entities may require a signature on the plaintiff's application. However, a number of funding-entities do not require this signature. It is sufficient for those not requiring such signatures for the plaintiff to agree with the terms and conditions that specified in the application.

It is important for the plaintiff to be aware of the fact that if the funding-entity does approve the request for funding, it will be necessary for both the plaintiff and the attorney to sign the documents prior to issuing any funding whatsoever. However, once again, the plaintiff will have an opportunity to review each and every document submitted and to discuss the issues thoroughly with his/her attorney prior to either signing any documents or making any commitment to the funding-entity.

Individuals contacting our site frequently want to know how much funding will they be able to obtain. Customarily, either a lawsuit funding or lawsuit loan amount will be limited to approximately 10%-15% of the projected value of the case. Most funding-entities will loan amounts of $250 to $1 million. Obviously, the amount that will be funded will be contingent on the case that is presented to the underwriters.

Perhaps an unanticipated benefit of obtaining either lawsuit loan or lawsuit funding is the fact that, if the plaintiff desires to do so, the defendant may be notified that such funding was requested and obtained. This signals to the defendant that individuals who are experienced in reviewing such matters have determined that the lawsuit submitted to the underwriters was deemed meritorious and likely to result in a settlement at least 10-times greater than the amount advanced. This can provide a tremendous psychological-boost to the plaintiff. (Not to mention the fact that the plaintiff is much more likely, upon receipt of the requested funding, to be able to continue to pursue the litigation to an appropriate conclusion.)

Furthermore, once the plaintiff has obtained funding, the plaintiff is much more likely to be able to continue to pursue the litigation until he/she obtains a fair-and-equitable settlement. In the absence of such funding, unfortunately, many plaintiffs are forced to abandon their cases due to a lack of financial sustenance.

Those who submit applications for settlement loans are obviously anxious to know how long it will take to obtain the financial-assistance requested. This is going to be contingent on numerous factors, most significant of which is the type of case presented to the underwriters. There are certain types of cases that are classified as "quick-cash" cases. These cases are customarily relegated to automobile accidents in which the plaintiff has no outstanding liens that may be placed against the settlement.

Commonly, the greatest obstacle in obtaining a determination regarding an application submitted for either a lawsuit loan or lawsuit funding is the difficulty in obtaining the requisite documentation. It is very important that the plaintiff realize that if the requisite documentation is provided timely, a good broker will get the documentation to the funding-entity best-suited for the client's needs and a determination may be rendered as to whether the case will be approved within 72-96 hours. Once a case is approved for funding, the plaintiff will have an opportunity to review the documents for five days to determine whether the terms of that agreement are agreeable.

There remains a great deal of information that plaintiffs should know prior to reaching any conclusion as to whether either lawsuit loan or lawsuit funding would be appropriate for them. Those who consider settlement loans should certainly devote the time required to become familiar with this process. In the next article, we'll provide additional information that will assist plaintiffs in determining whether a pre-settlement loan would be right for them.

Looking for more information about lawsuit loans? Please allow us to provide more information regarding lawsuit settlement loans. Please stop by today, and you may either apply online for a lawsuit settlement loan or review our lawsuit loan frequently asked questions archive.