Five Good Reasons You Should Not Obtain Lawsuit Loans

 

Have you ever given serious consideration as to what arguments may be made against obtaining either lawsuit loans or settlement loans? Many people have gone beyond just answering yes, and have actually started off to take action. For many it's just a passing thought that never gets anywhere and is soon forgotten. A great number of people never try because they do not fully understand where to start. Others believe it might require a considerable amount of work, making them lose interest. Others are either too lazy to try or lack sufficient motivation.

 

Are these explanations really logical? Are they convincing? Were the reasons in favor considered? Did both the Pro- as well as the Con-side get considered? The issue is of sufficient importance to warrant thoughtful analysis.

 

Maybe there should be a little bit more contemplation... Let's just have a look at 5 reasons in support of avoiding obtaining settlement loans and put a bit of balanced perspective inside the conversation.

 

First, individuals should never consider obtaining either lawsuit loans or settlement loans if they are filing frivolous claims. O.K., I fully understand your argument that you are in desperate need of money. That is certainly an understandable concern. However, most of us know a frivolous lawsuit when we see it. Certainly, if an individual is pursuing a claim in which facts have been falsified, this is certainly a frivolous act. Moreover, consider that it may be classified as a “malicious” act. If the latter is the case, the plaintiff may be subjected to some severe penalties.

 

Second, individuals should not consider obtaining litigation funding if the perceived value of the claim is less than $10,000. That's actually the case because it should be borne in mind that litigation funding is customarily limited to 10% of the perceived value of the claim. Therefore, for those pursuing lawsuit loans and settlement loans, it is preferable to reserve such funding for cases that are likely to be awarded a minimum of $10,000. If the perceived value of your claim is $10,000, you are often able to obtain as much as $1000 in litigation funding. (Remember, when obtaining lawsuit funding, if you do not prevail in the underlying claim, you repay absolutely nothing.) Undoubtedly, individuals may obtain loans as little as $100. However, one must seriously consider the value of obtaining funding in such instances.

 

Third, individuals should not pursue lawsuit loans and settlement loans if their attorneys are either opposed to such funding or unwilling to cooperate with underwriters seeking to obtain a proper valuation of their claims. In addition to the foregoing, without your attorney’s cooperation, your request for litigation funding is essentially “dead-in-the-water”!

 

Fourth, individuals should not obtain a lawsuit loan prior to having a clear understanding of litigation funding. It is customarily quite easy to obtain this understanding. However, it is necessary to seek guidance from those who are experienced in this relatively new industry. It is often preferable to work with a broker who’ll be able to direct you to many funding-entities, as opposed to being limited to one particular group of underwriters. Certainly, when working with a broker, you significantly enhance the likelihood of obtaining the funding that you seek.

 

Last, but not necessarily least, individuals should not pursue lawsuit loans and settlement loans if their intent is merely to squander the funds obtained.

 

Certainly, one may utilize the funding in any manner deemed appropriate. However, it is important to realize that such funding was designed to assist individuals to continue to pursue litigation in which they were involved. Historically, many individuals were forced to abandon their claims merely because they could not obtain financial assistance from family, friends, attorneys et al.

 

I suggest you analyze those reasons and mentally weigh them. These points strongly suggest that you ought to seriously think about the propriety of obtaining settlement loans.

 

Stop for one moment and consider the aforementioned seriously. Don't you think that maybe, the process of obtaining lawsuit loans and settlement loans is worthy of serious consideration?

 

Do you think a lawsuit settlement loan is right for you? Would you like to learn more about lawsuitloans?  Please visit us today and you may apply online for lawsuit funding and learn more about the  benefits of settlement loans.