It is amazing that more than 99% of plaintiffs (viz., persons who are harmed and are suing some other party) and almost as many attorneys are unaware Cash Money can be accessed immediately (i.e., prior to a lawsuit settlement). Lawsuit loans are simply that - a cash advance now, to the plaintiff, prior to settlement.
The collateral against which a lawsuit loan is made is the quality of the claim. Lenders don't care about your credit, your employment, etc. The principal considerations are, "Are you likely to win? If so, are you likely to get paid when you win your case? It's really that simple!
What criteria should you use in determining the need for such assistance? Well, that's completely up to you. A good lender will provide you with all the information you need to make an informed decision.
After evaluating your lawsuit, the lender will disclose explicitly costs incurred in repaying your Lawsuit Loan. Therefore, it is essential that you evaluate your situation to determine whether the loan makes sense.
It is important to realize that there are never any up-front costs. These loans are "non-recourse." Non-recourse means that if you lose your case, you never have to repay the loan! That's difficult to beat!
There are pros and cons in obtaining Lawsuit Loans. If your case qualifies, the cash-advance typically comes quickly. (This assumes, of course, that you have provided all of the information required to process your application.
A good lender will remove the burden of obtaining money to complete and develop cases and alleviate the constant need for scraping together nickels and dimes just for living-expenses.
Non-recourse loans help individuals who are having financial difficulties. Most lenders require only a statutory lien that is placed against your future settlement.
There are no credit checks, monthly payments, notes, or other security payments required. Such arrangements allow individuals to sustain their personal lives and give the attorney the necessary time to achieve the full value of the case.
Frequently, claimants have missed work or lost their job and are unable to meet their rent or automobile payments. Thus, these individuals are often forced into accepting lesser settlement amounts due to these pressing financial difficulties.
It is in such circumstances that lawsuit loans are just what you need to buy a little breathing-room.