While most Law Firms are familiar with Lawsuit Funding, we wanted to include a page explaining the facts regarding lawsuit funding, and how these services can help not only the client in their difficult financial situation but the attorney and/or law firm as well.
1) Lawsuit Funding is a tool. It is an investment in the anticipated settlement of a lawsuit. Designed to provide financial relief to plaintiffs, while providing the attorney time to get a real settlement in their case, instead of being pressured to settle for the first “low ball” offer to come along. Insurance companies intentionally prolong a case, knowing that most plaintiffs will not be able to wait for a legitimate offer, often saving as much as 80%.
2) Lawsuit Funding is made on a non-recourse basis. If the case is lost, there is no repayment necessary.
3) Easy Lawsuit Funds in no way interferes with the handing of the case. We do not make any comments or suggestions regarding the handling of the case.
4) While the cost of the money is considerably higher than a Home Equity Loan, or a credit card advance, with a lawsuit cash advance, there are no monthly payments, no out of pocket expenses, and, if the case is lost, no repayment necessary. The home equity loan and credit cards advance both require monthly payments and full payment, regardless of the outcome of the case.
5) The client’s credit rating is a non-issue, which for many plaintiffs, is a very real concern. Having had their income interrupted on a long term basis is bound to affect anybody’s credit rating. Most plaintiffs would not qualify for any type of funding.
6) The client’s employment status is a non-issue. Many plaintiffs are no longer able to work.
7) We are careful not to over fund the case. We limit our funding to 10-15% of the anticipated settlement amount, on non-settled cases. Settled cases are eligible for higher percentages.
8) The attorney is not guaranteeing the outcome of the case in any way. They only agree to repay the funding from the settlement of the case. Nothing else. While this only scratches the surface of the Facts Regarding Lawsuit Funding, it does provide a brief understanding of what we do. If you have any questions regarding Lawsuit Funding or Attorney Funding, please don’t hesitate to call us.
Easy Lawsuit Funds contact numbers – Office – (856) 340-6133 | Fax – (856) 741-1222