Monday 2 January 2012

What Are Lawsuit Cash Advances? How They Work and How They Can Help

Joshua S. Smith
Lawsuits are very costly and require a lot of time resulting in lost work, loss of a job. Millions of people every year are faced with residual hardship because of the circumstances of their lawsuit, or the effect it has on them. Many going through the legal process are either unemployed, injured, can't pay their Lawyer, or all of the above.

Case Types Eligible For Cash Advances on Your Lawsuit

    * Personal Injury
    * Automobile Accident
    * Wrongful Death
    * Medical Malpractice
    * Wrongful Termination
    * Whistle blower
    * Civil Rights
    * Nursing Home Malpractice
    * Select Divorce Cases

In the past, if a person was enduring a financial hardship they could take out a loan at the local bank. Due to the current economic situation, there aren't many options out there. With bills piling up and expenses running thin due to a lawsuit, it is a much needed alternative than filing bankruptcy, or resorting to other desperate options to make ends meat.

The are many myths about cash advances for lawsuits, including that if someone loses a case, that they have to pay back the amount they were paid. This is not true. This is considered non-recourse funding, meaning that if the case is not successful in winning the judgement the Plaintiff owes nothing.

The financial pressure of a legal proceeding can cause many different hardships to an individual on top of being hurt/injured, unemployed, overdue on bills, etc.

Ways it can help

    * Be able to you all of your bills
    * Make your rent payment
    * Pay your legal/court fees
    * Pay your Lawyer retainer fees
    * Make your car payment, or buy a new car

Many Plaintiffs in lawsuits wait until they are already too deep in debt before they take action a seek help for their lawsuit. The best time to apply for an advance is right after it happens.

How to apply

Applying is easy. All you need to do is fill out an application with your general information and submit it to the company that you are applying for funding with. That is all of the leg work an applicant has to do, the rest is done between the underwriters and the Attorney designated to the case.

Case documentation is required by most funding company's. This includes police reports, depositions, medical records, surgical records, etc. When the necessary documents are satisfied, the underwriting processes take 1-2 business days.

When approved, funds are disbursed immediately by check or wire transfer.

In the Legal Finance industry cash advances for lawsuits are one of the industry leaders, and most well respected establishments. Providing funding for many different types of cases from injury related to medical malpractice.

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