Lawsuit Advances: An Introduction

2007-03-08 10:33:40

( Financial )



Lawsuit advances is commonly referred to as pre-settlement funding. Basically, lawsuit advances allow the plaintiff to get money immediately, even before a settlement takes place. Pre-settlement funding is for plaintiffs who are injured or those who cannot earn money when the proceedings are still on-going. Automobile accidents, wrongful death and medical malpractice are some of the cases where pre-settlement funding is popular.

Pre-settlement funding greatly benefits the plaintiffs. Most often than not, plaintiffs are injured or are unable to work due to negligence or carelessness of the defendant. They are unable to work, hence they are unable to get their monthly income. Although most lawyers who take on injury cases like these take them on a contingency basis, there are still a lot of expenses to pay for before and during the actual course of the trial. Contingency basis is when the lawyer gets paid after settlement. This is already a big help to a lot of plaintiffs, but it is not enough to see the case through. More often than not, cases are dropped because the plaintiffs simply do not have money to take the case to court.

Lawsuit advances also prevent plaintiffs from agreeing to an early settlement. Most of the time when insurance companies or the defendant knows that the plaintiff is running dangerously low of funds; they offer an early settlement which is only a fraction of the amount you could have won if you had enough funds.

Lawsuit advances are not considered loans. You get your funding subjected to the lender’s approval. If you lose your case, you do not have to pay it back. The risk is solely on the lender. You would just need to provide them with documents related to your case and they can approve your funding within a couple of days.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.