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What Are Lawsuit Loans?

Posted on: June 18th, 2012 by admin

A lawsuit loan is a cash advance against a pending settlement for plaintiffs involved in a personal injury lawsuit. This allows the plaintiff to have the necessary funds to pay bills, medical expenses, buy groceries and live as he or she normally would while awaiting settlement. Litigation funding companies provide these loans to those whose lawsuit qualifies.

Commonly known as litigation funding, those who are facing a long, drawn-out lawsuit such as a personal injury lawsuit may take months to settle. Often the individual finds themselves in deep water financially. Because of injuries, they may be facing extensive medical costs and reduced income because of their inability to work. In the meantime, you need money to get by, and this is where a lawsuit loan comes in.

Most people with a solid case will be accepted. With lawsuit loans there is no up-front cost or out-of-pocket expenses to worry about. The litigation funding company will review the information submitted by your attorney. The information provided only pertains to your personal injury claim. There are no questions asked about credit standing, previous or current employment, background, etc.

One huge benefit of lawsuit loans is that the applicant will receive his or her money quickly if approved. Another benefit is the fact that these types of loan are no risk, meaning you do not repay the settlement funding company if you do not win your lawsuit. You only repay the loan if you do win, at the time you actually receive your settlement. In addition, if you receive your money in structured settlement payments, you can repay the funding company with those payments, along with a small fee and interest.

Generally most litigation funding companies loan approximately 10% of the expected settlement. For example, if you are expected to be awarded $75,000 in your settlement, you may be advanced $7,500 if approved. While this process is not for every individual, it may be the best solution for you.

Preparing For The Unexpected

Posted on: May 18th, 2012 by admin

Being prepared is one of the most important tasks in life and can help you get through even the most difficult events with less stress and trauma.  An unfortunate, but common occurrence is a car accident.  When accident victims describe their ordeal during and after a car accident, they all report that it changed their life in a split second.

If an accident happens, and it is at the fault of someone else, you will want to make sure you have all the necessary documentation to file a personal injury claim in court to help pay for repairs or replacing your car, medical bills, loss of work, and even pain and suffering. If you do file a claim in court, you also have the option of getting fast cash with lawsuit funding.  Being prepared will not only  help with your personal injury claim, but also get you the cash you need to survive while you are waiting for your case to settle in court.

Ways To Prepare

.You want to always keep your insurance card in the car with your official car registration.  Most states require these two documents be in every driver’s car at all times, while also being easily accessible.

.After law enforcement and medical attention is secured, you want to make a call to your insurance agent to report and explain the accident.

.Always make sure your car insurance is paid on time and kept up to date.  Keep in touch with your insurance agent to ask about your coverage and to make sure it is good and comprehensive coverage, which will come in handy when and if a car accident happens.

.You should keep emergency items in your car at all times. Including a  first aid kit, notepad, pen, and bottled water along with your official insurance documents.

.Write down the names of witnesses and the license plate number of any cars involved in the accident. Accounts from witnesses are some of the most powerful statements in court.