Lawsuit Funding: The Procedure and Advantages for Both Attorneys and Clients
Lawsuit Funding- also familiar as cash advance, litigation finance, pre-settlement and post settlement funding, settlement advances, lawsuit advances, etc.- is the procedure of giving cash advances to the attorneys and clients which is solely based on the credits of a settlement or case that is still pending.
Pre-Settlement Funding are cash funding on litigation that is pending. For repayment, the company that will fund can look only to the proceeding itself. This cash advance is not money for lent. This is just a merit for the interest of the attorney or the client while foreseeing the recovery of the proceeding. Without recapture, there will be no re-payment. Is it morally right for the assignee to send their customer for pre-settlement funding? The answer is yes, provided that: 1) the referring person has no interest financially to the company that will fund; 2) the referring person does not gain merits to the transaction; 3) the company that will fund is not included in the legal contest of the pending proceeding. The gain the referring person can get from the companies that will fund is very obvious- it can ease financial matters, it can provide financial aid during hard times, and it can hold out better settlement.
The process Cash 4 Cases lawsuit loans is simple. You just need to complete a two-page application for the lawsuit to be evaluated. The substance of the legal case will be examined and all the inquiries about the lawsuit are headed to the assignee that handles the lawsuit. The decision is usually processed within 1-2 days upon acquiring the supporting documents and application. It is then the client's decision whether they want to proceed or not. A legal agreement is directed ahead to the assignee for evaluation which will figure the transaction, the fees and rates, the process, and how the customer will acquire their money. The assignee is simply required to recognize the legal claim of the company that funds during the time when payment for settlement is to be given.
On the other hand, Post-Settlement Funding are funds given on lawsuits that are settled. Why would the attorney or the client need this since the case is already settled? This is because payments are usually delayed in most cases due to some legal concerns. The process in post-settlement funding is more compact than pre-settlement advances. Check out http://www.mahalo.com/lawsuit-settlement for more details about lawsuit loans.
For added information regarding lawsuit funding, just visit some websites or funding and finance companies. They can surely address your inquiries. Click here to get started!