Loans On Lawsuit Settlement – All Your Questions Answered
When you think of a personal injury lawsuit, the only things that come to mind are pain, endless medical bills and dwindling finances as you struggle with the money drain that a legal battle can be. This happens to be one of the biggest reasons why people think that it is better to not file a case in court at all. Our legal system has become more about money than delivering justice. But now, we have the facility to take up a loan on lawsuit settlement which will help you make ends meet while your case proceedings are underway in court.
The concept of loans on lawsuit settlement is relatively new in the market. It is therefore, pretty obvious that people would have many questions about the true nature of these transactions. In this article, we have assembled a list of the most common questions that may come up in your mind about this form of financial assistance. Hope these help you in understanding loans on lawsuit settlement better.
What sort of out of pocket fees and expenses are involved in these loans?
Mostly No! A good lawsuit financing company should not charge any upfront fee or any application fee, processing fee or any monthly fee. There should be only a single fee for the lawsuit funding or lawsuit cash advance, based upon the length of time to settlement of your case. The only money that you will be required to pay is a predetermined amount payable at the time of successful settlement of your case. If however, the outcome of your legal battle is unfavourable, you will not be required to pay anything at all.
What about documentation?
Yes! You will be required to sign some documents to bring the loan transaction into effect. Firstly, you will have to sign and file an application to obtain the loan. After its approval, you and your attorney will be required to sign a Funding Agreement with the lending company.
How much financial assistance can you expect in loans on lawsuit settlement?
Lawsuit cash advances are generally limited to, from 10% to 15% of the projected case value. The minimum advance is $250 and the maximum amount available on a single case is one million dollars. You will basically get the financial aid needed to carry on daily expenses while your case is pending in court.
How soon can the loan amount be disbursed?
Loans on lawsuit settlement have been designed with the specific needs of plaintiffs in mind so speedy disbursal can be expected. In most cases, you can get your approval/rejection decision for the loan application in as little as 72 hours of filing the application. Funding company will wire your approved lawsuit funds into your bank account or can Fed Ex your funds within 24 hours of receiving your signed Funding Agreement via fax from your attorney.
So go ahead and file for this financial assistance without hesitation. Visit Nlfunding.com for more information on loans on lawsuit settlement.
About The Author
Sydney Banks is a litigation funding expert who openly advocates the many advantages that this option brings for plaintiffs in need of intermittent financial support during the course of cases. She recommends NLFunding.com as the best and most trusted provider of such products in the US.