If a person is suffering from any kind of serious disease,
accident or injury, he/she may suffer from severe financial problems too. In this situation, one thing that comes as a
savior is Lawsuit funding or litigation funding. It helps victims to get compensation in the
form of cash for the injury through lawful process.
Lawsuit funding is designed to help the plaintiff by taking
the financial stress from him/her. It
helps plaintiff by providing them cash in emergency situations to meet their financial
needs. In the entire process the
attorney gets sufficient time for research to reach on a fair and final settlement
for the petitioner.
Some of the following
advantages of Lawsuit funding are as follows:
- It is not mandatory for the plaintiff to pay back the cash if he/she loses the case as lawsuit is considered as on-recourse. Repayment is done only when the petitioner settles a case successfully.
- Lawsuit funding does not require verification or credit checks of employment because a lawsuit loan is not a loan actually. It means even if you have a bad credit history, you can apply for a lawsuit loan.
- Since lawsuit funding is very different from traditional loans, so a plaintiff does not need to pay monthly charges.
- Lawsuit funding covers medical expenses, mortgage payments, vehicle payments and other financial obligations; so a petitioner does not need to pay for anything.
- Lawsuit funding provides instant financial help to the plaintiff. Within 48 hours of after the filing of application, they can get the loan.
