Is Pre Settlement Funding an Alternative
When LawLeaf receives and application for pre settlement funding chances are the plaintiff doesn't want to accept an offer made by the defense. The question within the litigation financing industry pertains to pre settlement funding as a financial viable option. Pre settlement funding is defined as a cash advance against a pending personal injury or commercial litigation dispute. The money comes in form of non recourse meaning you only pay back a lender if you are successful in winning compensation.
When pre settlement funding becomes an alternative:
- When the plaintiff needs money to pay for bills
- To help extend the claim out for a longer period of time without having to settle for less money.
- Providing an attorney more time to negotiate a higher settlement
- Plaintiff does not have the financial resources to continue the litigation process without financial help
The alternative for most people would be to settle their case prematurely. Prior to reaching a monetary settlement consider the following:
- Will the settlement pay for all costs related to the incident
- What other ongoing costs such as medical or rehabilitation expenses
- Does the settlement pay for loss of wages or future loss of wages
- Will the settlement pay for damaged property such as an automobile or valuable lost as a result
- After paying your attorney the contingent fee will there be enough money left over making it worth while to settle your case for less
Pre settlement funding has become very popular amongst both legal professionals and plaintiffs throughout the United States. Prior to this alternative, insurance companies could get away with lower settlement offers because they knew the plaintiff had no where to turn. By leveling the playing field pre settlement funding can put you in a better position to get full compensation for your claim.
In closing, while pre settlement funding may not be an alternative for some people, others it can help without having to settle for less.
About the Author:
LawLeaf is an online Lawsuit Funding service that matches plaintiffs with lenders. If you are interested in lawsuit funding and would like our lenders to compete for your business, visit LawLeaf.com today.
