HomeLegalLawsuit Funding:  Getting Funding to Get Your Settlement

Funding Can Help You Get Your Settement

When you're strapped for cash and struggling to follow through with your lawsuit, settlement funding might make the difference between getting a fair award from the courts and having to sign settlement papers for a much smaller award than your damages. Let's face it -- large companies are in business to make money, not pay it to people who sue them. And when you sue a large company, their small army of lawyers know that their job is to prevent you from getting paid, no matter what it takes.

There are companies out there who are in business to help you when you find yourself in this situation. They charge substantial fees for advancing you cash. But if you don't win your lawsuit, by law they are not allowed to ask you to repay the loan. These cash advance companies may charge you a monthly interest fee, or they may charge you a flat rate. But however they charge you, when you're desperate for cash it is an option you can consider.

Lawsuit Settlement Funding for Your Case

When you're looking at settlement funding, be certain to compare costs of the different companies. Because some charge fees and others charge a percentage, you may find widely varying costs associated with these cash advances, and you want to get the best deal possible. Ask your attorney's advice on which might be the best deal; he can probably give you at least an idea of how much longer your case will drag on, which will help you estimate how much those interest rates may accumulate.

You can find dozens of cash advance companies that deal with legal settlement funding online, but you should also be certain you understand howsettlement funding works, and the pitfalls you may encounter. These companies are not legal in some states because courts have interpreted their activities as gambling on lawsuit outcomes.

Companies that advance cash against the outcome of your lawsuit are not a solution for everyone. If you have other resources such as trust funds, investments, or even family members you can borrow from, that's probably a better deal overall than paying the fees involved with a cash advance company. But realistically, most people don't have that sort of option. When you're in a bind, borrowing money in this manner might be your last and best option.

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