If you have any lawsuit pending for claims for damages due to accident or negligence of others and are financially constrained to meet your daily expenses as well as legal expenses, you can get lawsuit loans to tide over the situation.
Flexibility of loans
You will find funding companies offering you flexible terms in loans on searching online for lawsuit loans. These funding companies will provide you with cash within short time after being satisfied with the information you provide and on assessment of the merits of the pending lawsuit. You can opt for the best plan for repayment from among the plans offered by them which carry attractive rates of interest. The most important advantage you get is that in case your lawsuit is not settled within 2 years, you do not have to pay any interest for the remaining period till your claims are settled.
How much you can get?
Normally 15% of the projected settlement amount is paid as cash advance which ranges from $ 250 to $ 250,000. But the most attractive term of the lawsuit loans is that you do not have to pay anything if your claim is not settled and furthermore, interest is payable after the initial 2 years and not after that regardless the period of time taken for settlement. These funding companies will not ask you to repay the loan amount together with interest until you receive your claim amount in full. For part payment you receive you do not have to pay the funding company anything.
These companies also provide funding for Worker’s Compensation claims in some states, the list of which you can find on logging onto their websites. You do not have to pay any charges at the first instance or monthly charges at the time of disbursement. Principal amount together with accrued interest and principal amount is repayable at the time of settlement through your attorney.
To find out whether you are eligible for lawsuit loans, the first thing you have to find out is that whether your lawsuit falls under the areas mentioned in the list provided by the funding companies. Although most claims are related to personal injury caused by many reasons, you will also be eligible for lawsuit funding in case of animal bites, food poisoning, animal bites, sexual harassment and product liability. Once you find that you are eligible, just fill up the prescribed form with the required particulars. They will also require your attorney to submit information as required by them.
Any common person is benefitted with these lawsuit loans where during the period of unemployment statutory liabilities can be met such as payment of education expenses, electricity and medical bills together with the legal expenses. This profession is completely ethical and has opened up the market which creates an open and free system for plaintiffs to use their options to their discretion. Thus a plaintiff gets an opportunity to utilize full advantage of an available and viable option through these loans to tide over financial crisis until the time of settlement of the lawsuit. You can seek an appointment with the funding company you choose where your case will be discussed at length and prudent advice provided to complete the formalities for getting the loan.
Author bio: David is a blogger who live in UK with his wife and 2 kids. He writes on the benefits offered by lawsuit loans. You may check out more about this fantastic opportunity and how it helps the professionals in the field.