If you were recently injured or otherwise harmed by a large company or another party with deep pockets, you might be looking to file a lawsuit or negotiate a settlement to be made whole again. This could be an especially difficult time in your life though if you are having trouble earning because of the harm that was done to you. That's where a lawsuit funding loan can come in to save the day. Here's how this type of loan could help you.
Get Money Now
When you apply for a lawsuit funding or settlement loan, you are getting money from a lender who believes it is quite likely that you will receive a large payout in the future once your case is complete. This lender is giving you money now so you can pay your bills while you wait for the legal process to run its course. If you are having trouble making ends meet, a lawsuit loan could be a Godsend. You'll be able to pay your mortgage, car payment and put food on the table while you wait for your lawyers to finish negotiating with the other side. When the settlement or lawsuit payout finally arrives, you then pay back the amount that was given to you in advance by the lawsuit funding lender, plus interest.
You Might Not Have to Pay Anything If You Lose
Lawsuit funding loan companies are very picky about who they lend to. They have to view your case as a slam dunk to win or get a settlement. This is because most of these companies tell you that you are off the hook if something goes sideways and you do not receive a payout. This is a way that lawsuit funding loan companies attract business because it makes it risk-free, and it should give you peace of mind that you'll be OK no matter what happens. Just be sure you present your evidence truthfully to the loan company and make as strong a case as possible about your prospects of winning.
Get Time to Negotiate a Better Settlement
Once you have a loan in your back pocket, this will free up your lawyers to really go for the kill. They won't have to rush to get you money because they know that you are going to be OK for the time being thanks to the loan. This might help you get an even better settlement or payout, making paying off the loan even easier and allowing you to benefit even more from the payout in the end.
Contact a lawsuit funding loan company today for more information.