Legal funding loans have become a hot topic in recent years. While navigating a lawsuit can be costly, having the cash upfront can make pursuing a personal injury settlement easier. Your attorney can work to obtain a higher amount of compensation for your losses.
But what’s often referred to as a loan isn’t a loan at all. It’s instead a cash advance on your future settlement, which can be months, a year, or two years away when you need financial support now. Is this a good idea? It’s up to you and your attorney to decide; here we’ll look at when lawsuit loan legal funding can be beneficial.
You Have High Medical Bills
A single visit to the emergency department can set you back thousands of dollars. Add in the costs of specialists, diagnostic tests, or surgery and the total can well exceed your budget. Personal injury cases, especially car accidents, often involve long-term expenses too. These can include medication, physical therapy, and home modifications during recovery or if you suffer a permanent disability.
Legal funding can help pay for these costs while your settlement is pending.
You Are Out of Work
If you’re unable to work and aren’t earning wages, it can be hard enough to put food on the table let alone hire an attorney. An injury can result in temporary unemployment. Severe injuries can leave you permanently unable to do the same work. Your compensation can then include lost future earnings, but it can take longer to settle a case of higher value.
That’s why you need a legal funding loan now. Even if you continue working at a reduced capacity, you’re going to need cash to make up the difference in wages. Your employment may not only be affected by a slip and fall or construction accident. A lawsuit cash advance may be considered in wrongful termination, sexual harassment, and discrimination cases as well.
There Are Pressing Financial Matters
When you’re injured, out of work, and receiving medical care, that doesn’t stop the bills from coming in. Rent is due and mortgage payments must be made. Car payments, utility bills, and family obligations must be taken care of somehow. You may have kids who need back-to-school supplies or there’s college tuition to pay. All the while, you have a pending lawsuit. It’s a strenuous if not impossible situation without an immediate source of cash.
All Other Options Have Been Considered
As a plaintiff, you can consider options such as credit cards, new lines of credit, bank loans, or savings accounts. Family members and friends may be able to help out as well, so it doesn’t hurt to ask. It may also be possible to borrow against your 401K.
When none of these options are available, this is when to consider a loan for legal funding. Legal financing companies can provide a non-recourse advance out of your future settlement, saving a great deal of stress. If you don’t win the case, you don’t pay the company back.
You Need to Support Your Legal Practice
Working on a contingency fee basis has its benefits. But any attorney knows there are many costs involved in the litigation process. Discovery, hiring expert witnesses, administrative overhead, and other business expenses must be covered. Working with a legal financing company can maintain the flow of capital while cases are pending. It also helps retain clients and work towards the settlements they deserve.
Apply for a Legal Funding Loan with Fund Capital America
When you’re seeking a lawsuit loan, legal funding is the easiest, most convenient option. Fund Capital America lets you borrow money from a pending lawsuit via a simple process. To receive a non-recourse cash advance, submit our online application and speak to our staff. We’ll consult with your attorney and usually make an offer within 24 hours. If your case doesn’t win or settles for less than you owe, we won’t ask for anything out of pocket. Apply now or call 855-870-2274 to get started.
