by: Lauren Lipcon
Lawsuit funding, also known as pre settlement cash advances, are a form of non-recourse funding that has become a popular service in the past few years. Injured clients all over the United States can use this service to get cash for their lawsuit now. Funds advanced can be used by the client for any immediate financial pressures including mortgage payments, credit card bills, to get out of debt, car payments and more.
Obtaining a cash advance on a pending settlement or lawsuit is a quick and simple process. If you have been seriously injured in an accident and are represented by an attorney, just contact a pre settlement funding company like Injury Funds Now (http://www.injuryfundsnow.com) to apply. The funding company will review your case file and contact you with the results of their review. If you accept the offer, a portion of your potential settlement is advanced in return for a percentage of the anticipated recovery. Injury Funds Now (http://www.injuryfundsnow.com) probably has the fastest turn-around time in the industry and will have an answer for you in just 24 hours; they will even wire funds directly into your bank account the very same day.
Lawsuit funding companies offer cash advances solely on the merits of the case. There are no credit checks and the person applying need not be employed. If the case makes a successful recovery, the money advanced plus a previously agreed upon fee are paid out of the case proceeds. If the case loses, there is no fee and the funds do not have to be repaid so this is a 100% risk free service. This also makes the service very risky for the funding company and as such rates and fees vary dramatically between each company, so choose wisely. Many companies charge hidden fees such as closing costs, application fees and more. They offer what appear to be very low rates, but when the hidden fees are added on and the rates are compounded every month, it can get quite high. Injury Funds Now (http://www.injuryfundsnow.com) is does not use compounding or have any hidden fees. They even have a flat rate program by which you will know what amount you will have to pay back upon a successful recovery before even accepting their offer.
Other than taking care of a client’s immediate financial pressures, what are the benefits of lawsuit funding? The strategy of the Defense insurance company is to drag a case out as long as possible in the hopes that the client becomes desperate and will settle for less than the case is worth. A pre settlement advance balances the playing field, by giving the attorney the time he or she needs to obtain the highest possible recovery! So by using a lawsuit funding service, the case can actually make a higher recovery yielding both the client and attorney more funds!