|
PRE-SETTLEMENT
FUNDING
FREQUENTLY
ASKED QUESTIONS
Pre-Settlement Funding, also known as a
Litigation Advance or Lawsuit Funding, is new and
we know you have a lot of questions. We'll do our
best to answer them here. However, if we miss
something, please don't hesitate to contact us for
the information you need to make an informed choice
about your pending litigation. Remember, we are
here to help you.
- Q: What Is Pre-Settlement
Funding?
- A:
Pre-Settlement
Funding is a way to get cash quickly from your
pending lawsuit. This money can be a bridge to
cover financial needs until your case is
settled. In some cases, it can provide money to
cover expenses necessary to develop the case and
see it through to completion. For others, it can
mean cash for living expenses during litigation.
There are many situations where a lawsuit
advance can be extremely
advantageous.
Click Here to see
some examples of when Litigation Funding can be
of help to you.
- Q: How can someone
"Invest" in a lawsuit?
- A:
The term
'Investing' when applied to a lawsuit advance
means to purchase a piece of the future
settlement proceeds. That means you can receive
cash today in exchange for a specified amount of
the settlement later that is derived from the
litigation. If the case is lost, you owe
nothing. Any advance you received is your to
keep. This is what is known as a non-recourse
advance.
- Q: Is There An
Application Fee?
- A:
Absolutely
not. There is never any charge to review your
case and determine what amount could be advanced
to you. Likewise, you are under no obligation
until you accept the offer.
- Q: What Role Will The
Investor Have In My Lawsuit?
- A:
The investor
will have no role whatsoever in the management
of your case. You and your legal team will
continue to handle the case, without
interference from the investor.
- Q: Will You Provide Legal
Advice To Me?
- A:
Again,
absolutely not. Providing legal advice is the
role of your attorney or legal
team.
- Q: What Will You Expect
From My Attorney?
- A:
Your attorney will need
to cooperate with the investor for the purposes
of evaluating the case and making the advance.
They will need to provide documents when
requested. They will also need to communicate
with the investor on a regular basis to track
the progress of the case.
- Q: What Happens If I Lose
My Case?
- A:
The advance
is 100% at our risk. It is what is known as a
'non-recourse' advance. If you lose your case,
you owe nothing.
- Q: How Long Does This
Take?
- A:
We realize
that time is of the essence. Once we have
received all of your information, a decision
will be made within 2 business
days.
- Q: How Much Does This
Cost?
- A:
No two cases are alike.
Therefore each lawsuit is evaluated on a
case-by-case basis. The rates vary depending on
the specifics of each case. When a proposal is
made, all details of the advance and repayment
will be thoroughly explained to both you and
your attorney prior to any signing or acceptance
of the agreement.
- Q: Are There Monthly Fees
Or Any Other Fees Involved?
- A:
No. There
will be a specific repayment amount which is
fully disclosed to you. This is due and payable
ONLY after your case is won.
- Q: Why Is This Not A
Loan?
- A:
A "loan" is
an agreement to repay, no matter what the
outcome. However, this is a "non-recourse"
advance. In effect, the investor is purchasing
an interest in the lawsuit, which is 100%
contingent upon the final outcome of the case.
If the case is lost, there is no
repayment.
- Q: Can't My Attorney Just
Loan Me The Money?
- A:
No. This
would cause a conflict of interest because your
attorney would now be your creditor. In fact,
the American Bar Association expressly prohibits
attorneys from loaning money to their clients
for anything other then case-related
expenses.
- Q: What If My Case Is On
Appeal?
- A:
It may still
be possible to advance money on an appellate
case. Again, we will need to review the merits
of the case to determine if litigation funding
is appropriate.
APPROVAL CAN
BE FAST AND EASY!
We know that in cases like this, time is of the
essence. To make things easiest for you, we've set
up a quick reference page to show you just what you
need. Once we have these things, and made contact
with your attorney, you'll get a decision within 2
business days.
Click here for a
list of what you'll need.
OKAY, I'M
READY. HOW DO I GET STARTED?
Simply drop us a line and tell us about your
case, by clicking here.
OR give us a call at 1-888-5FUNDME. We'll ask
you some quick questions, and also gather some
documents from you. Then we'll get to work to get
you the cash you need.
|
