This is one of main questions that Lawsuit Loan applicants ask when calling a Lawsuit Loan company. The amount of information needed by the Lawsuit Loan company usually varies on the type of case or claim filed.
In general, the information that an applicant has to provide is limited to his personal information, contact information and some basic details with regard to the case (such as an accident description, injuries and treatment obtained to date). The attorney’s contact information will also have to be provided (a Lawsuit Loan company will not provide a loan if the applicant is not represented by legal counsel). The client will usually have to answer some questions regarding liens and what expenses the Lawsuit Loan will be used to fund. Lawsuit Loans do not require income or credit verification.
The information that will be requested from the applicant’s attorney may be significantly more specific. In addition to completing a general case-type-specific information form, the attorney will be asked to provide further evidence of the strength of the lawsuit. These may include the filed Complaint, some medical records, settlement offer records, workers’ compensation filing documents and a police/accident report. The attorney will also have to provide information regarding any liens that are or may be attached to the case/claim.
The more information that the Lawsuit Loan company has to work with in determining whether an applicant will be approved for a Lawsuit Loan, the better the chances of being approved. Prior to calling the Lawsuit Loan company, the applicant should have most of his case information on hand and be prepared to answer basic questions regarding the case/claim.
Steven Medvin is the Executive Director of SMP Advance Funding, LLC, which provides lawsuit funding to individuals who need a lawsuit loan for pending lawsuits. For more information please visit: http://www.smpadvance.com.