When a Lawsuit Loan is the Answer

No one is ever 100 percent prepared for the unexpected. There is absolutely no shame in admitting when you need a little help. When you or your loved one has been incapacitated by an accident, the expenses can quickly add up. Even if you have taken the necessary and prudent steps towards selecting an attorney and filing a lawsuit, mounting financial issues can bring your careful plans crumbling down.

A lawsuit loan can assist plaintiffs with medical and general living expenses, so that they can focus on the real work and planning of achieving a fair settlement. While researching lawsuit loans, or pre- settlement loans, some common misconceptions do arise. Since success is often about asking the right questions, here are a few that plaintiffs should consider and discuss with their family and loan provider:

When is the right time to consider a lawsuit loan?

If you are considering a lawsuit loan, you have more than likely exhausted all your available funds. A lawsuit loan is basically a cash advance on your settlement based on the value of your case. A percentage of the overall settlement can be dispensed to the plaintiff by their loan provider in order to pay pressing bills, medical expenses, and prevent evictions or foreclosure. Pre-settlement loans are most beneficial when they are used towards your most pressing needs.

How is a lawsuit loan different than a paycheck loan?

The confusion between these two occurs in instances of misinformation or misunderstanding. A paycheck loan or a payday loan is a short-term solution that comes with high interest rates and a prerequisite of employment. A lawsuit loan company realizes the situation that their client, the plaintiff, is in where they are faced with a potentially long-term legal negotiation and the possibility that an injury or death has resulted in a less than steady paycheck. Because of this, pre-settlement loans are not time sensitive and do not require credit approval or employment history checks upon application.

The loan company has made a careful investment in the success of the plaintiff’s case, and their loan is a means to see the plaintiff through to a fair settlement.

Plaintiffs should continue to ask questions of their loan provider and work with their attorney to find the best option available. It is with careful consideration that a plaintiff can make the decision to apply for a lawsuit loan and begin to piece back together their financial plan.

About the Author: 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.

Lawsuit Financing Solutions That Can Help You Right Now

When civil litigation is the only option left to redress a wrongdoing, it is paramount that the plaintiffs involved do not enter the fray of a lawsuit with anything less than complete resolve. Resolve to have the act of wrongdoing on the part of the defendant acknowledged and compensation for all damages awarded. This kind of resolve takes time, patience and most of all: money. But for the large majority of plaintiffs, this kind of resolve comes at the high price of their financial stability as the costs of personal injury, medical and living expenses, as well as other financial burdens take their toll. Especially in these financial times, the loss incurred from personal injury or property damage can be devastating to a plaintiff’s ability to realize a clear and thoughtful resolution.

Pre-settlement loans, or lawsuit loans, offer plaintiffs an alternative. Companies that dispense these loans have an invested interest in the plaintiff’s case, and with third party support plaintiffs are given the cash advance necessary to see a case through to a fair settlement. The cash advance serves as a means to sustain the plaintiff through the lengthy process of a legal proceeding and give them the buying time to wait for a bigger settlement.

The process is simple: each case is reviewed independently, and then selected based on strong liability and clear damages. Working in conjunction with you and your attorney, the loan benefactor will draw up an agreement that assigns a fraction of the total settlement to loan repayment.

One of the biggest mistakes a plaintiff can make is pinning their hopes of recovery on the possibility of a large settlement and putting off their daily expenses until they can see the awarded damages. In the case of personal injury or worker compensation, insurance companies have the financial power to delay the legal proceedings – and therefore the total cost – beyond the affordability of the plaintiff. For some, this can spell ruin in the form of home foreclosures and bankruptcy. A pre-settlement loan (lawsuit loan) provides the help that you need when you need it most to relieve the financial burden of embarking on a civil lawsuit and give you an important bargaining tool during settlement negotiations.

When plaintiffs asses their options with eyes wide open, it will become clear that a lawsuit loan provides the relief, comfort and bargaining power they need right now to see their way to a fair settlement.

About the Author: 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.