Without preparation, a worthy lawsuit that could garner thousands for a deserving plaintiff could peter out when the plaintiff can no longer afford to pursue their claim. To use an analogy: if you were planning on taking a road trip across the country, one of the first considerations you would have would be how much gas you would need and how much it would cost. If your car needed repairs to make the trek, you would plan to have those made before you took off. These are all simple measures that we take to plan ahead, so that we don’t end up stranded on the side of the road, unable to ever reach our end destination.
Same logic should apply to your lawsuit. A lawsuit, even a worthy one with strong liability and clear damages, can and will take a toll on the plaintiff. Insurance companies will not only use their financial power to delay your settlement, but they will also try to break your resolve and catch you off your guard. Anything you say, even offhand or online, can be used against you in your case. Emotionally, mentally and financially, plaintiffs are brought to the brink so that they will settle early for less. Winning a fair settlement is like a cross-country road trip: a plaintiff needs to prepare themselves mentally and financially. By acquiring a pre-settlement loan, a plaintiff is taking the necessary measures to ensure that they can and will fight until they receive the best settlement amount possible. There could be delays, negotiations, and appeals that are par for the course with a lawsuit. For most plaintiffs, their finances are strained by the added pressure of lost wages or injuries. A lawsuit loan provides immediate financial relief and a way to solve short-term problems, while looking towards your long-term goals.
A pre-settlement loan, often referred to as a lawsuit loan, is unlike a traditional loan where an applicant would put up their house or other assets up as collateral. In the case of a pre-settlement loan, the lawsuit settlement itself serves as the collateral for the creditor. A lawsuit loan company will be looking to invest in you and your case, hoping that, with additional support, a plaintiff and their legal team can negotiate from the best possible vantage point. Ultimately, it comes down to planning. For plaintiffs who plan to pursue the best possible outcome, a lawsuit loan is a simple solution.
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 www.smpadvance.com.