Three Things Every Plaintiff Should Do While Fighting Their Case

Fighting lawsuits can be overwhelming for plaintiffs. While in the middle of their case, it can be difficult to make financial decisions with a clear head. To lessen the stress, many plaintiffs use lawsuit loans, which allow them to use money from their settlement prior to resolution. While waiting for a case to resolve, there are certain financial priorities a plaintiff should have, and lawsuit loans can help plaintiffs focus on them.

Have a secure source of income. The “wait and see” game should not be played in this situation. While waiting for the case to resolve so that you can claim your settlement, make sure that you will have a way to pay bills in the meantime, because life doesn’t wait. This is often overlooked because plaintiffs can sometimes misjudge how much time it’s going to take. How long can you go without the settlement, if you’re not employed? Three months? A year? What happens if a settlement is never reached? Creditors won’t have the patience to wait for your case to resolve; they’ll want payment as soon as possible, and you don’t want to have to deal with them while you’re in the middle of your case. You need to be prepared for the long haul. A lawsuit loan is one option for plaintiffs in this situation.

Stay out of the red. Not only is it important to know that you will have a source of income, but plaintiffs really need to focus on staying on top of bill payments as well. It is actually a smart legal strategy as well as a stress reducer. If a plaintiff is injured and is dealing with a court case, or even just a court case, then their other duties usually take a backseat. Don’t get stuck in the legal world! Stay on top of household payments, medical bills, credit card bills, and any other bills you have, because if you get too deep in debt, you may be forced into accepting a lower settlement because you can’t afford to keep the legal battle going without settling your debt. Staying in a good financial position can also mean that you’ll have a clear head for your case. This is another reason why some plaintiffs choose lawsuit loans.

If you’re still employed, make sure to work with your employer concerning the time you’ll have to spend on your case, especially if the legal process is taking a long time. Many plaintiffs underestimate the time that they will have to dedicate to their case. They could be drowning in legal documents. They will have to spend time preparing for court. They will have to spend a lot of time with their lawyer. Make sure your employer is understanding of your situation and that you might have to take days off for court dates. To deal with the loss of income from working less hours, plaintiffs can again turn to lawsuit loans to stay afloat.

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.

Questions Plaintiffs Should Ask About Lawsuit Funding

Finding the right lender or type of lender for lawsuit funding is sort of like shopping—loan companies are all different in the products and services they have to offer. What you may not realize is that there are companies specifically for people who are going through a lawsuit. You don’t have to go to your bank for a loan if you are experiencing financial hardships during the course of a lawsuit or claim. There are a few basic questions plaintiffs should know the answer to before making any decisions.

When is the loan repayment expected?

This is an important question to ask, especially if you’re using a traditional loan. If a claimant takes out a traditional loan, then repayment might be expected before the trial reaches a settlement. There’s no way to know when you’ll be able to pay, but banks will expect payment on a certain date. This is a good question to ask before you take out any kind of loan, even if the answer looks like it should be obvious. An example is a paycheck advance: you know that you have to repay it when you get your next paycheck, but what about the fees? Will you be able to give up your next paycheck and then pay additional money for the fees? One of the great conveniences of lawsuit loans is that payment is expected after a settlement has been reached, which means that you know you’ll have the money when you need it during the course of a lawsuit or claim. Payment is expected whether or not you are awarded a settlement.

What exactly will the interest and other fees be?

Along with knowing when your payments are to be made, you should also know what your payments are. It seems obvious, but you would be surprised how many plaintiffs find themselves in hot water because they signed papers without being completely clear on what they will be paying. “Hidden fees” are a concern with consumers when it comes to cell phone carriers, gym memberships, and other services, and plaintiffs should be concerned when it comes to settlement funding as well. Make sure your payments are explained to you before you reach an agreement. Fees and the total loan amount are judged on a case by case basis, so it’s difficult to say what kind of fees you should expect, but the most important part is that you understand what you’re paying.

What can the money be used for?

The answer for most companies would be that you can use the money however you want, but, depending on the company, there could be restrictions, so it’s a good question to ask before you reach an agreement. The company may face legal restrictions that you’re not aware of. Make sure you’ll be able to use the money for medical expenses, household bills, and other necessary ways to sustain your standard of living. If you’re utilizing lawsuit funding, you should be able to use your money for all of those things.

What’s required from me after the papers are signed?

The answer to this question will typically be: not much. But you should ask this question because loan companies have a vested interest in your case, so you should be prepared for update requests. Most reasonable requests include periodical calls to your attorney to find out the status of your case.

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.

Privacy Standards Plaintiffs Should Look for in a Lawsuit Loan

Privacy is becoming a more important and a more visual issue with the rise of social media. The legal process is no stranger to privacy invasion, where plaintiffs often find that every facet of their lives could be put underneath a magnifying glass, but there is one aspect that could offer plaintiffs relief—legal funding. A reliable lawsuit company will have the ability to put plaintiffs at ease when it comes to their privacy.

You shouldn’t have to write your autobiography just to apply. Look for a simple application. The kind of information you can expect to release will include basic personal information such as addresses and phone numbers, including those of your attorney, along with some information concerning you case. This could include a brief summary of the events of the incident that incited the lawsuit and some basic information about the defendant. The financial portion of a lawsuit loan application should be the most different from traditional loans. Rather than having to write up your life’s financial history, you could have to mention any benefits you might be receiving, such as Social Security or Medicare, whether you’ve taken out other loans, and how much money you’ll be seeking. Plaintiffs often choose lawsuit loans because the process is tailored to their unique financial situation and the application process mostly just concerns itself with the details of the case, so if you are buried in complicated paperwork and find yourself scrambling to find out what your great-aunt’s maiden name was just to fill out a legal form, you should probably rethink the company that you’re using.

You shouldn’t have to worry about the loan company delving too far into your personal life. Depending on the lender, applying for personal loans sometimes requires personal or professional references, and then you could find yourself writing your friend or coworker’s autobiography alongside your own. For the trial, you might even find that your personal social media accounts have been utilized for the defense or that your colleagues have gotten calls asking about your character. Throughout the legal process, the invasion of privacy can feel suffocating. Choose a legal funding provider that isn’t concerned about every facet of your personal life so that you don’t have to worry about privacy invasion when it comes to your settlement loan

Your financial history shouldn’t be an overwhelming factor in the application process. Lawsuit loans function differently than personal loans. Settlement advances allow plaintiffs to utilize a portion of their settlement before the trial is finished and then repayment is expected once the plaintiff has received the settlement. As we’ve said before, one of the great aspects of lawsuit loans is that the process mostly just concerns itself with the details of your case. That’s how a plaintiff’s eligibility is evaluated. If a lawsuit loan provider is performing credit checks or is considering something like employment when deciding eligibility, then you should ask some questions and reevaluate your options.

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.

Financial Roadblocks That Lawsuit Loans Help Plaintiffs Avoid

A lot of things could go wrong during a lawsuit for the plaintiff, but one of the easiest to avoid is problems with their finances. Lawsuit loans can help plaintiffs avoid a number of financial roadblocks, including:

Foreclosure and Evictions. Many plaintiffs suffer from lost wages due to wrongful termination, injury, or other reasons pertaining to their lawsuit. But before a settlement is reached, these plaintiffs are still expected to pay everyday expenses like rent. If the plaintiff isn’t receiving a regular income, this can become a struggle. Things like insurance can sometimes help, but even that isn’t always enough, meaning some plaintiffs could experience foreclosure or eviction before receiving their settlement. This often forces plaintiffs to accept lower offers rather than taking the time to keep the legal battle going. Lawsuit loans can help plaintiffs make these payments and avoid drastic measures like eviction or foreclosure.

Losing collateral. With other forms of borrowing, plaintiffs must offer some sort of collateral, such as a house or a car, in order to get the loan. But if you get behind on payments, then you could end up losing your collateral. This would lead to even more financial strain, as many people depend on their car to make it to work, and the pain of losing a house doesn’t need to be explained. When you take out a lawsuit loan, the case is the collateral.

Mounting interest rates and inconvenient payment schedules. The problem with personal loans and credit cards is that you can’t be sure how long your lawsuit will last. The longer the lawsuit lasts, the longer you’ll have to wait to pay the loan, which means that the interest is just adding up. Even worse, banks or other lending institutions might require a payment before the lawsuit concludes and a settlement is received. Would you be able to make a payment without your settlement? With lawsuit loans, you’ll know beforehand exactly what fees you’ll be paying, and payment is required at the time of the settlement.

Credit and Employment Checks. Banks and other lending institutions will go through your financial history when considering your loan application. If you have bad credit and/or aren’t currently employed, it can get difficult to get banks to lend to you for manageable interest rates. Applicants for presettlement funding are judged base on the strength of their case, not their financial history. This means no embarrassing credit checks.

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.

How a Lawsuit Loan Can Help Get Plaintiffs the Settlement They Deserve

Filing a successful lawsuit can be a long, difficult process. Even the most worthy plaintiffs with solid cases sometimes end up with low, unfair settlements. So, what can go wrong, and how can lawsuit loans help?

Have your financial ducks in a row before the lawsuit begins. You’d be surprised how many plaintiffs don’t consider how they’re going to make ends meet during the lawsuit. Many like to only focus on the future settlement, but the hard truth is that it’s there’s a long legal road in front of them where they’re going to have to support themselves in the meantime. Depending on the circumstances of the lawsuit, plaintiffs might have medical bills, car repairs, lost wages, and other related expenses on top of their every day expenses. For example, if your lawsuit is related to damaged property, you may have to pay for repairs yourself before you reach a settlement. Not only is all of this frustrating, but these mounting expenses might force plaintiffs into accepting a low offer that is much less than what they were counting on. Lawsuit loans can help because it allows you to borrow from your settlement to help pay these bills right away. These types of loans are also convenient because repayment is expected at the time of settlement, so you won’t have to worry about having to make payments before a decision has been reached for your case.

Understand that the defense won’t make this easy for anyone. The other side knows the point made above all too well. Oftentimes plaintiffs are fighting against companies that have not only fought lawsuits before, but they have the resources to drag the lawsuit out as long as possible. So, not only will a plaintiff experience the financial strain we’ve discussed, but the defense will usually try to draw out the lawsuit so that these financial strains get even worse. They’ll hope that the plaintiff will have no choice but to accept their low offer. Using a lawsuit loan can be a smart strategy that removes the defense’s financial upper hand.

Be prepared for effects of the lawsuit that you may not have expected. You might have to take time off of work for court dates or spend time with your attorney preparing for court. Be ready to invest a lot of time and effort into preparing for your lawsuit. Many plaintiffs allow legal frustration alone to intimidate them into dropping their lawsuit or accepting low offers. Lawsuit funding can help because when you don’t have to worry about finances, taking on the lawsuit can be much less stressful.

Following these tips and using a lawsuit loan to remove financial strain can help you get the settlement you deserve.

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.