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.