Category Archives: legal funding

How lawsuit loans can help motor vehicle accident victims

Motor vehicle accidents are traumatic to begin with, but some victims find themselves dealing with the situation some time after the accident if there is an injury and negligence involved. If damages are sought out in court, there are certain expenses that take an especial toll on plaintiffs with motor vehicle accident cases.

Medical bills. Even though many plaintiffs receive help with medical bills from health insurance, oftentimes this is not enough to cover all of their medical expenses. But, what happens in the time before the lawsuit is settled? Plaintiffs don’t receive a settlement until the legal process is finished, which could take months or years. If medical bills are past due or payment for a necessary procedure is needed, then the plaintiff may not have the option to wait that long. Many plaintiffs find a solution in a lawsuit loan, which allows them to borrow from their settlement and pay urgent expenses while they wait for the trial to conclude.

Lost wages. On top of medical expenses, victims of motor vehicle accidents often don’t have a source of income due to an injury from the accident that makes them unable to work. They find that they not only struggle with the costly medical expenses but with everyday household expenses as well. Car and mortgage payments, grocery bills, school supplies—these are all expenses that plaintiffs must worry about on top of their injury and the trial, and they can wreak havoc on their credit. Plaintiffs sometimes turn to personal loans or credit cards, but these require payments as well. Lawsuit loans can be used to keep the finances afloat while protecting plaintiffs’ credit.

Car repairs. Much of the trial could be spent determining fault, and if the other driver is debating this issue, then car repairs could get tricky. The plaintiff not only has to work with their insurance but the other drivers’ insurance as well, and if fault is being contested, then the plaintiff may have to wait a while before anyone’s insurance pays for repairs. But plaintiffs need their car, considering they need to make court appointments and meetings with their lawyer on top of everyday travels. Plaintiffs can use a settlement loan to rent a car or make car repairs when the insurance just isn’t helping them get back on the road.

Lawsuit loans allow plaintiffs to use their funding when they need it most, which sometimes end up being before the lawsuit concludes.

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.

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.

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 Lawsuit Loans Can Help Plaintiffs Deal With Stressful Defense Tactics

Lawsuits are hard enough on plaintiffs—they have to deal with the legal process and whatever painful incident spurned the lawsuit in the first place. However, what most plaintiffs don’t prepare themselves for are certain defense tactics that can put a strain on the plaintiff. Lawsuit loans can help deal with tactics and can make proving their case less stressful. So, what are some defense tactics to look out for?

They’ll try to dig up dirt. Depending on the scale of your lawsuit, the defense will most likely look into your personal in order to discredit you. They’ll try to talk to family, friends, and people who maybe aren’t so friendly towards you and don’t mind talking about it. Also, the rise of social media has played a big role in the legal process—all kinds of courtroom battles are bringing in evidence from social media sites such as Facebook and Twitter. The defense can use these sites to discredit you by using things you may have posted and insinuate things about your frame of mind around the time of the incident in question. You should never let this tactic intimidate you from going through with your lawsuit, but be prepared to have your personal life dissected. Lawsuit loans can help deal with this because having your personal life on display like this can be incredibly stressful—and then you have financial stresses to deal with as well. This level of stress can wear on a plaintiff and make them accept a lower offer just to get the ordeal over with. Getting funding from your settlement can help the plaintiff stay financially afloat and therefore more confident to face the defense.

They’ll try to drag the lawsuit out. Defendants are typically companies or individuals who have more money and patience to fight out a lawsuit than the plaintiff. No matter what type of lawsuit, court battles can be financially straining on plaintiffs. Personal injury plaintiffs may have medical bills or wrongful termination plaintiffs may have to deal with lost wages. The defense will take their time arguing things like negligence in the case of a personal injury lawsuit, issues of fault, or other facets that can take some time. Why? Because the longer the lawsuit drags out, the more financial strain the plaintiff faces. Lawsuits can last years. Would you be financially prepared to battle in court for this long? Defendants will count on this strain to force the plaintiff to either accept a low offer or even dismiss the lawsuit. How a lawsuit loan can help is that it allows plaintiffs to use the money from their settlement to help pay these bills. This way, a plaintiff can take the time they need to get a settlement they deserve.

Staying financially healthy is always a smart legal strategy. Every plaintiff should make sure to weigh their financial options before going into a lawsuit, and a lawsuit loan could be the best option.

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.

The Unexpected Effects of a Lawsuit and How a Lawsuit Loan Can Help

It would be wonderful if the stresses of the legal battle stayed in the courtroom, but, unfortunately, plaintiffs in lawsuits often find their entire lives are effected by their lawsuit. Anyone who thinks plaintiffs have nothing to lose have it very wrong—lawsuits take a toll on plaintiffs’ finances, even ones unrelated to the lawsuit, and are emotionally draining. Lawsuit loans, however, can make the process easier. A few unexpected effects of lawsuits on the plaintiff include:

You could lose your job. Lawsuits take time and effort. You will probably have to take off time from work and your work performance may suffer under the stress. How will your employer react to this? Sure, the perfect boss would be understanding, but they also have a company to run. You should check the employment laws in your state, but there aren’t usually the same protective measures in place to protect plaintiffs as there are for employees who miss work for jury duty. Especially with lawsuits that take years, many plaintiffs choose to reduce hours or resign with their future settlement in mind, and lawsuit loans allow them to get cash from their settlement in the meantime.

Your personal loan provider could expect repayment before the lawsuit concludes. At the start of your lawsuit, there is no way you can know how long it will take to reach a settlement and banks aren’t exactly known for their understanding nature. When you deal with a lawsuit loan company, you deal with a company that knows what a plaintiff goes through in the legal process. Lawsuit loans are repaid after the settlement, so you don’t have to worry about the pressure to repay the loan while the lawsuit is still going.

You could lose your home, car, or anything else that you either put up for collateral or can’t make payments on. If you use your house or car as collateral for a loan, what happens if you lose and can’t repay the loan, or, as previously mentioned, the loan company expects repayment before you can afford it? Not only will you lose the settlement but a valuable possession, too. With lawsuit loans, the collateral is the case.

You could accumulate crippling amounts of credit card debt. With the stress of a lawsuit going on, many plaintiffs use credit cards for an easy, short term fix that could hurt them in the long run. Unless credit card debt or a personal loan is paid off when your creditor expects it, your credit will suffer, which is difficult to shake from your financial history and can affect loan applications in the future.

Getting through this legal process is demanding, but lawsuit loans can help plaintiffs power through.

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.

Unemployment Benefits and Your Pending Lawsuit: How A Lawsuit Loan Can Help

Joblessness has become epidemic in America over the course of the recession. Unemployment benefits are the federal safety net for Americans without a job and with inescapable bills to pay. If federal extensions expire, which is anticipated due to opposition in Congress, as many as two million Americans would be facing poverty without government assistance as early as February. For those that turned to unemployment benefits to sustain themselves over the duration of a negligence lawsuit, this could spell ruin.

Oftentimes, the circumstances that lead plaintiffs to engage in a lawsuit are the very circumstances that lead to their unemployment. As it stands, a plaintiff could already be living from unemployment check to unemployment check, waiting for a fair settlement to get them back on track with their payments. For those still seeking medical treatment for injuries that have kept them out of a job for over a year, the expiration of federal assistance could be devastating. This is where a lawsuit loan could become most beneficial.

Unlike a traditional loan that you negotiate with a bank, eligibility factors for a lawsuit loan do not include credit approvals or employment history checks. A lawsuit loan company will judge your application based solely on the merits of your case and whether it shows strong liability and clear damages. The strength of your case will determine the amount of investment that a pre-settlement loan company is willing to put forth so that you can continue to pursue litigation. Individual circumstance also comes into play when determining the interest rates on each case that a lawsuit loan company chooses to fund. Based on the strength of each individual case, your loan benefactor will draw up an agreement that assigns a fraction of your total settlement to loan repayment. With the right company, the process can be simple and quick.

With a lawsuit loan, you can get a cash advance immediately to pay down necessary expenses such as medical bills, mortgage payments or rent, electricity bills, and education expenses. Some of these payments might have even lapsed as you tried to live off an unemployment check. If a plaintiff’s financial stability is threatened by the expiration of their extended unemployment benefits, they may be compelled to accept a low-ball offer for a settlement. Instead of accepting a settlement that is less than your case is worth, you should consider whether a lawsuit loan offers a potential bargaining chip and the key to financial relief from mounting debt.

The benefits of a lawsuit loan are multi-fold and can help you not only fund your case, but provide you with the relief you need to begin taking steps to reassemble your life.

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.

Top Three Reasons Why To Consider A Lawsuit Loan

Lawsuit loans are a simple way in which to get the finances you need when you are struggling with a claim. Claim types vary, and people are harmed every day. Most individuals often do not follow through with a claim, because they do not have the supporting finances to proceed with a case. Why not proceed with the case, using a lawsuit cash advance?

There are many reasons as to why one should consider a lawsuit loan when in need of moving forward with a lawsuit claim. Here are the top three reasons:

You Have Nothing To Lose: Lawsuit loans or legal funding are not returned until the settlement proceeds. This means, that you do not have to pay the amount back monthly, or annually. Legal funding is not just another bill to add to your stack of monthly payables, it’s the cash an individual or family needs to obtain legal representation, go to court, and attempt to receive justice for your case.

As lawsuit funding only needs to be returned after the settlement proceeds, the funding team takes the amount due, plus a fee for the loan right out of your settlement. So this means, not having to come up with a lump sum of cash on the spot.

It Gives You Or Your Family Financial Comfort: When you or a family member is in an accident that harms, or is even fatal, the medical bills can be outrageous. This is considering that the individual has health insurance. Medical bills skyrocket even beyond outrageous if health insurance is not in order. Also, there are instances in which health insurance will not cover your particular injury, but you do wish to proceed with filing a claim.

Lawsuit funding gives a family or individual a chance to fight for their due justice. Time off of work, not being able to afford daycare, or even not having the ability to purchase groceries, are all reasons in which many people are turning to lawsuit funding.

Time: Even as a person heals emotionally, physically or mentally from a tragic incident, the court system and its trials/paperwork can be a lengthy process. There are many situations that may be much like yours, waiting and pending, for settlement and decisions to be made.

Lawsuit funding gives you the opportunity to wait for that settlement, and still have finances available. In using the legal funding for the case and bills that may need to be paid up until the settlement proceeds, you can patiently wait for the process to move at its pace.

Legal funding has become more and more popular over the years, as it gives a person or family: time, financial comfort and truly, you have nothing to lose. Funding can be approved in as little as twenty-four to forty-eight hours. It never hurts to call a legal funding professional to ask if lawsuit funding is the right path for you and your family.

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.