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: https://www.smpadvance.com.
