Tag Archives: lawsuit loans

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.

Your Pre-Trial Financial Checklist

One of the most overlooked aspects of of their lawsuit by plaintiffs is their financial health during the trial. This is easy to overlook because most plaintiffs focus on their settlement rather than considering how they will support themselves in the meantime. Pre-trial, there are certain things every plaintiff should consider so that they don’t find themselves in a tough spot. After asking themselves similar questions, many plaintiffs consider taking out a lawsuit loan in order to get an advance on their settlement.

—How will you handle dealing with lost wages? This is the kind of question that workplace injury and wrongful termination plaintiffs along with plaintiffs who are taking time off of work to focus on the lawsuit must ask themselves. If you are suing for wrongful termination, will you be able to find another job with the pending lawsuit? In the meantime, you might have medical bills or other expenses related to your lawsuit. Plaintiffs must keep in mind that their regular expenses will keep coming as well, like electricity and utility bills, mortgage and car payments, gas, family expenses and more.

—Will insurance be enough? For injured, unemployed, or other plaintiffs that receive the help of insurance, sometimes this is enough to make ends meet. However, even sizable insurance checks don’t always cut it for some financial situations. Some plaintiffs even find themselves in a lawsuit with their insurance company. If you count on insurance alone, you may find financial gaps to fill.

—How long will reaching a settlement take? This is a trick question, but an important one. You can’t really know how long a lawsuit will last. How will it effect your finances if you have to wait six months for your settlement? A year? It could take even longer. Sometimes plaintiffs are forced to accept a lower than expected offer because they can’t afford to keep up the legal battle.

—Will you be prepared in case of an emergency? Even if you are confident in your financial plan, unforeseen circumstances can set things off of balance. Many plaintiffs use their savings to help finance their lawsuit, but then what happens if they need car repairs or their spouse unexpectedly gets laid off? You should always be financially prepared for an emergency, but in the middle of a lawsuit, this task can prove even more difficult.

All of these questions can become overwhelming, but they’re necessary to consider. There is one option that can be the answer to all of them: a lawsuit loan. Lawsuit loans can be used to pay bills, fill in the gaps that insurance leaves, assist in a financial emergency, or other expenses that plaintiffs might struggle with.

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.

Signs of a Reliable Lawsuit Loan Company

There are lots of lawsuit loan companies to choose from, but there are certain signs of a reliable company to look out for. Being involved in a lawsuit or claim can be very stressful and a reputable lawsuit loan company can help ease some of your financial troubles. Here are some some signs you can look for when applying for a loan.

An easy application. A simple application means you are dealing with a company that understands how difficult the legal process is. Sure, some good companies will have complex applications, but what does that say about their customer relations? If the application is easy, it shows that the company understands that plaintiffs are already loaded with tons of paperwork and other hoops to jump through, which is a sign of a lot of experience in the business and good customer service. An experienced business will only make the application as difficult as it needs to be. You can apply for your loan using our online form found directly on our website.

Fast approval and funding. If you’re applying for a lawsuit loan, that means you probably have pressing financial matters that need to be taken care of soon, like medical bills, mortgages, and other expenses that just can’t wait. Personal loans can take time, and one advantage of lawsuit loans is that they are a faster process for getting cash. If a lawsuit loan company takes more than 48 hours to send you your funding, then this is a red flag. SMP Advance Funding sends plaintiffs their funding between 24-48 hours after approval.

A company that bases its approval decision on your case. This is an industry standard for lawsuit loans. While personal loans may look at employment and other financial history, lawsuit loan companies look solely at your lawsuit for approval. If a company is basing the loan on other factors such as employment history or credit, this is another red flag.

A company whose fees vary case by case. You might be thinking that a company that offers a low fixed rate sounds better, but the decision to vary fees is actually a mark of smart business. When ever case is different, as well as every settlement, does it sound logical to charge the same fee for every case? No, and you wouldn’t want to do business with a company that does otherwise.

A company that thoroughly explains your payment and then your repayment, too. Sadly, many companies try to take advantage of stressed plaintiffs through their fine print. You need a company that doesn’t skim over what they require of you before you sign. Plaintiffs have already experienced some sort of negligence, so the last thing they need is a company that is supposed to be on their side taking advantage of them. Make sure you know what exactly your fees are and when you’ll be expected to pay them.

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.

What Every Plaintiff Should Consider Pre-Trial

For every plaintiff, there are crucial steps they need to take in order to prepare for their lawsuit. There are several crucial steps to consider that are often overlooked:

—Trials can take a long, long time. Most of them span for years. Don’t let this intimidate you from holding someone accountable for their negligence, but it’s important to be mentally prepared.

—Get a lawyer with experience in your type of lawsuit. If you’re a car accident victim in a personal injury case, find a lawyer who specializes this.

—The defense will get involved in your personal business. Be prepared to have any public records or online activity combed through.

One of the most important aspects, however, will probably come as a surprise: your finances. Your financial health plays an important role in your lawsuit, but it is usually not given much thought by plaintiffs at the beginning of the lawsuit because they haven’t yet discovered the true labors of a trial. There are a several aspects of a plaintiff’s financial situation that must be taken into account.

If your lawsuit has to do with personal injury or another situation that keeps you from work, how do you plan on making ends meet until then? As previously stated, lawsuits take a long time. Lawsuit loan, which allow plaintiffs to use money from their lawsuit before settlement, can help fill in the gap.

If you currently have a job, how will it be affected by the lawsuit? Your lawsuit will require a lot of time and effort from you. If you get paid by the hour, how will you be affected by the lost wages that your trial time cuts into? If you have a salary position, will you have enough vacation time or will you have to buy more vacation days? What happens if your work performance begins to suffer? These are all things you need to talk over with your employer. Many plaintiffs only work part time or don’t work at all during the lawsuit with the expectation of receiving a settlement eventually. If your work situation raises these concerns, a lawsuit loan may be the best option to help cover expenses.

Personal loans aren’t always the best option. Banks may deny your application based on financial history or employment status. They also may require payment before the lawsuit concludes, and you can’t know ahead of time when exactly you’ll be getting a settlement. Can you be sure that you can repay a personal loan and any interest when the bank expects it? Lawsuits are emotionally exhausting, and struggling with a personal loan can only make things more stressful. Lawsuit loan companies expect payment after you receive your settlement, and they base loan candidates’ eligibility on the strength of their 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.

How Lawsuit Loans Give Plaintiffs a Legal Edge

From the outside, being a plaintiff in a lawsuit may look like a piece of cake. You file the lawsuit, make your case, and then hopefully receive your settlement. However, the process is a bit more complicated than that. It can take months, sometimes years to reach a settlement, and many plaintiffs struggle during the process. Lawsuit loans give plaintiffs the opportunity to see cash from the settlement before the lawsuit concludes, but this type of funding can give the plaintiff an edge in the lawsuit as well.

First, let’s consider the lawsuit process. There are many stages a lawsuit has to go through in the court system. After having en experience that you feel requires legal action and finding an attorney, paperwork must be filed, and then the defendant and his or her legal team provide a response. The lawsuit then moves into the discovery process, meaning that evidence is provided and depositions begin. This phase can last as long as it requires—some lawsuits spend more than a year in the discovery phase alone! The rest of the process is what the public is the most familiar with: trial, judgement, and sometimes an appeal, in which case the process begins all over again. Not only are these phases time consuming, but there are usually periods of time between them.

The point is, lawsuits take a long time, and defendants sometimes try to draw them out as long as possible. Why? Because defendants are usually large companies like hospitals, insurance companies, or restaurants. These defendants have the time and money to fight a lawsuit to the bitter end, but plaintiffs usually don’t—and defendants know this! The longer the lawsuit drags on, the more financial strain the plaintiff will be put under from medical bills, lost wages, and other financial issues related to the lawsuit as well as everyday expenses. Many plaintiffs just can’t afford to fight as long as defendants can.

What happens when a plaintiff runs out of funding? The defendant will usually offer a low settlement offer early on, and depending on the amount of strain the plaintiff is under, he or she may have no choice but to accept. This means that the plaintiff may not get the settlement he or she deserves. This is not only a shame for the plaintiff, but also because the company or individual they were fighting against will not be held accountable for their negligence.

This is where lawsuit loans come to the rescue. Plaintiffs can think of a lawsuit loan as an investment. A lawsuit loan allows them to pay the bills while they see the lawsuit to the very end, and then a fair settlement can be reached. This takes away the defendant’s advantage and gives the plaintiff a legal edge.

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 Four Common Costs That Plaintiffs Struggle With

Plaintiffs usually struggle with massive costs related to their lawsuit, and then a settlement can take months or even years to reach. Lawsuit loans can help plaintiffs pay any expenses they experience during the lawsuit, but the most common include:

1. Medical bills. Many plaintiffs’ lawsuits deal with medical malpractice or personal injury. These victims could have had a surgery gone wrong or another type of medical problem that requires a lengthy and costly recovery. Or, personal injury victims can have medical bills that can’t wait for the lawsuit to conclude. Plaintiffs shouldn’t have to put off medical treatment just because they can’t afford it until they receive their settlement. In these situations, plaintiffs often put these massive bills on credit cards that acquire a large amount of interest. Until they receive their settlement, plaintiffs must manage these expenses themselves, but taking out a lawsuit loan means these bills get taken care of sooner.

2. Lost wages. If the plaintiff experienced an injury that made them unable to work or is pursuing a lawsuit because they were wrongfully terminated, they have to wait until they recover or receive the settlement to obtain income again. Even if the lawsuit isn’t related to employment, the lawsuit will take time, and time spent away from work means less money earned.

3. Everyday expenses. You’d think this would be a given, but it makes the list because daily expenses don’t just stop and wait for a lawsuit to conclude. While the plaintiff may be out of work, he or she must still pay their mortgage, car bills, groceries and other everyday bills on top of previously mentioned expenses. The pressure to provide for a home can put a plaintiff under a great amount of stress.

4. Personal loans. Many plaintiffs take out personal loans but must begin to make payments before the lawsuit concludes. Plaintiffs take out personal loans for the other expenses we’ve discussed, but sometimes, that money runs out before plaintiffs get their settlement. Banks don’t take into account the nature of the plaintiffs lawsuit—they will want the loan to be repaid regardless of how long the lawsuit is taking. Lawsuit loans are repaid when the settlement has concluded, so a plaintiff can apply for a lawsuit loan to help repay personal loans, everyday expenses, lost wages, legal fees, medical bills and other costs in the meantime.

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.

Lawsuit Loans For Common Types of Personal Injury Claims

On top of the pain of an injury, victims usually have to deal with hefty medical bills and other expenses. If someone else was at fault for their injury, they may be able to sue them for damages. If the bills can’t wait for a lawsuit, a lawsuit loan could provide relief as well. So, what are the most common types of personal injury cases?

Car accident

If you are injured in a car accident that was someone else’s fault, you could file a personal injury claim on the other driver, especially if the other driver was under the influence of drugs or alcohol, driving recklessly, talking on their cellphone, or driving in an otherwise unsafe manner. Complications from these types of lawsuits usually revolve around establishing fault. If you are in an accident, it is already a good idea to take lots of pictures and document everything you remember regarding the accident, after as you establishing everyone is okay, for insurance or criminal purposes; however, although not every car accident will result in a lawsuit, taking pictures before the other driver can move or change anything can make establishing fault easier.

Medical and dental malpractice

This kind of lawsuit is pursued against doctors, dentists, hospitals and other medical health professionals or institutions that were negligent in providing medical care. The complex part of these lawsuits is proving the negligence—legally, there is a difference between making a mistake that another competent doctor, in a similar situation, would have made, and a mistake that breaches the professional standard. The latter is considered negligence.

Workplace injury

Employers are obligated to provide a safe work environment for their employees. These kinds of injuries usually occur in workplace environments that require physical labor—a construction accident, an asbestos-insulated warehouse, a machinery malfunction resulting from poor maintenance—but sometimes occur in office environments, too. Accidents resulting from poorly stacked boxes, improperly stored file cabinets, or even a carpal tunnel injury can happen in the office.

Slip and Fall

These are injuries occurred because of an unsafe environment at a place of business or even a private home. The maintainer of the property could be sued for negligence if someone slips and acquires an injury.

Individual negligence

If you are injured outside of the workplace in a private environment because of another person’s failure, you may be able to file a civil suit against them. Dog bites are a common cause of personal injury in this category if the owner was negligent in their care of the dog. This kind of injury can be intentional or not; assaults are also a common injury and can result in civil action as well as criminal charges.

Product liability

Manufacturers are legally required to produce safe products, and if these products fail safety standards, they aren’t supposed to make it to marketplace. But sometimes, companies don’t uphold inspection or manufacturing standards, and an injury can happen as a result of a defective product.

Personal injury lawsuits can take time and money for plaintiffs to make their case and often the injury means the plaintiff is unable to work. If you have suffered a personal injury and need cash from your lawsuit now, consider a lawsuit loan to ease the financial burden.

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.

Lawsuit Loans can Provide Relief While Patients Prove Negligence

Healthcare professionals take an oath before being sent out into the workforce to do no harm. However, these professionals are human, and mistakes are going to be made. But sometimes, doctors and other healthcare providers make mistakes that can be classified as negligent. If you have suffered because of medical malpractice, a lawsuit loan could help your finances during your malpractice lawsuit.

The results of this negligence varies; medical malpractice cases are often pursued because of botched surgery, anesthesia, misdiagnosis, or other complications. It is not only doctors that can be sued, but also nurses, hospitals, nursing homes, chiropractors, pharmaceutical companies, and even dentists. Malpractice often gets flack in the media for frivolousness, but the truth is, there are many justified malpractice cases, and the practice is important because it keeps doctors accountable for negligence.

A plaintiff in a medical malpractice lawsuit must show proof of the healthcare provider’s negligence. There are a few elements to this proof:

—The provider owed a duty to the patient. This is basically the doctor-patient relationship. If the physician, pharmacist, dentist, nurse, etc. was treating you, then you were owed a duty of care.

—The extent of the duty that was owed breached a “reasonable professional” standard. This means that a competent provider would not have made the same mistake in a similar situation. This is the more difficult area to prove, because, as previously stated, providers are people, and people make mistakes. This element of proof is supposed to differentiate between a mistake and a negligent mistake. If a provider in a similar field within the same setting would not have made that mistake, then it breached this reasonable standard.

—This breach resulted in injury. If a provider makes a mistake but the patient escapes unharmed, then they cannot sue for malpractice. However, there are some grey areas to this element, such as how some cases have been made for a breach that caused emotional harm rather than physical harm.
—The plaintiff suffered as a result of this injury. This is referred to as damages. This can include aforementioned emotional distress, wages lost due to injury, pain, medical bills, or, unfortunately, funeral costs.

Although emotional damages are difficult to recover from, lawsuits can help plaintiffs recover financially. However, these lawsuits often drag out, and in the meantime, the plaintiff must pay medical bills on top of regular financial responsibilities. To make things worse, he or she may be out of work because of the injury! This can add to the emotional stress. Lawsuit loans can get the plaintiff cash from their lawsuit now to help stay afloat during a time that is both emotionally and financially difficult.

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.

A Variety of Lawsuits, One Great Lawsuit Funding Solution

There are many different types of laws, and you can find lawyers that specialize in a specific area. Laws are in place to protect us and keep order, however there are times when the negligence of others who don’t follow these laws can affect your life in a negative way. Pursuing a lawsuit when you have been harmed due to others is often the only way to find resolution. Lawsuits can become very expensive, however obtaining a lawsuit loan is a way to help pay for necessary expenses.

Negligence law is when the plaintiff was injured because the defendant failed to uphold a certain standard of safety. Typically, a plaintiff must prove that the defendant was obligated to certain safety conditions, breached that duty, and that their injury was the result of said breach. This injury can occur on the job, in a restaurant, retail store, theme park, or other establishment in which the management had a duty to maintain certain standards. These injuries include, among others, the common slip-and-fall and car accident injuries.

Medical malpractice is a kind of professional negligence where medical treatment falls below this standard and an undesirable outcome results. Depending on the provider or community, this “reasonable standard” usually means the actions that would be taken by a competent health care provider in similar circumstances. After this is proven, it also must be proven that injuries occurred as a result of failure to adhere to this standard. Common actions of this negligence include surgery complications, childbirth trauma, improper anesthesia application, and nursing home abuse. Malpractice can also be filed if there was a failure to diagnose, a delay of diagnosis or even a misdiagnosis. If a death occurred as a result, there also may be compensation for funeral costs or emotional distress.

Breach of contract lawsuits occur when a party fails to uphold a contractual agreement. If a person or company enters into a legal contract, they are obligated to meet the terms that were agreed upon. The party could have failed to the terms completely, failed to perform them on the agreed upon time, or only partially fulfilled the terms. One way to enforce these terms or recover damages is to file a lawsuit.

However, lawsuits often take a long period to resolve, but expenses can’t always wait. To get the cash from a settlement when you need it, consider a lawsuit loan to fund your expenses.

Other types of lawsuits include actions that have caused emotional distress, such as a neighbor’s dog barking or or lawsuits over family issues like divorce and child custody. These lawsuits sometimes result in one party required perform certain action rather than pay damages.

Regardless of the type of lawsuit lawsuit, plaintiffs should consider a lawsuit loan to help cover expenses accumulated as a result of the defendant’s negligence, breach of contract, or other actions.

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.