Tag Archives: lawsuit loan company

How a credit check can create problems for plaintiffs seeking funding

Many plaintiffs seek out a form of lawsuit funding to help pay bills while they await their settlement. If they apply for a traditional personal loan, then they can expect the bank to run a credit check in order to approve the loan, but the unique legal situation of the plaintiff often means that there will be red flags in these credit checks. But if the plaintiff applies for a lawsuit loan instead, no credit check will be necessary and the plaintiff could see their money faster. Some common problems that plaintiffs have with credit checks include:

How many inquiries there are. Whenever a person applies for credit, the lender will make an inquiry to look at their credit report and the report will keep track of how many inquiries there are, so plaintiffs applying for lawsuit funding may run into trouble with obtaining a traditional personal loan if they’ve made too many inquiries. Many traditional lenders will see too many inquiries as a warning sign of unstable credit and this may lead them to deny the applicant. Plaintiffs often try to use credit cards to pay their expenses before applying for a loan so this is a common roadblock for plaintiffs in need of funds. The same goes for how many open credit accounts the plaintiff has.

How much they’re making. One of the main things that traditional lenders look for is whether the applicant has a high enough income to be able to make loan payments. The problem for many plaintiffs, however, is that they may not be working due to the incident that resulted in the lawsuit, such as a workplace injury or a personal injury. The bank or other lender may deny a plaintiff for a loan if they do not want to take a risk on an applicant without an income, even if they are receiving insurance or worker’s comp. Lawsuit loans work differently, and do not require applicants to have a current source of income and it is actually common that their applicants do not have one.

Debt. If an applicant already has debt, then a bank may not feel confident that the applicant can repay the loan. Plaintiffs commonly have this problem because they’ve often already experienced financial strain before they apply for the loan.

Missed credit card payments. Lenders will look to see how responsible an applicant has been regarding their rent, car, mortgage or other bills over the years to gauge whether the applicant would be able to handle repaying the loan. If a plaintiff has been dealing with the circumstances of their lawsuit, then there is a good chance that they may have struggled to make these payments.

If a plaintiff is worried about any of these problems, then pursuing a lawsuit loan instead could be a better 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.

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.

Six Reasons Why Plaintiffs Choose Lawsuit Loans

Many plaintiffs find themselves struggling financially, and there are a few options out their to solve these problems. There are certain advantages to a lawsuit loan, which allows plaintiffs to use cash from their lawsuit before settlement, that you may not find with personal loans or other funding options.

1. You don’t have to worry about putting your car or house up as collateral. With traditional loans, banks require that you put up collateral in case you can’t make payments. However, with lawsuit loans, the collateral is the case. Many plaintiffs find themselves in a difficult situation because they when they can’t pay back a personal loan, possibly because banks may expect payment before the plaintiff reaches his or her settlement, they lose their collateral. If this collateral is a car, then they might have problems getting to work. If they can’t get to work, they’ll suffer financially, which is why they couldn’t pay back the loan in the first place. When the collateral is your case, you don’t have to worry about that kind of situation.

2. Unlike personal loans, the approval for lawsuit loans doesn’t depend on your financial history. The lawsuit loan company will not run a credit check or an employment verification. If the plaintiff’s case has to do with personal injury or is workplace related, then they might not even have employment in the first place.

3. Lawsuit loans can get you cash fast. When the bills are adding up—living expenses, medical bills, mortgages, car payments—you may not have the time or convenience to wait for the lawsuit to reach a settlement. The duration of a lawsuit is unpredictable, and some last years.

4. You don’t repay the loan until settlement. As stated earlier, banks may expect payment before the case settles. Would you have the means to repay a personal loan without the help of your settlement? Choosing a lawsuit loan instead means that plaintiffs don’t have to stress about repaying their loan until they can be sure they have the means to do so. Repaying at the time of the settlement is convenient and stress free.

5. The process is confidential. A good lawsuit loan company will promise privacy and confidentiality. While banks may delve into your life to determine approval, lawsuit loan companies only look at the details of your case. Even with the lawsuit, you may not have that same security. The defense may dig into your private life in order to fight against you.

6. You can apply for a lawsuit loan even before filing your suit. All you need is enough information for the lawsuit loan company to evaluate the case with. This is convenient for plaintiffs whose bills are mounting even before the lawsuit starts.

Lawsuit loans allow plaintiffs the time to fight for what their case is worth. Every plaintiff should weigh their financial options carefully and may find that a lawsuit loan is 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.

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.

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.

How a Lawsuit Loan Can Help Your Slip and Fall Lawsuit

One of the most common types of personal injury lawsuit is the “slip and fall.” This is when the plaintiff has suffered an injury from falling in a place of business or even a private property. The struggles ahead of slip and fall plaintiffs include proving negligence and dealing with medical bills and lost wages. Lawsuit loans can help plaintiffs accomplish these tasks.

In court, the biggest hurdle a plaintiff will face is proving that the fall happened because of the owner’s negligence. The owners of these properties, whether they are a public place like a restaurant or department store or a private home, may be considered negligent if a person suffers an injury because of an unsafe situation. The owners cannot be held responsible in every situation, though. In order to be considered negligent, the injury must have occurred under specific conditions.

One of these conditions is that the owner of the premises, or one of their employees, caused the unsafe environment. This means that they spilled liquid on the floor or directly created the unsafe environment in another way. Another situation is that even if the owner or employee didn’t cause the unsafe environment, they knew of its existence and did nothing to prevent the accident from happening. When determining this, the court expects the employee or owner to have done what a reasonable person would have done in the same situation.

This is where things can get tricky. Also, it is usually taken into account whether the plaintiff was careless in any way. The issues of reason and carelessness are often the most disputed aspects of slip and fall cases and it is often what causes lawsuits to drag on for a long period of time. One of the complications of a long lawsuit is that the plaintiff is often suffering from medical bills and may not be able to work in order to pay these bills along with their everyday expenses. Oftentimes, defendants will count on the plaintiff’s financial constraints and will present a low offer. Unfortunately, plaintiffs often feel that they have no choice but to accept.

This is where lawsuit loans can help. In not only the case of slip and fall lawsuits, but in any lawsuit in which the plaintiff experiences financial difficulties, lawsuit loans give plaintiffs an advance on their settlement. This means that they can pay medical bills, mortgages, groceries, car payments, and some other expenses. Even better is that it gives plaintiffs the financial freedom to fight out their lawsuit as long as they need to and obtain the settlement they 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.

Why Lawsuit Loans are the Best Fast Funding Solution

During their lawsuit, many plaintiffs face financial strain and choose short term quick-fix options such as credit cards and payday loans to help support themselves until they reach a settlement. However, these options usually come with fees and interest that can make financial problems even worse. In many cases, lawsuit loans are the better funding option.

Plaintiffs usually have to face troubling expenses like medical bills along with their mortgage, car payments, and any other personal expenses along with the stress and frustration of fighting a lawsuit. So, what is a plaintiff to do?

Payday advances are loans secured against your future wages. Payday advance loan companies will look at payroll information and then will expect to be repaid once your next paycheck comes out along with a fee. However, this means you have to wait until your next paycheck to have a regular payday. Before taking out a payday advance, you have to be sure that you can stay afloat during this kind of financial situation. Will you be in a place where you can pay back the loan company and pay your usual expenses? Can you be sure that you’ll have a settlement by then? If these questions are difficult to answer, then this isn’t the best option.

However, some plaintiffs are in their legal situation because of a personal injury or another reason that makes them unable to work. These plaintiffs sometimes look to credit cards for a short term fix, thinking they can just repay them once they receive their lawsuit. But the longer you have outstanding credit card debt, the more interest you’ll accumulate. What happens if the lawsuit drags on for a year longer than you expected it to? This interest will be taking a huge chunk out of your lawsuit and you risk losing your belongings to repossession if you start to see too much red.

Lawsuits are unpredictable and they can take a long time to reach a settlement. When you take out that payday loan or charge major expenses to credit cards, you can’t be sure that you’ll have your settlement to repay the creditors when they expect payment. So what other options are there? There’s personal loans, but with that type of loan, you still have repayment concerns. Banks will want repayment within a certain time frame and take longer to get the funding.

The answer is a lawsuit loan. Lawsuit loans provide funding fast, like credit cards or payday loans, but without the concerns of the personal loan. Lawsuit loan companies understand how lawsuits affect plaintiffs and expect repayment after settlement. The collateral is your lawsuit, so you won’t have to worry about any belongings being repossessed. This can make the legal process and your financial situation much easier to deal 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.