The short answer is that, if legal funding is available for your case, it is almost always the best option for funding! To go into more detail…
Legal funding offers several advantages over traditional loans when individuals need financial assistance to pursue litigation. Legal funding provides a low-risk, flexible, and accessible option for individuals seeking financial support to pursue litigation.
By offering non-recourse funding based on the merits of your case, legal funding can help level the playing field and ensure that you have the resources needed to pursue justice without sacrificing your financial well-being.
Let’s take a look at why legal funding is almost always a better option than traditional loans when it comes to paying for legal fees and services.
Non-Recourse Funding
Legal funding is typically non-recourse, meaning you are not personally liable for repayment if you lose your case or fail to recover compensation. In contrast, loans require repayment regardless of the case outcome, potentially leaving you with a substantial debt burden if your case is unsuccessful.
No Monthly Payments
Unlike loans, which often require monthly payments starting immediately, legal funding generally does not require any payments until your case settles or reaches a verdict. This can provide significant financial relief, especially if you are facing medical bills, lost income, or other expenses related to your case.
No Credit Check or Collateral
Legal funding is based on the strength of your case rather than your credit history or assets. Funding providers evaluate the merits of your case and offer funding accordingly, without requiring a credit check or collateral. This makes legal funding accessible to individuals who may not qualify for traditional loans due to poor credit or lack of assets.
No Impact on Credit Score
Since legal funding is not considered a loan, it does not appear on your credit report or impact your credit score. This can be beneficial if you are concerned about maintaining or improving your creditworthiness while pursuing litigation.
Risk Sharing
Legal funding providers share in the risk of your case by investing in its outcome. If you lose your case, you typically do not have to repay the funding, as it is often contingent on the success of your litigation. This aligns the interests of the funding provider with yours and reduces your financial risk.
Asset Preservation
Legal funding allows you to preserve your personal assets and savings for other purposes. Instead of depleting your savings or taking out loans secured by your assets, you can use legal funding to cover the costs of litigation without putting your financial security at risk.
Financial Flexibility
Legal funding offers flexibility in how you use the funds. Whether you need to cover medical expenses, living costs, legal fees, or other expenses related to your case, you can use the funding as needed without restrictions.
Faster Access to Funds
Legal funding providers often provide funding more quickly than traditional lenders. Once approved, you can typically receive funding within a matter of days, allowing you to address pressing financial needs and focus on your case without delay.
Legal Funding From Cash Now Funding Group
Are you or a family member in need of financial assistance due to a lengthy legal battle? Are you preparing for a long-term legal battle to get the compensation you deserve? Cash Now Funding Group can be the financial lifeline you need while your case settles. Applying is free and confidential & no credit check is required.
