Legal funding is an invaluable resource for plaintiffs who need financial support during their legal battles. By offering access to cash without requiring repayment unless the case is successful, it helps individuals stay financially afloat while pursuing justice. Whether you’re facing medical bills, lost wages, or other expenses, legal funding can provide the relief you need to see your case through to the end.
How Does Legal Funding Work?
When a person files a lawsuit, it often takes months or even years for the case to reach a resolution. During this time, plaintiffs may have to deal with medical bills, lost wages, and other personal expenses. However, they may not have the financial resources to cover these costs while also paying for legal fees.
Legal funding companies offer plaintiffs the opportunity to receive money upfront, which is typically a portion of the expected settlement or judgment. In exchange for this funding, the company takes a small percentage of the award once the case is settled or won.
Types of Legal Funding
- Pre-Settlement Funding. This is the most common type of legal funding, where the plaintiff receives money before their case is resolved. It is often based on the merits of the case and the likelihood of winning.
- Post-Settlement Funding. This type of funding is available after the case has been settled but before the plaintiff has received the full settlement amount. It’s usually used to bridge the gap between the settlement and the final payment.
Is Legal Funding Risk-Free?
Legal funding is typically risk-free for plaintiffs. The amount borrowed is only repaid if the case is successful. If the plaintiff loses the case, they do not owe the funding company anything. This makes legal funding an attractive option for individuals who may not have the financial means to continue their litigation.
Why Do Plaintiffs Seek Legal Funding?
- Cash Flow. Lawsuits can take a long time to settle, and plaintiffs may need immediate cash for everyday expenses, medical bills, or to support their families.
- Leveling the Playing Field. Legal funding can allow plaintiffs to pursue justice without being at a financial disadvantage. It ensures they can afford expert witnesses, legal counsel, and other necessary resources.
- Avoiding High-Interest Loans. Traditional loans or credit cards often come with high interest rates. Legal funding, on the other hand, usually has no interest, as repayment is contingent on winning the case.
How do You Apply for Legal Funding?
The process of applying for legal funding is simple.
- Consultation. A plaintiff typically begins by consulting with a legal funding company. They will assess the case and determine whether it qualifies for funding.
- Approval. If the case is deemed viable, the funding company will offer a loan based on the expected outcome of the lawsuit.
- Receiving the Funds. Once approved, the plaintiff receives the funds, which they can use as needed during the lawsuit.
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.
