If you have ever been involved in a lawsuit, you know that litigation is an extremely expensive process that can last for months and leave you without enough food to pay your bills and put food on the table. Instead of taking out a ton of loans or maxing out your credit cards to buy groceries, you should consider pursuing legal funding loans. This is when an outside company will cover the costs of your attorney and other legal fees, as well as providing you with cash to live on while your case is being taken to court. This is done in exchange for a percentage of your settlement after you win the case, so the cost may seem high, but it’s usually the best way to get money to live off of during a long and expensive case that you’re likely to win. On top of that, there is no obligation to repay any of the money should you lose your case, which makes
this a pretty low-risk option. Read on to discover the top 3 cases that you can get lawsuit funding for!
- Personal Injury Cases
If you’ve been injured due to negligence or wrongdoing, it’s crucial that you seek medical treatment as soon as possible, save all documents, and contact a personal injury attorney to assess your case. However, this can be an expensive process. Insurance companies or the company responsible for your injuries could be withholding payments or be completely unwilling to cooperate with your attorney.
This can cause the process to be drawn out for excruciatingly long periods of time, and if you can’t work you may not be able to afford your cost of living. This is a great time for lawsuit funding, as they will provide you with short term money and cover immediate expenses. After you win your case, they’ll take a predetermined percentage of your settlement to cover their costs and for the risk, and you’ll take the rest of your money and walk away taken care of.
- Property Damage
If someone has damaged your property and is refusing to pay, litigation is often the only answer. Being stuck for months in a costly lawsuit is never what you want, so lawsuit funding companies are there to help. These companies can be a great option for property damage cases due to the high settlements, which will allow them to happily fund your case and other costs knowing they will get their money back when it’s all said and done.
These types of cases can take months or even years, which can leave you drained and unable to pay bills if someone else has wrongly profited off of your hard work and creativity. It’s also worth noting that these types of cases are usually worth a very high amount of money, which makes them more attractive for lawsuit funding companies because they’re always looking for a high payout. If you are running out of money during a long copyright case that you know you are going to win, lawsuit funding becomes an excellent option and will keep you in business while you wait for that big payout that’s sure to come in the end.