Where to Find the Best Lawsuit
Cash Advance
FAQ: Frequently Asked Questions about Lawsuit Cash Advances
Q. Why apply for a lawsuit cash advance?
A. Only apply for a lawsuit cash advance
if you are a plaintiff in a lawsuit and you need immediate cash to
pay critical bills. If you are in a lawsuit, but you do not need cash
or you have other sources of income, you may not want to apply for
a lawsuit cash advance.
Q. What is the lawsuit cash advance
application and funding process?
A. You begin the process by applying online.
A lawsuit cash advance funder reviews your application, and if you
appear to have a fundable case, they request supporting documentation
from your attorney. Once a lawsuit cash advance underwriter reviews
this documentation, he makes a decision about funding your lawsuit.
The lawsuit finance company sends an agreement to your attorney to
review on your behalf, and when the lawsuit advance provider receives
back your signed agreement, a check is issued immediately and overnighted
to you.
Q. How does the lawsuit cash advance
provider get paid back?
A. When you win your lawsuit in court or
you reach an out-of-court settlement, the proceeds of your lawsuit
settlement go into a trust account administered by your attorney. Your
attorney pays himself his fees and expenses from that account, then
he pays off your lawsuit cash advance as well as any other liens against
your lawsuit. If you lose, you keep the cash advance, and you owe the
lawsuit funding company nothing.
Q. What is the difference between
a lawsuit cash advance, legal finance, lawsuit funding, a lawsuit loan
and pre-settlement funding?
A. These are essentially different terms
for the same financial service. We prefer the term lawsuit cash advance
as the most accurate.
Q. What involvement does the lawsuit
cash advance provider have in my case?
A. No involvement at all! Once the funding
company advances you cash, its staff is not involved in any way in
the execution of your lawsuit. However, the company will ask to be
kept informed as your case progresses.
Q. What interest rates do lawsuit
cash advance companies charge?
A. They do not charge interest because interest
is what is charged on loans, and lawsuit cash advances are not loans.
You will be charged a “risk premium” on your lawsuit cash advance,
and it is priced out in six-month intervals. Risk premiums differ from
advance to advance since each application for a lawsuit cash advance
is evaluated on a case-by-case basis.