Brief Account of Pre Settlement Funding

Lawsuits are time consuming as well as expensive. Getting your day in court can take, sometimes even years. If you suffered an injury or a loss, chances are, you will need money to cover expenses such as utilities, rent and medical bills. Until you get the money from the settlement, you need to find a way to pay for these bills on your own.

Pre-settlement funding is when a company provides the plaintiffs with the money in exchange for a portion of the future settlement amount. Also known as a lawsuit advance, gives claimholders the access to money before their case is settled so they can pay for expenses mounting during the legal process. The company advancing this money generally requires documentation, including the related medical records information from the attorney tackling your case.

Are Litigation Advances Loans?

There are split opinions about whether to consider litigation advances loans. The legal implications are based on both the funder and the consumer. Some states consider the arrangements to be investments where the usury laws apply.

The common types of cases which are eligible for pre settlement funding involve:

• Personal Injury
• Product Liability
• Wrongful Death
• Motor Vehicle Accidents
• Medical Malpractice
• Premises Liability
• General Liability

Lawsuit settlements are undoubtedly valuable assets. Depending on the nature of the lawsuit and individual circumstances, this financial option often seems to be a better alternative to personal loans.

The following are the main reasons why this financial settlement has grown popular amongst plaintiffs:

• Faster funding
• Legal funding experts
• No monthly payments
• Simple funding process
• No upfront fees are needed
• Low cost settlement funding available
• No credit check is required

The plaintiffs who are trying to make their ends meet will need resources to carry on before they are awarded with the settlement money. Be it the personal injury or mass tort lawsuits involving defective medical devices or pharmaceuticals, the result for the lawsuit takes time. Committed to providing strategic financing solutions to those who need it, elevant.finance is a trusted name. Visit http://elevant.finance/ to know more.